New case study reveals the importance of transforming company culture

A new case study uncovers the importance of building a positive company culture for improved employee retention, productivity and innovation.

Cognexo, a leading provider of employee engagement and development solutions has worked with Zenith, the UK’s leading independent leasing, fleet management and vehicle outsourcing business, for the past several years, supporting them in building a highly skilled and fulfilled workforce instrumental for accelerated growth.

The brand-new report reveals the steps taken to improve Zenith’s company culture through improved employee engagement as well as implementing a continuous learning culture. Cognexo was also able to demonstrate ROI by delivering a return on time – saving Zenith 90,000 productivity hours by eliminating the need for ongoing refresher training.

Research shows that businesses with highly rated cultures can attract a wider range of talent — nearly half of job seekers consider it a key factor in their decision-making process.

Dan Buckley, CEO of Cognexo, commented:Understanding when and why to initiate a cultural change is crucial in achieving a strong culture based on employee well-being, community and loyalty. Companies that foster a culture of innovation are also more likely to experience high growth rates.”

The report details some of the key indicators that signal a need for cultural re-assessment:

  • High Employee Turnover: General Market Indicators show a 25% increase in turnover rate over the past year.
  • Low Employee Engagement: Only 40% of employees report feeling engaged at work.
  • Poor Communication: 70% of employees cite communication issues as a major issue in the workplace
  • Lack of Innovation: The quarterly product release rate has slowed by 30% a year.
  • Negative Workplace Behaviours: Reports show a 30% increase in workplace bullying

The report further details the steps that Zenith took in their cultural evolution which was built around creating a feedback culture. Specifically:

  • Conducting extensive listening sessions, totalling 100 hours, with underrepresented groups within the company.
  • Collaborating with a company called ‘People Deliver Projects’ to introduce a unique concept where board members witness employee sentiment simulated through live acting.
  • Establishing colleague-driven inclusion focus groups, such as a Gender Focus Group, empowering colleagues to take initiative and control over their own projects.

Further statistics in the report reveal that:

Organisations where leaders consistently demonstrate cultural values are 70% more likely to have employees who are highly engaged and committed to the company’s mission.

Companies prioritising diversity and inclusion initiatives are also 35% more likely to have financial returns above industry norms.

Stuart Price, Chief People Officer for Zenith, commented: “The strength in creating a feedback culture is uncovering people’s passion for the business and galvanising that into something the employees can take ownership of. You can’t change what you don’t recognise or own.”

Employees who rate their company culture poorly are 24% more likely to experience high levels of stress at work. This highlights the impact of culture on employee well-being and mental health.

By integrating top-down leadership adjustments with bottom-up employee empowerment, Zenith is successfully navigating cultural change to ensure its success continues for years to come. Prioritising inclusivity, communication and employee listening, will help companies cultivate a thriving culture that aligns with their strategic objectives and adapts to the evolving business landscape.

You can view the full report with further statistics and findings here: https://cognexo.com/wp-content/uploads/2024/05/Cognexo-Zenith-Navigating-a-Cultural-Transformation.pdf