Economic difficulties reduce the level of investment in corporate culture

The 2023 corporate culture maturity measurement report announced by Blue C on December 12, 2023 was built based on survey results of 195 businesses from 13 different industry groups. This is the third consecutive year that Blue C has conducted a market survey to provide assessments of the current state of corporate culture in 2023 and predict prominent trends of corporate culture in Vietnam in 2024.

The survey uses the CCMM (Corporate Culture Maturity Measurement) measurement toolkit to allow businesses to self-determine their cultural maturity level, clearly identify factors that need improvement, and thereby have a basis to propose measures. to develop corporate culture in the future.

Survey results show that the cultural maturity level of businesses in 2023 will decrease from level 4 to level 3 (on a 6-level scale) with an average score of only 40.14 points, a decrease of 4. 26 points compared to 2022.

According to the report, the three industries with the highest level of corporate culture maturity in 2023 are: finance - banking - insurance; hotel Tourist; service.

All 14/14 factors of corporate culture decreased, the biggest decrease was in the Measurement and Budget criteria, marking a year of many challenges for corporate culture.

Specifically, for the Measurement criterion, up to 73.84% of businesses have not measured corporate culture or have measured it but only integrated it into other survey and listening programs.

Regarding the Budget criterion, the survey results show that only 36.41% of businesses have enough budget to implement corporate cultural activities. The proportion of businesses having difficulty applying for budget for corporate culture increased by 5.3% compared to 2022. The report stated that the general difficulties of the economy are clearly affecting the level of investment in resources for corporate culture.

 Regarding the difficulties in building corporate culture, the answer from the majority of businesses is that they do not master how to do it and lack implementation skills, which are causing major obstacles to building and developing culture.

Nearly half of businesses (49.22%) participating in the survey said difficulties in building culture stem from a lack of implementation methods and skills; effectiveness cannot be measured and implementation staff is thin. This situation stems from the fact that the overall priority level for corporate culture training has decreased compared to last year. In particular, awareness and skills training programs for managers and specialized teams decreased from 28.20% to 19.48%.

Having gone through a turbulent year 2023, nearly half of businesses participating in the survey are looking forward to 2024 with the task of reshaping the corporate culture foundation for new development strategies.

Increasing employee experience, creating an innovative and creative environment, and building a learning organization will be the three main trends leading corporate culture in 2024.

Assessing the outstanding trends of corporate culture in 2024, Mr. Le Quang Vu, CEO of Blue C, said that corporate culture is like the wind, although invisible, it brings impacts very big. In a more volatile market context, culture must be steadfast to increase internal strength and build an innovative and creative environment.

However, building corporate culture needs to be suitable for a volatile market context and requires high flexibility and adaptability. According to Mr. Le Quang Vu, businesses need to be ready and have a clear strategy to overcome these challenges.

Source:Custom News