Five indisputable reasons to get off your butt and invest in a thriving corporate culture
Here are five value-packed reasons why you need to be proactive ensuring your culture is healthy. Use them as talking points as you champion a healthy culture for your business.
People Need to Matter
39% of employees don’t feel appreciated in the workplace.
O.C. Tanner, 2018
If employees feel like their contributions to the company don’t matter they will have little reason to give you their best every day. They will spend more time on activities that make them feel good, and that includes pet projects, personal errands and social media. The best leadership qualities emerge when people feel valued and that their talents are making a difference.
Unmanaged Cultures Turn Toxic Fast
Labour and employment lawsuits accounted for 48% of all corporate legal actions in 2017.
Norton Fulbright, 2017
Work is hard; people are competitive, and fears have a way of growing. Animosity, favouritism, bullying, bias, conflict and resentment are all part of the playground politics that emerge when leaders fail to make culture a deliberate choice.
Besides lost productivity and attrition, toxic cultures can cost your company hundreds of thousands of dollars to resolve.
Employees Need a Clear Sense of What’s Best for the Business.
Many managers spend 400% more time influencing staff than is necessary to achieve higher performance.
Gartner, 2018
If employees feel a unifying cultural identity with values which reinforce expectations, they make appropriate choices and solutions. This creativity increases optionality, because a single leader’s bias and self censorship isn’t a constraint. Staff begin making better and better decisions (within their mandate). They act independently and with greater consistency. This protects capacity and lowers waste due to rework. A strong culture makes good choices natural and oversight unnecessary.
Culture Determines Innovation and Resiliency
Return on investment in innovation has declined by 27% over the last five years.
Accenture, 2017
Sustainable advantage requires bold innovation to meet changing conditions. Regardless of how a leader may promote creativity and pushing the boundaries, employees are conditioned to take risks according to leadership’s reaction for stepping outside the box.
Physical and Mental Well Being Is Important
One in two employees would like to see a greater focus on well-being at their company.
Mercer, 2018
Culture will influence the stress level in an organization. It will affect how employees might manage that stress. Unchecked, every problem becomes a crisis, and employees are uncomfortable taking the time they need to stay healthy.
A high-performance culture is the product of good design and a consistent approach among leaders. It is in reach of any sized business.
If you’re ready to start profiting from your culture, TWE will get you there, more focused and much faster. Start your High-Performance Culture Design today!
If you’re ready to take a next step in your career planning, give us a call! We’d be happy to help.
Sources:
https://www.octanner.com/content/dam/oc-tanner/documents/global research/White_Paper_Performance_Accelerated.pdf
http://www.nortonrosefulbright.com/files/20171025-2017-litigation trends-annual-survey-pdf-157870.pdf
“Coaching vs. Connecting: What the Best Managers Do to Develop Their Employees Today,” Gartner (white paper)
https://hbr.org/2018/05/managers-cant-be-great-coaches-all-by themselves
https://www.forbes.com/sites/alankohll/2018/07/10/what-employees really-want-at-work/#51220a165ad3
http://strategyonline.ca/2018/11/27/companies-struggle-to-turn innovation-spending-into-value/