Quick Tips #5 – The Five Reasons Why Sustaining Your Culture during COVID-19 is So Important

Written by Injoy Global Co-Founder & COO, Jeff Baietto on May 19, 2020

Like everyone else, you’ve been scrambling ways to keep your business going while your employees are working remote. But in the midst of all this craziness, it is critically important that you remain focused on the one factor that will always help your firm thrive - through both good times and bad.

Your culture.

In fact, your culture is the single-most valuable asset your business will ever own. Indeed, research has proven that a positive corporate culture can provide your firm with a wide range of incredible benefits. This includes:

1. Increasing Your Sales – A positive corporate culture produces happy and fully focused sales people. And what do happy and fully sales people produce? Fantastic results.

In fact, a study by Harvard Business Review revealed that happy sales people increased sales by an incredible 37%.  Keeping your sales force happy – whether they are working remote or not – should be priority #1. 

2. Enhancing Your Productivity – A positive corporate culture makes employees feel welcome, empowered – filled with a sense of purpose. Making them more committed and effective at their jobs.

And research bears this out. A recent University of Pennsylvania study revealed that a positive environment could lead to a staggering increase of 31% in productivity.

3. Reducing Your Employee Turnover – COVID19 has obviously created enormous uncertainty in our world. Giving employees time to reflect on their jobs, careers and happiness – and explore new options.

But firms with positive corporate cultures are better positioned to weather this storm. In fact, a Columbia University study shows that the likelihood of job turnover at an organization with rich company culture is a mere 13.9 percent, whereas the probability of job turnover in poor company cultures is 48.4 percent. Helping you retain your best employees under any circumstances.

4. Heightening Your Employee Engagement – Maintaining high levels of employee engagement is a challenge for many firms even when workers are in the office. And that challenge likely goes up when they go remote.

But a positive corporate culture is often the antidote. Employees working at firms with positive corporate cultures have engagement levels that are 57% higher than the national average.

5. Improving Your External Brand – It is critically important to remain focus on your employees’ well-being during this pandemic –
because they are the ones who must remain focused on your customers.

Happy employees result in happy customers. According to Bain & Company Partner, Rob Markey, “Loyal, passionate employees bring a company as much benefit as loyal, passionate customers. They stay longer, work harder, work more creatively, and find ways to go the extra mile.”

In short, providing employees with a positive and supportive culture will almost always return huge benefits over the long term.  In fact, companies with happy employees in general outperform the competition by 20%, earn 1.2 to 1.7% more than their peer firms, and are 2.1 % above industry benchmarks.

We’ll get through this.

Jeff

P.S. Please share your own tips or suggestions on what you are doing with your teams in the comments below.
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Jeff Baietto
COO + Co-Founder


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