Profits increase by 23% when you hire people that fit into your company culture, according to new research at Cornell University. Researchers studied 323 small businesses across the country and found that revenues went up 22%, proft went up 23%, and turnover went down 67% when you hired employees based upon the following three criteria:
- Hiring employees to fit in with company culture, rather than just hiring solely on a job candidate's individual skills.
- Trusting employees to manage themselves, rather than enacting strict controls.
- Creating a familylike environment, rather than trying to motivate employees solely through money.