Are you preparing your business for a merger or acquisition? While it is essential to get your financials and your business plan in order, it is also important to ensure your company culture is optimized. According to the study “Corporate Culture: Evidence from the Field” 91% of executives said they believed improving company culture would increase their company’s valuation. Here’s why.
SDBJ’s Best Places to Work nominees were published in the September 6th issue.
Whether you’re on the list or not, you can actually be one of the best places to work. It takes more than just a ping pong table in the common area and food truck Fridays. While those may be fun added perks for your employees, the real way to become one of the best companies to work for is to start from the ground up.
When you think about profitability and productivity there’s a “p” word you may have overlooked… purpose.
Consider your favorite brands. Why are you loyal to them? Take Airbnb for example, their mission is to “help create a world where you can belong anywhere and where people can live in a place, instead of just traveling to it.” They have lived this mission by implementing purpose-centered programs to donate to nonprofits that help people who have been affected by disasters, conflict, or critical illness. As a host, you can choose to donate a portion of your profits, and as a company, Airbnb has donated over $20 million to help those in need of housing.
Determining the purpose of your business is one of the most important things you can do. Your company’s purpose should inform the decisions you make to move your organization forward. Developing a purpose can be challenging, and acting on that purpose proves even more difficult. How can you turn your company’s purpose into strategy?
Operating a purpose-centered business is important to the success of your company. Your company’s purpose explains to your employees and your customers the reason behind your business and the people it creates value for. Identifying and reflecting your purpose throughout your company is imperative to creating a company culture that is aligned toward one common goal.