The business case for a Great Workplace Culture

Whereas, for a responsible business doing the right thing (the moral case) by your people, your customers, your suppliers, society and the planet is essential, there is a strong business case too.

This is an overview of the key commercially valuable outcomes of being a responsible business.

Ethical businesses in the medium term, generally, have better financial results.

Alex Edmans Grow the Pie www.growthepie.net

Evidence suggests there is a great return on investment in having a Great Workplace Culture.

Here’s why:

A great workplace culture sets up a positive feedback loop which continuously improves the organisation’s: reputation, relationships, resilience and results.
Leaders and employees will take pride that their company is making a positive contribution to society and the environment, doing only good and not harm resulting in improved engagement and productivity. They think “this is a great place to work” and recommend the company to their friends.
There is evidence that increasing numbers are looking for purpose in their jobs again increasing engagement and productivity.
In turn, this helps win the battle for talent – attracting and retaining top people with reduced recruitment and induction costs.

An authentic focus on purposeful work and employee wellbeing creates many benefits including:
- Improved productivity – less absenteeism, less presenteeism.
- Lower costs – better employee retention, less bedding-in and induction time. Also reduced hiring costs.
- Enhanced employee performance (engagement, creativity, teamwork) as they feel better about their work and workplace.
- Greater diversity fostering inclusion, belonging and diversity of thought.
- Creates a psychological safe space enabling people to voice their opinion and put forward new ideas.
- Improved levels of responsible decision-making.
- Enhanced trust with suppliers, customers and other stakeholders leading to improved collaboration.
Happy and engaged employees doing purposeful work creates a positive reputation within the community and better customer loyalty.
A Great Workplace Culture fosters the understanding of the triple responsibility towards people and planet issues and the importance of making an ethical profit and other commercial objectives.
Embedded values and engaged workforce reduces risk of a crisis and improved investor confidence – less likelihood of a scandal, litigation, being fined.
The law is changing fast so be ahead of the curve.

There is no fee to join the United Voice for Responsible Business - everybody is welcome.

Home / It’s all about the culture / The business case for a Great Workplace Culture