10 most admired corporate cultures

82 per cent of executives believe culture affects business performance
|hrreporter.com|Last Updated: 02/17/2009

The majority of employers believe corporate culture affects business performance, accroding to a recent study.

Waterstone Human Captial's Most Admired Corporate Cultures 2008 study, based on interviews with 340 senior Canadian executives, found 82 per cent of executives believe culture has a strong, or very strong, impact on an organization's performance.

Other key findings:

• 61 per cent of executives say their organization's corporate culture drives sales and increases revenue, 53 per cent say it lowers turnover and 57 per cent say it gives a sense of belonging.

• 81 per cent of executives surveyed say that their current leadership has lead to the creation of their organization's culture;

• 90 per cent of executives surveyed believe that a new leader can change an organization's corporate culture;

• 46 per cent of executives surveyed have a process for integrating new leaders with their corporate culture.

• 80 per cent of executives surveyed define corporate culture as leadership's behaviours;

• 74 per cent define corporate culture as an organization's values;

• 72 per cent define corporate culture as employee's behaviours.

• 68 per cent of executives surveyed say their organization's corporate culture has a strong impact, or, a very strong impact on their ability to retain top talent.

• 62 per cent of executives surveyed say cultural fit is more important than necessary skills, in the hiring of new talent.

As part of the study, Waterstone also compiled a list of the top 10 most admired corporate cultures.

Top 10 most admired corporate cultures (in alphabetical order):