7 in 10 CEOs say company culture is key to boosting financial performance

This is why 86% of CEOs in Hong Kong and Singapore are working on culture initiatives.

Company culture can positively influence a company’s financial performance, according to seven in 10 (72%) CEOs in Hong Kong and Singapore.

In fact,  82% of business leaders said their companies have seen improved financial results from working on culture.

In response to growing evidence that company culture can help boost overall performance, the majority of CEOs (86%) in Hong Kong and Singapore have been working on culture initiatives.

Data from the Heidrick & Struggles report showed that Hong Kong and Singapore CEOs view" agility, innovation and growth mindset" (72%) as the top cultural element which can boost financial performance, followed by "markets, and direction and purpose" (58%).

The report underscored that culture is “not only driving financial outcomes but improving the talent experience overall.”

“CEOs view the financial benefits as a bonus, instead driving their culture efforts with an eye toward employee satisfaction and performance,” the report stated.

According to Heidrick & Struggles, the leading motivators for CEOs in Hong Kong and Singapore to focus on company culture were increasing employee engagement (51%) and innovation (45%) and improving DE&I (35%).