In Season 2 of Improving Sales Performance Series, we’ve focused on the data and analysis of the 2020 Media Sales Report.
In our last episode of Season 2, company culture and employee engagement experts Beth Sunshine, Deb Fulghum, and Jim Hopes, dig into the key takeaways from the full Media Sales Report and discuss company culture and employee engagement based on the data in the report.
You can stream it now to hear their insight, advice, and initial thoughts after analyzing the data that was just published. Or keep reading for a brief overview.
Company Culture and Employee Engagement Statistics
The secret is out: a strong company culture links to improved employee engagement, increased productivity, and higher profit margins. Here’s some of our own company culture and employee engagement data from the Media Sales Report:
- 81% of sales managers are optimistic about the future of their industries
- 83% of salespeople would recommend their company as a great place to work – meaning 17% would not
- 1 in 6 would not recommend their company to potential colleagues
- 22% expressed they’re not sure about the future of the marketplace
- 85% feel that their organization is equipped to be competitive in the future
- 83% feel that have access t the resources needed to exceed sales goals
- 91% of salespeople do not want to go back to the office full time
- Majority of sellers rated work from home experience 4 out of 4
What Makes a Good Company Culture?
Culture Coach, Beth Sunshine responds by asking, “Every company has a culture, but is it intentional?”
Companies often reach out to Up Your Culture for help because their culture has evolved organically and it’s not productive. “Culture directly relates to engagement; and that’s where the magic happens,” Beth explains. “When employees are engaged, they’re willing to give it their all and bring their talents to work.”
If you’re wondering if you have a good company culture, download this free self-inventory checklist.
Managing Partner at The Center for Sales Strategy, Jim Hopes also tells listeners a few indictors that show whether you have a good company culture:
- You’re growing revenue faster than your peers
- Customer retention is high
- Turnover is low
Employee Engagement Specialist, Deb Fulghum adds that if employees are engaged, they’re proud of where they work and want to shout it loudly.
Benefits of a Strong Company Culture vs. a Visionary Leader
Sometimes company culture happens organically and sometimes it happens because of an inspirational and visionary leader.
What happens to a company’s culture when that leader leaves or retires?
Deb explains that the benefits of a strong company culture is engaged employees, innovation, growth and development, and profitable outcomes.
She paints a picture for the audience saying that culture is like a garden. It takes nurturing and it needs to be more than one person doing all the work. The more attention you pay to it, the more it will flourish. Just like a garden, you can’t leave it alone because the weeds will take over.
Jim chimes in saying that that having one person establishing your company culture is different than having a healthy culture.
A visionary leader is a person who has a clear idea of how the future should look, builds the concrete steps to get there, and then leads their team toward a better future. Company culture is lasting when everyone feels like they belong, and when they see what they do put into action. “You may be blessed with visionary leader but may not have company culture.”
He also adds that not investing in culture is a fool’s errand. “If you think you’re saving money by not investing in culture, you’re going to pay back 4-5x.”
Beth adds that culture is not a culture if it’s just one inspirational person spearheading everything. “Company culture happens when everyone has a shared mission,” she explains. “They know where they’re going and why.”
Beth also states, “Companies that say they don’t have a budget for improved culture miss out on opportunities because every dollar spent pays off in bottom line …and the metrics are there!”
Four Engagement Elevators You Can Use to Improve Your Company Culture
What does a company do if they have a bad culture because of a previous leader, but can't seem to change it even after the leader has left?
Culture is powerful, and you’re going to have one whether you like it or not. The best organizations to work for are the ones that recognize this and actively strive to push the right buttons every day to build a positive climate and a culture of engagement.
If your company has a bad culture, here’s what our experts suggest that managers do this week to improve the culture on their team:
- Start with the four engagement elevators and how to strategically lift each of them: Shared Mission, People Development, Valued Voice, and Earned Trust (Beth)
- Acknowledge your bad culture and work together to do something about it. Be transparent. (Jim)
- Leaders need to unify a shared mission and share it with everyone. Ask people wht the best culture looks like to them – employee engagement changes when people trust their leaders. (Deb)
Trust, it seems, is at the core of a strong company culture. Which leads to the shocking data point in the Media Sales Report - 91% of sellers don’t want to go back in office full time. Here’s the guidance and advice that our experts have for sales managers and listeners:
- Trust is a big deal. People want to feel trust and they don’t want to be micromanaged. (Deb)
- Set expectations and it does boil down to trusting that your people are doing their work. You can’t measure performance based on time spent in the office. If that’s how you measure, then you’re lazy. (Jim) Tune in to hear what you should be measuring!
- Define what “work from anywhere” looks like and understand each individual on your team because we all require a unique way of working. (Beth)
Don’t miss another episode of the Improving Sales Performance series where Managing Partner Matt Sunshine speaks with thought leaders, experts, and industry gurus, who share their insight, tips, and knowledge on various topics that help companies improve sales performance.
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