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CEOs are Leading with Culture to Boost Employee Engagement and Bottom Line, Reveals New Data from Heidrick & Struggles
- Almost three quarters (71%) of CEOs highlighted culture as a top factor positively influencing financial performance—up from 26% in 2021
- More than half (59%) say it’s either very important or crucial to link culture directly to strategy to see financial benefits
- More than half (53%) reported their focus on culture significantly improved employee retention regardless of working model—be it remote, in-office or hybrid
CHICAGO, July 26, 2023 /PRNewswire/ — Against the backdrop of a hybrid work model and an uncertain economy, organizational culture is more important than ever to boost employee engagement and retention, company performance, and financial results. That’s according to data from a new survey of 500 global CEOs published today by Heidrick & Struggles (Nasdaq: HSII), a premier provider of global leadership advisory and on-demand talent solutions.
“Aligning culture with the bottom line: Putting people first” found that CEOs are increasingly focusing on culture, proactively engaging employees’ mindsets, and ways of working as a path to specific business outcomes to drive financial performance—and that they are overwhelmingly seeing positive results.
“An intentional focus on Company culture cannot be separate from business strategy, the two need to be inextricably linked, and when aligned can lead to significant financial returns,” said Rose Gailey, Co-leader, Culture & Organization Practice at Heidrick & Struggles. “CEOs looking to accelerate performance in today’s volatile market can do so by ensuring culture remains at the top of their strategic agenda. The data is clear: investing in your people is an investment worthwhile, creating a more dynamic organization better positioned to thrive in a rapidly evolving business environment.”
Surveying 500 CEOs globally, the findings from Heidrick & Struggles revealed that leaders are integrating culture into evolving working models to boost employee experience and innovation, and that their actions are driving financial performance.
A focus on company culture is paying dividends
Of the results, most notably, CEOs are seeing their strategic focus on culture driving financial performance. So, how are leaders building a culture that positively impacts the bottom line? CEOs say the most important cultural element is direction and purpose, which saw the largest growth from 37% in 2021 to 69% in 2023. Other cultural elements crucial to boosting performance include agility, innovation, and growth mindset (57%) and a positive spirit and vitality (46%).
CEOs today are coming to terms with the fact that culture has a tangible impact on company performance, specifically financials—culture is clearly more than a buzzword. The survey found that 71% of CEOs highlighted culture as a top factor positively influencing financial performance—up 44 percentage points from 2021. What’s more, 1 in 3 CEOs ranked culture as the primary factor overall.
A large majority of respondents doubling down in this area are seeing the results: 49% of CEOs said focusing on company culture significantly improved financial performance, with an additional 35% saying it somewhat improved financial performance.
Employee retention: the people-centric approach is working
Culture is not only driving financial outcomes but improving the employee experience overall. In fact, CEOs view the financial benefits as an added bonus, instead driving their culture efforts with an eye toward employee satisfaction and performance.
The leading motivator for CEOs focusing on company culture was increasing employee engagement, more than doubling the number of responses since 2021 from 26% to 54%. The top three reasons for focusing on culture were rounded out by increasing innovation and improving diversity and inclusion. These drivers highlight a growing emphasis on employees and the way they work together—demonstrating that CEOs are taking a people-centered approach.
The survey found that this approach is already proving beneficial. Culture was the top influencing factor on employee retention rates—surpassing even compensation and benefits and workplace flexibility. Almost every respondent said that a focus on culture was improving employee retention, with 53% saying it significantly improved retention and 41% saying it somewhat improved retention across working models. While workplace norms ebb and flow over time, company culture is a mainstay for CEOs regardless of what’s happening externally.
About the research
In Spring 2023, Heidrick & Struggles surveyed 500 CEOs worldwide on the value of corporate culture and how it contributes to the bottom line. These CEOs came from Australia, Brazil, Canada, France, Germany, Hong Kong, Singapore, Spain, the United Kingdom, and the United States. They lead companies in consumer goods, financial services, industrials and energy, healthcare and pharmaceuticals, and technology and telecoms.
About Heidrick & Struggles
Heidrick & Struggles (Nasdaq: HSII) is a premier provider of global leadership advisory and on-demand talent solutions, serving the senior-level talent and consulting needs of the world’s top organizations. In our role as trusted leadership advisors, we partner with our clients to develop future-ready leaders and organizations, bringing together our services and offerings in executive search, diversity and inclusion, leadership assessment and development, organization and team acceleration, culture shaping and on-demand, independent talent solutions. Heidrick & Struggles pioneered the profession of executive search more than 65 years ago. Today, the firm provides integrated talent and human capital solutions to help our clients change the world, one leadership team at a time.® www.heidrick.com
Media Contact
Bianca Wilson
Director, Public Relations, Americas
Heidrick & Struggles
[email protected]
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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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Invitation to presentation of EQT AB’s Q1 Announcement 2024 |
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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