A Strong Corporate Culture Creates More Value to Stakeholders
The global consulting firm Watson Wyatt found that culturally aligned organizations return almost 300% more value to stakeholders. We have found strong corporate cultures can be a competitive advantage.
A Strong Corporate Culture Creates Faster Revenue Growth, Higher Profitability and Greater Employee Engagement
Our own organizational alignment research at over 400 companies across eight industries found cultural factors account for 40% of the difference between high and low performing companies. What factors did we consider as we defined high vs. low performance? We looked at:
A strong workplace culture can indeed make a significant difference.
Defining a Strong Corporate Culture
For the sake of this article, let’s define a strong corporate culture simply as the way work truly gets done in an organization on a day-to-day basis.
Who is Really in Charge of Defining the Culture at Work? HR? Leadership? Employees?
Views on Cultural Ownership Vary
When we ask clients,
Not only do different stakeholders believe they are in charge of defining a strong corporate culture, but HR, Management and Employees often define culture differently.
First, Get Aligned
Without organizational alignment on the kind of culture you are striving for and who will shape it, you may be pulling in opposite directions and never reach the goal of a strong corporate culture that enhances your employee experience and drives profitable revenue growth.
What most company employees, management and line staff alike, can agree on is that organizational culture matters. It is a proven indicator of employee engagement, client retention and financial business success.
Second, Actively Involve All Stakeholders
In our experience of over twenty years helping our clients define and create their unique culture, we maintain that all stakeholders should be actively involved in helping to shape the organizational culture that will best support current business and future growth. It is all about bringing the key stakeholders together to understand how the three levels of a high performing corporate culture:
Third, Work Through the Disconnects
Part of the disconnect is that HR, Management and Employees often have a different view of what employees consider the most important attributes of a strong corporate culture.
In our Best Places to Work Employee Engagement Surveys, employees often rate:
as three priority elements to creating a strong corporate culture.
HR typically rates employee benefits as a leading driver of creating a strong and healthy corporate culture. Interestingly enough, employee benefits has had one of the lowest correlations to employee engagement in terms of employee advocacy, discretionary effort and intent to stay over the last decade across our survey respondents.
Leaders and Managers Want
Leaders and managers most often believe that leading by example based upon agreed-to company mission and values in addition to high levels of customer centricity matter most in terms of creating a strong and lasting company culture.
People Want to Be Treated Fairly
While all three stakeholders have valid points of view, more often than not employees care most about being treated fairly. Employees want to work in a corporate culture where they are:
The Bottom Line
The more agreement and clarity you can achieve around defining the company culture you desire and the talent that will work toward that culture, the stronger your company will be and the brighter your corporate future. Work with all stakeholders to define a healthy, high performance and aligned culture to help your people and your business thrive.
To learn more about creating a strong corporate culture to help your business thrive, download The 3 “C’s” that Create High Performance Culture Whitepaper
4 Keys to Keeping Talent Up to Date
Why Employees Change Their Mind
We have been able to utilize LSA’s extensive network of top-notch resources to leverage our investment in employee development. The result has been the cost effective and highly efficient delivery of quality educational and management training programs.
Vice President, Human Resources
I had been working with LSA for many years with my prior company. Currently, I’m with a company who hadn’t done much basic management skills training. After identifying and presenting a program recently, our managers are excited and talking in the halls about the great experience. LSA saves us time in delivering the right training for our needs.
LSA custom designed a Management Development program that is absolutely “on target” for our technical managers. Their facilitator has done a superb job delivering the material in a way that is fast paced, highly interactive, and fun. She presents practical solutions to the people situations that our managers face every day. I regard LSA as an excellent partner that understands our business needs and a virtual member of our HR department.
Vice President Human Resources
LSA’s consultant designed and delivered a half-day team building solution for our recent conference. It included careful customization to integrate the design with our new mission and values. Everyone had fun and identified key issues with our teamwork. Altogether a great program!
Director of HR
We value our relationship with LSA Global. We came to LSA because we wanted to improve overall behavioral based interviewing capabilities of our managers to increase the probability of both hiring top talent and future leaders. LSA designed a highly customized solution for our business and culture. We are currently rolling out this solution to our leaders. I would highly recommend LSA Global as a top quality resource.
HR Project Manager - Training & Development, PHR
We partnered with LSA Global to help us invest in our people in the areas of performance coaching, diversity, and inclusion. They focused on helping us succeed and were very flexible in meeting our specific needs. LSA Global exceeded my expectations from a speed, quality, and value standpoint. I would recommend LSA Global to anyone looking for a true business partner.
Director, Human Resources
We recently partnered with LSA Global to offer our Supervisors and Managers a customized two-day management training program. Everyone who attended said it was by far the best management training program they had ever attended. The content was rich and highly interactive. The case studies were relevant. Each participant walked away from the training much better equipped to lead their teams.
Director of Human Resources
Thank you to LSA Global for their partnership and support in helping us to design and roll-out our valuable management development training program. I personally have partnered with LSA Global at four of my previous companies. It continues to be a delight working with LSA. We look forward to partnering with them at Blackhawk Networks for future training and consulting needs.
VP Human Resources
We engaged LSA to design and deliver a 6-month custom executive coaching program for a group of our key leaders. The focus of the program was to help a core group of senior leaders to leverage previous investments in management training, to ensure the engagement and retention of key employees, and to push critical strategic initiatives forward. Even with the high expectations of our senior people, LSA has completely exceeded our expectations. I would recommend them to anyone looking to create and implement a custom coaching methodology using proven tools to drive true change.
Senior HR Manager - Staffing, Training, & Development
Understanding and conforming to legal compliance was very important to our company. We turned to LSA Global to provide a quality and cost effective way to ensure that we were AB 1825 compliant. Their interactive eLearning program was top-notch. It allowed our managers to learn at their own pace, and on their own time. The program was tailored to include our logo and our internal harassment policies. It was interactive and met all federal and state legal requirements. I would highly recommend LSA Global to any company looking for an efficient and effective and top quality way to train their managers to be in compliance.
Kelly Warren, SPHR
Director, HR & Compliance
SeaTel has found our partnership with LSA Global to be very valuable and beneficial. We turned to LSA to customize a supervisory/leadership solution to meet our needs. LSA delivered a customized top quality solution. I’d recommend LSA Global to any company looking for a best-in-class training and consulting partner.
I have worked with LSA Global at previous companies and welcomed the opportunity to bring them in to support my new organization. We worked closely with LSA to design a solution for our Client Partner Teams and Management Training on both coasts. LSA designed a customized solution for our business and organizational culture. LSA is a quality organization, one that I’d recommend to any company looking for a first class training and consulting partner that makes an impact.
Chief People Officer
I am very impressed with the quality of work and talent. LSA did a great job of listening to my needs and providing the exact management training program expertise I needed to get the job done.
Director, Business Planning & Analysis
LSA provided top notch solutions right when and how we needed them. They exceeded my expectations from a speed, quality, and cost standpoint. I recommend them to anyone looking for a true business partner in the Learning and Development arena. The breadth and depth of their expertise has helped us hit tight deadlines across multiple projects.
Fortune 500 Financial Services Company
Director of Infrastructure & Technology
Hyperion has a commitment to lifelong learning. LSA helps us provide the right business sales training, management training programs, and leadership development programs at the right time to meet the needs of both individuals and departments. I especially appreciate their ability to listen to my needs and recommend the appropriate facilitators, solutions and content.
Senior Project Manager
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