How Connected Companies Harness the Power of Culture
Company culture is the secret to retention. And connected companies build it better.
1. Poor culture fosters disconnection
Every business leader would agree: A strong company culture is better than a weak one. But new research from Forrester adds compelling evidence to support that claim. At the most connected companies, nearly every employee feels they have a strong network of reliable and supportive colleagues at work. This sense of connection and trust makes nearly every part of work easier, from scheduling a meeting to handing off a project to staffing a frontline position. But at the least connected companies, only 19% of employees feel they have that network, which decreases their engagement, morale and sense of belonging.
2. Connection is retention
Connecting your employees has much deeper impacts than simply morale. Connected companies boast 10% higher retention rates than their competitors — and retention is a key strategy to grow the company’s value, increase everyone’s knowledge and avoid costly talent and onboarding programs. By keeping employees closer together, the company also keeps departures down.
3. Building better onboarding processes
Nearly half of human resources managers say company onboarding processes are broken, and at many companies, it seems like onboarding is always being rebuilt and revised. But there are innovative new ways to solve this challenge. Connected companies use digital tools that make onboarding easier and help new hires understand the company culture faster. An open communication platform can be used to share onboarding materials, welcome new teammates and immediately make them feel like they’re a part of the group. Simple searchable threads of past conversations and knowledge reduce the amount of time HR managers have to spend with each employee. These simple changes can reap huge benefits for the company. The most connected companies see a 40% reduction in staff turnover and a 17% increase in productivity. The power of an inclusive, connected culture at these companies can’t be overstated — and connected company platforms help build that culture faster.