According to a new study, office culture affects more than just morale – it also can change company finances and performance. Allison & Partners released the results of their C-Factors Survey, which gathered responses from more than 200 executives from a wide array of industries.
The survey found 94 percent of respondents said workplace culture affects employees’ ability to make decisions, while 97 percent said it can change an employee’s ability to generate new and innovative ideas.
To increase motivation and improve general office culture, 56 percent of respondents said they had increased emphasis on office culture over the past two years, and 52 percent of executives said they expect that emphasis to increase even more over the coming years.
Incentive compensation plans
One of the most popular ways to improve culture is to implement effective incentive compensation plans. An executive can help motivate staff and make organizational gains by focusing on strong compensation programs that will not only push employees to improve individual sales, but create a more positive workplace environment.
Executives can use incentive compensation management strategies to foster camaraderie and positive workplace experiences by creating group initiatives designed to bring staff members together. For example, an executive can implement an ICM plan that sets up sales competitions between departments or groups, rather than just through individual competitions. That way, employees will be encouraged to get to know their colleagues and to work with them to drive in higher sales.
Another way to improve company culture is by offering more than just financial rewards. While most people are driven financially, it takes more than just money to improve company outlook. Rewards such as days off, the freedom to work from home and other creative motivators will help employees generate new ideas and improve their overall attitude toward work.