Corporate Culture Affects Revenue Growth
If you want to create year over year revenue growth, be sure you understand the relationship between corporate culture and growth. Smart leaders know growth strategies must go through culture to produce results. How the company culturally views areas like decisions, customers, markets, quality, and risk tolerance plays a key role in go-to-market strategy execution.
What Corporate Culture Is
We think of culture as how things actually get done in an organization. It is the way employees think, behave and work and includes the values and beliefs that drive business behaviors and practices. It is guided especially by leaders in who they hire, fire and promote and how they themselves behave.
What the Corporate Culture Research Says
Harvard Business School recently reported that an effective workplace culture can account for up to half of the differential in performance between organizations in the same industry. And our own organizational alignment research found that cultural factors accounts for 40% of the difference between high and low performing companies in terms of revenue growth, profitability, customer satisfaction and employee engagement. Culture does indeed play a powerful role in a company’s growth strategy.
A Bad Relationship between Corporate Culture and Growth
An example of a bad relationship between corporate culture and growth would be Wells Fargo. The toxic sales culture at Wells Fargo essentially caused the company’s 2016 debacle and continues to cause serious problems. It was recently revealed that Wells Fargo may have charged half a million of its clients for unwanted auto insurance. And this after the scandal that broke over the revelation that the millions of unauthorized accounts were opened as a result of a push for revenue growth.
Where were their corporate values about serving their customers with integrity? The organization became a target of congressional hearings, their stock suffered huge losses and there was a leadership shakeup. Not the year over year growth they were looking for…
A Good Relationship between Corporate Culture and Growth
We consider Zappos an example of a good relationship between corporate culture and growth. Zappos touts its Culture of Wow whereby each employee is empowered to live the company’s commitment to deliver out-of-this-world customer service. The company claims that their “Core Values are more than just words; they’re a way of life.”
They believe as we do that “companies with a strong culture and a higher purpose perform better in the long run.” Their belief led to their phenomenal success reaching $1 billion in sales in less than ten years.
The Bottom Line
Pay close attention to the relationship between corporate culture and growth. It could make or break your go-to-market plans for high growth.
To learn more about the relationship between corporate culture and growth, download The 3 Levels of a High Performance Culture
4 Keys to Keeping Talent Up to Date
Why Employees Change Their Mind
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Cindee Van Vleck
Director Human Resources
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
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Director, Team Development
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Vice President Human Resources
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Here’s a token of my appreciation for ALL your efforts. I’m offering my most sincere appreciation, and it extends to all the folks who made our customized management development programs possible.
Workforce Planning Bureau
In the Next Generation Management Development courses, I was trained with skills and tools that have made me and my team more productive, motivated, and successful at communicating with other departments.
Firmware Engineering Supervisor
I’ve partnered with LSA Global at two companies now, and I consider them a valuable and trusted training and consulting resource. They recommended just the right solution to address our management development needs and have wonderful facilitators that match YuMe’s culture and style of our management team. I would highly recommend LSA Global to any company wanting to deliver quality learning solutions with a valuable learning and development partner.
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
The refreshing thing about LSA is that they focus on understanding our business situation and helping me succeed instead of selling a product. With over 150 experts, they are an invaluable resource that helps me deliver higher quality results faster. I recommend them to anyone looking to improve the performance of their workforce.
VP of Human Resources
I’ve been associated with LSA for the last 8 years and have found them to be an extremely professional, well managed full service training organization. Since working with LSA, I’ve participated in a number of solutions ranging from Performance Management to Assertiveness Training – I’ve found that the quality of the resources is superior. They are well prepared and have definitely done a considerable amount of pre-work in order to customize our culture and business into the total learning experience – making it most beneficial for our employees.
Human Resource Manager
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
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 contacted LSA Global to assist us with a unique training request. We gave LSA a very short deadline and LSA custom designed a training program to meet our exact requirements within the limited time allotted to them. We found their facilitator to be well versed in the subject matter and very credible; the design provided practical and valuable information to our team of managers. I highly recommend LSA Global, particularly in the area of management training.
Julaine K. Souza
Senior Vice President
“We turned to LSA to help us custom design and deliver a leadership and management development curriculum to help drive performance. They have done an excellent job diagnosing the business situation, designing an approach that fits our culture, and delivering a first class solution.”
VP Human Resources
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