Blog
Aug 25

Engagement is Key to Company Culture

Company culture is something that is very close to our hearts at Grenade, and if you’re a business owner or work in a managerial position you should put a lot of time and energy into fostering a great culture, not simply leaving it to chance which is a fickle master.

Many entrepreneurs and managers incorrectly place company culture in the afterthought bin and I can’t say I blame them when there are usually a million and one other things that need to be tackled on a daily basis. The irony is that unless you’re a sole proprietor, company culture affects every aspect of a business, from employee retention to your monthly bottom line. For this reason, you can greatly improve your company’s overall performance and boost your chances of success by building a great company culture, even though it takes a lot of hard work.

Since company culture is for all intents and purposes an “intangible thing”, most people are unsure about what they should focus on and the best place to start. The simple answer to this question is start with employee engagement.

I recently came across an interesting infographic from a company called Officevibe. This infographic reveals 10 startling facts about employee engagement which you should factor into your engagement strategy:

    1. Employee Engagement is Extremely Low.
      Most Americans are bored at work and a small minority would happily damage go out of their way to damage the company’s reputation.

 

    1. Employee Turnover is Not Related To Salary.
      Most employers believe that their employees leave for better salaries but in fact only 12% of employees actually do.

 

    1. Managers Are Often the Problem.
      Most people quit their job because of their manager, not because they don’t like their job or the company.

 

    1. Enterprise Gamification Can Spark Employee Engagement.
      Online gamified platforms that are designed for companies have made employee engagement more fun and effective.

 

    1. Having an Employee Engagement Strategy is Important.
      Most executives believe that an engagement strategy will contribute to their company’s success but very few of them actually have a strategy or platform in place.

 

    1. Sharing the Value and the Purpose is Crucial.
      Only 40% of workers typically understands their company’s vision and goals so make sure you communicate them effectively!

 

    1. Forget Performance Reviews, Consider Shortening Feedback Loops.
      Fast, lean, performance feedback works much better than structured performance reviews.

 

    1. Employee Engagement Drives Financial Performance.
      Companies that have engaged employees earn 2.5x more revenue on average than competitors with disengaged employees.

 

    1. Employee Retention is Driven by Culture.
      A good company culture helps to attract and retain staff while a bad company culture has the opposite effect. Based on our experience, an important pre-requisite for building a strong company culture is providing an office foosball table and starting an internal foosball league. This can be substituted for table tennis or checkers if you must.

 

    1. Engagement is Good for the Triple Bottom Line.
      Studies have shown that companies with happy, engaged employees perform better on all fronts.

 

10 Shocking Statistics About Employee Engagement