Do You Have the Right Corporate Culture?
Thanks to the success of Netflix and the failure of Volkswagen, more and more companies are beginning to understand how important the right corporate culture can be to creating a high performance work environment.
Corporate Culture Defined
We define corporate culture as how things are truly accomplished in an organization…the behavioral norms and corporate values that are lived and observed each and every day to get work done. Culture is one of the three critical legs of corporate success. When a company’s culture is aligned with their talent and their business strategy, the organization is heading in the right direction to succeed in the future.
Organizational Alignment Research
Our organizational alignment research shows that the alignment of the right corporate culture and talent with strategy helps companies grow 58% faster and be 72% more profitable while increasing employee engagement 18-to-1.
Seven Questions to Test If You Have the Right Corporate Culture
One quick way to measure the strength of your corporate culture is to ask seven questions to see if you have the right corporate culture for your people and business strategies:
If your answer to any of these questions raises concerns, you had better address them.
How High Performing Companies Create the Right Corporate Culture
Here are some ways that our high performance clients have worked to strengthen their corporate culture to be “the right corporate culture” for their business and people strategies and, ultimately, their business performance:
1. Actively Involve Employees in Business Planning and Direction Setting
We believe that the more actively involved employees are in where the company is headed and in making the decisions that directly affect them, the more they buy into the company’s future. And as they feel more ownership, they are more fully engaged in their day-to-day work.
Empowering employees encourages them to stay and to contribute beyond what is simply required to get the job done.
You will know you are headed in the right direction when employees:
2. Consistently and Visibly Invest in People
By taking stock of their current talent and knowing what they will need in the future, high performing companies help employees build an individual development plan and provide learning opportunities for a career path that makes sense for both the individual worker and the organization’s future.
The investment in employee capabilities helps retain top talent, gives firms a competitive edge and highlights the stated value of continuous learning and development.
You will know you are on the right path when employees:
3. Build Strong and High Performing Teams
Believing that strong teams are the backbone of successful organizations, high performing companies make sure their managers understand and practice what it takes to create collaboration and respect among team members. They teach managers how to:
In short, managers became the instruments of raising performance levels across the board. Learning was accomplished on-the-job…the kind of action learning that really sticks.
You will know you are on the right path when:
4. Consistently Recognize Employee Contributions and Hold People Accountable
Effective people leaders know high performers should get a disproportionate amount of the rewards and that underperformers need to improve quickly or move on. They define rewards and recognition linked directly to success metrics.
This motivates people to stay and perform. They also define the consequences associated with sub-standard performance. This motivates people to avoid failure.
You know you are on the right path when:
The Bottom Line
Be deliberate about creating the right corporate culture for your unique situation that aligns with your talent strategy and business strategy. You will reap the rewards well into the future.
To learn more about how to create the right corporate culture, download Learn The 3 Levels of a High Performance Culture to Align to Your People and Business Strategies
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How to Ensure Smart Talent Management
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