The cost of culture

It is true there is a cost to create a real culture, there is a cost associated with the time that you need to put into creating a culture, there is time taken to employ the right the people and to veto the wrong, and there is actual physical cost in having schemes and incentives in place to maintain that culture.

There are many posts by many people that discuss the benefits of having the ‘right’ culture, so we won’t focus too much on that in this post.

But there is one question for you to think about: what is the cost of not having that culture?

The most obvious of these outward signs can be a high staff turnover, and that is costly, but there are many more small subtle yet potentially more costly manifestations of poor culture:

An innate lack of care for the company, a general apathy for what the company is trying to achieve or just treating the job like, well, just a job.

Each of these can present itself in small ways, such as a business plan not triple checked, a product that hasn’t be developed further, clients/customers who aren’t followed up. These represent opportunities costs which can far outweigh any upfront cost of creating the ‘right’ culture.