Is a vibrant company culture only about giving all the right feels, or can it boost the bottom line?
“Companies with a strong mission and purpose outperformed the S&P 500 by 8-fold over a 20 year period,” says Deloitte/Bersin in their 2018 report, “The Rise of the Individual in the Future of Work.” These companies, they say, have “soul.” Who would have thought, until now, that we’d think of a company as having a soul and what does that mean?
I would venture to say that in these companies every employee matters in a culture that values purpose, passion, character, collaboration and respect for the individual. Coincidentally, that’s exactly what employees say they want, and more.
A company is, after all, a collection of individuals—and always has been. We just haven’t recognized it before. Historically, mandates came down from above along with rules about even the smallest of things, like the classic example of IBM not allowing anything but white shirts for men.
Today’s young workers demand something entirely different; they want their individual needs, growth, and interests addressed and they’ll use their power in the marketplace to force change. Older employees are jumping on this bandwagon too. Companies that want to attract and retain the best people need to become more like the best companies.
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