Innovator in Leadership and Professional Development Surveys Nearly 500 Professionals on Impact of Company Culture on Growth and Productivity
FARMINGTON, Utah, May 15, 2024 /PRNewswire-PRWeb/ -- Arbinger Institute, the premier provider of leadership and professional development solutions that transform business culture for better performance and lasting results, today released the results of its new 2024 Workplace Culture Report, a global survey of 440 business professionals that unveils what the most successful company cultures look like, and the impact of culture on creating resilient and high-performance teams that fuel growth and produce results. The Arbinger study, conducted in partnership with research firm Ascend2, shows that while 100% of organizational challenges reported were people and culture-related—lack of leadership, unclear strategic priorities, employee productivity, and retention—ironically, only 27% of survey respondents strongly agree that their company's culture significantly impacts their ability to meet or exceed goals.
A strong company culture is shown to breed productivity and success—those who are most satisfied with their company culture are 6x more likely to rate their company's efficiency as excellent compared to those who aren't. Companies described as strong and adaptable by their employees are nearly 3X more likely to have seen significant revenue increases in the last year than those who view their company culture less favorably.
"Culture is the backbone of every organization, so companies must invest in both employees and leaders to ensure they are building a healthy and productive workplace simply put, culture is how we work together every day," said Ray Smith, SVP of People and Culture at the Arbinger Institute. "Improving company culture is a strategic necessity in order to sustain growth and thrive today, particularly when there is economic uncertainty or other challenges. Our study proves the value of building and reinforcing strong company culture and the importance of ongoing training and coaching in achieving it."
The Arbinger study shows that companies prioritizing leadership, employee engagement and accountability, and inclusivity are 11x more likely than others to have employees who are very satisfied with their company culture.
Key findings include:
- Leadership: Companies that invest in developing leaders who empower others have significantly higher satisfaction rates with company culture than others. In fact, professionals working for organizations that prioritize leadership development are nearly 4.5x more satisfied with their organization's culture than others.
- Team performance: Arbinger’s research found that organizations promoting the development of engaged and accountable employees have significantly higher culture satisfaction rates than organizations that don’t prioritize employee engagement as heavily. Companies that prioritize improving team performance are over 5x more likely than others to have achieved excellence in efficiency.
- Inclusion: Inclusion is a significant part of cultures that retain high-performing talent. Prioritizing inclusivity and collaboration also breeds innovation. Professionals working for companies that prioritize inclusivity are 3.5x more likely to rate their company's innovation as excellent compared to others.
"Our survey shows that professionals who are most satisfied with their company culture are 6x more likely to rate their company's efficiency as excellent," said Mitch Warner, managing partner of the Abringer Institute. "By focusing on culture, companies can more easily hire and retain the right talent, mitigate performance-related issues, and ultimately maximize success. In light of our findings, Arbinger is unveiling its Culture Transformation Flywheel, which highlights the impact of transforming culture as the key to sustainable business performance."
For more on the report findings and to hear directly from the team, visit Arbinger at The Association for Talent Development (ADT) conference next week in New Orleans, including sessions on leadership, conflict resolution, diversity and inclusion, and how to bring humanity to the workplace —click here for more details. Alternatively, stop by booth #2900 or schedule a time to meet.
You can download the 2024 Workplace Culture Report here. To see the Culture Transformation Flywheel in action and learn about how Arbinger can help create a high-performance culture that drives exceptional organizational results, visit the website here.
About the Survey
Using a custom online questionnaire, Arbinger, in partnership with Ascend2 Research, surveyed 440 professionals across the United States, Canada, the United Kingdom, and Australia. These individuals represent companies with between 500 and 10,000 employees across all industries and are in job functions of manager and above. The survey collection took place in March 2024.
About The Arbinger Institute
The Arbinger Institute is the premier provider of leadership and professional development solutions that transform business culture for better performance and lasting results. Based on its research-backed process that puts a unique focus on changing mindset to change behavior, Arbinger enables leaders and teams to uncover new opportunities for professional growth while improving organizational culture and team performance. By helping leaders bring humanity to the workplace, Arbinger improves employee engagement and retention, inspires team collaboration and inclusivity, and drives the bottom line. For more information, visit https://arbinger.com/.
Media Contact
Aimee Eichelberger, Superior Public Relations, 312.952.1528, [email protected], Superior-pr.com
SOURCE Arbinger Institute
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