Each society has its values, norms and beliefs that it practices daily. The objective of following such phenomena is common – survival, growth and prosperity. The essential part of such a social system is that it promotes interaction, social connections, knowledge sharing, consensus, collective goals, inclusivity and, most importantly, participation. It promotes social development which, in turn, stimulates and pushes sectors such as the financial, infrastructural, scientific and human sectors. The day such a system collapses, the social fabric will crumble and take a turn for the worse. It will have important ramifications.
However, organizations cannot work in a vacuum. There must be values, norms and beliefs that keep them moving for the same reason towards growth and development. Good companies with good cultures reflect positive traits that lead to improved performance. A good organizational culture is essential to develop the characteristics necessary for business success. And you’ll see its effects on your bottom line: companies with healthy cultures are 1.5 times more likely to experience revenue growth of 15% or more over three years and 2.5 times more likely to experience significant growth of their stocks during the same period. Despite this, only 31% of HR leaders believe their organization has the culture it needs to drive its future business and getting there is no easy task — 85% of organizations fail to transform their culture. It’s a comprehensive guide to making culture a major force in your organization, from what culture is and why it matters, to a roadmap you can follow to create a culture that works. Everytime.
When the workplace culture aligns with your employees, they are more likely to feel more comfortable, supported, and valued. Companies that put culture first can also weather tough times and changes in the business environment and emerge stronger. Culture is a key asset in attracting talent and outperforming the competition. 77% of workers consider a company’s culture before applying, and nearly half of employees would leave their current job for a lower-paying opportunity at an organization with a better culture. An organization’s culture is also one of the main indicators of employee satisfaction and one of the main reasons why nearly two-thirds (65%) of employees keep their jobs. If employees feel the culture has become toxic, employee departure demands will increase.
Qualities of a Great Organizational Culture
· Mutual alignment: when the company’s objectives and the motivations of its employees go in the same direction.
· Appreciation can take several forms: a public congratulation, a thank you note or a promotion.
· Confidence: is vital for an organization. With a culture of trust, team members can speak up and rely on others to support them when trying something new.
· Performance is essential, because great companies create a culture that means business. In these companies, talented employees motivate each other to excel and, as noted above, increased profitability and productivity are the results.
· Team work encompasses collaboration, communication and respect among team members. When all team members support each other, employees become more interested and feel happier performing their duties.
· Innovation leads organizations to make the most of available technologies, resources and markets. A culture of innovation means you apply creative thinking to all aspects of your business, even your cultural initiatives.
Having interactions with employees in the current scenario, they are not primarily looking for the money. They want to work in an environment where there is peace of mind, belonging, recognition and respect. Nowadays, organizational culture plays an important role in attracting talent across the world. Company reviews listed on social websites reflect organizational culture. People who want to join any organization read their reviews or call their friends about the organization. It helps interested candidates in decision making.
(The author is a practicing human resources professional)