Assess Company Culture
Company Culture is one of the top leadership priorities for CEOs but according to the Q3 2019 Vistage CEO Confidence Index, which measures the economic optimism of CEOs of small and midsize businesses, nearly 2/3rd (63 percent) of CEOs say they “strongly agree” that to assess culture is essentially critical to their company’s performance and overall success.
And yet, just 11 percent of CEOs in this same survey said they are satisfied with the strength of their organizational culture. So, how do you create the culture you want? The first step is to look within. Here are three questions derived from one of our latest reports that every CEO should ask at the outset of their cultural journey.
1. Are we attracting people or driving them away? Assess company culture?
Strong company culture can be a powerful recruiting attraction. Talented people search for a cultural fit, and hence they’ll pay attention to your company’s overall vibe when deciding whether to join your company. If you have high turnover rates or low retention rates, beware: A cultural problem could be the underlying cause. If you have high employee referral rates, bravo: This usually indicates a positive culture, since happy employees are much more likely to make referrals.
2. Am I leading by example?
Ask yourself if your behavior reinforces your company’s mission and vision. If the answer is no, perhaps it’s time to change course and assess organisation culture. You don’t truly live your purpose, your employees won’t either. If the answer is yes, don’t stop there. As a leader, you need to continuously communicate the culture you want. Company Cultures will mutate if not consistently reinforced and articulated throughout the organization.
3. Are employees motivated or just going through the motions, do assess company culture?
So culture has a huge effect on employee engagement, which in turn can impact productivity. When people are engaged – as in, feeling valued and enthusiastic about their workplace culture – their performance tends to be higher than those who are disengaged.
Conducting engagement studies or pulse surveys can give you a sense of your employee engagement levels. Looking at metrics like productivity can also help you make the connection between culture and performance.
Be deliberate about your culture. If you are unsure about the direction your organization’s culture is taking, start by careful consideration of these three questions. Your responses will provide the grist for the beginning of an executable plan for redefining the culture you want for your business.
Credits : Joe Galvin, HR Global