Quantifying the business impact of culture. But how? - TELUS International Europe

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  • Quantifying the business impact of culture. But how?

    April 23, 2014

    Corporate CultureCan we empirically correlate culture and engagement to productivity, performance and financial success?

    A lot of business leaders talk about culture, but they struggle to quantify it. Frost & Sullivan recently spoke with members of TELUS International, a global BPO provider, to get their perspective on the importance of an organization’s culture and the impacts it has on customers and on the business itself.

    The Culture Value Chain

    Think of the Apple Store, the Zappos online retail experience where highly engaged team members create superior experience for their customers and as a result the top-line benefits for those companies is considerate.  Strong links between employee engagement and top-line growth have already been established for culture-focused organizations and their internal call centers. To draw the same links in the outsourcing realm, TELUS International developed the “Culture Value Chain.”

    Today many organizations choose to enlist a global outsourcer for customers support. Instead of using outsourcing for cost-cutting measure, more and more brand-savvy companies are placing a clear emphasis on cultural compatibility between themselves and their outsourcing partner. Those firms appear to be enjoying a great success than those that engage with traditional outsourcers that compete almost exclusively on cost savings.

    the culture value chain

    The culture value chain

    Now, here’s why corporate culture holds the key to driving customer satisfaction. A strong vibrant culture with engaged employees permeates the entire organization.  It makes people want to work for you and makes target customers want to buy from you.

    A strong corporate culture can also achieve top-line growth. We have seen proof from our own clients. For example, a global TELUS International client in the social gaming space with a great corporate culture experienced employee engagement of 80%  over one year span.  During the same time period, they also saw their annualized attrition rate fall by 7.1%.  Their Net Promoter Score increased by 26% and overall revenue increased by 12%.  The argument here is that a strong and vibrant customer-centric culture served as the foundation of the followed success.

    TOP-LINE and BOTTOM-LINE Impacts of Culture

    Links between employee engagement and business success for organizations and their internal call centers seem to be reinforced year after year. The top 25% most highly engaged organizations continue to have significantly higher productivity, profitability, customer ratings, lower turnover and absenteeism, and fewer safety incidents than those in the bottom 25%. (Source: Gallup, State of the American Workforce, 2013)

    Measuring and tracking of all the positive impacts of engagement can be challenging, but cost savings and elevated levels of performance associated with lower employee attrition offer a clear place to start. Research from Aon Hewitt finds that companies with industry leading engagement have 40-50% less turnover. Those companies experience immediate financial benefits, including a 55% reduction in recruitment costs. (Source: Engaging Employees for Business Success, 2008).

    Download the full research by Frost & Sullivan and TELUS International to further explore the correlation between employee engagement and revenue growth.

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