...But It Will Improve Your Bottom Line
As our world continues to change rapidly, so do the dynamics and experiences at play in our organisations. In the recent decade we have seen several work shifts, such as the introduction of flatter organisational structures, greater desire for stronger ‘social’ connectivity, and greater transparency, with much of this being powered by various new technologies and digital platforms, along with changes in generational attitudes.
Salary, benefits, and flexible-working arrangements are no longer the drawcards or career anchors they once were. They are now mere hygiene factors that are expected by employees and in isolation are not enough to encourage engagement, loyalty, and productivity.
By understanding what matters most to your employees and customers you can take action to improve engagement and drive meaningful culture change to enhance their experience of work, and ultimately optimise your organisational effectiveness. Deeply understanding and managing these experiences and interactions with your organisation allows you to target your activity and provide a strong return on investment in employee, workforce, retention, succession, development, recruitment, culture, and other essential programs.
Something we regularly see when working with clients looking to enhance their culture and boost their employee value proposition is a strong desire for connection to a company’s purpose, impact, values, and the need to feel seen, heard, and be recognised for meaningful contributions. These emerging factors are key drivers of attraction, engagement, and retention of top talent and further highlight the connection between organisational outcomes and culture.
In an ideal state, company culture would be consciously co-created and nurtured strategically and practically through the involvement of everyone within an organisation. It would be recognised as the heartbeat that permeates organisational frameworks and be supported by a culturally aligned leadership style that leads to highly rated employee and customer experiences that deliver top organisational results. This is by no means a hypothetical scenario.
In Australia, we have seen several highly successful organisations rise to the top in recent years by virtue of a similar model. We have also witnessed the very public scandals and demise of major companies, including high profile organisations in finance and technology industries, who commenced their growth journeys with this approach but fell victim to organisational cultures that went rogue. There are no warm and fuzzies here, just hard facts and realities that affect organisation reputation and damage your bottom line.
In the current environment, many organisations are re-evaluating and re-considering their corporate strategy. This shift in thinking provides an opportunity to shine a spotlight on culture as a strategic lever for enabling the attainment of organisational effectiveness and performance objectives. Action in this space includes undertaking a culture audit, creating whole of organisation alignment to culture and values driven behaviours, embedding culture in strategy and operations, and importantly investing in the development of leadership capabilities for leading culture.
Your strategic advantage is only as strong as your organisation culture, which exists whether you proactively create it or allow it to develop by default. Culture is where success starts so don't leave yours to chance. Contact us on 1300 266 995 to arrange a complimentary Culture Discovery Session to discuss ways to ensure your culture has a positive impact on your bottom line.