Think culture doesn’t impact your bottom line? Think again!

2016.03.17_culture and bottom line
Whether it is ever formally cultivated or addressed, each organization has its own unique culture and, like it or not, that culture is a key driver of the organization’s sustained success or failure. Very few organizations manage to succeed in spite of themselves – they are the exceptions, not the rule. Far more often, research tells us that positive and productive cultures help organizations to thrive, while dysfunctional cultures will sabotage even the best strategy and/or business plan.

In recent years, the focus of many organizations has shifted towards talent at an individual level. This shift, while important to ensure critical “gaps” within the organization are filled with the best available talent, may in fact result in a weakening of the organization’s cumulative culture. This myopic approach to talent has robbed many organizations of the ability to see broad trends that affect large employee populations. In order to be truly effective, organizations must “dual-track” their approach to ensure individual gaps are addressed, while monitoring broad, and potentially more costly, organization-wide gaps.
Here are just three reasons why is it important to measure and monitor your organization’s culture, remembering that a dysfunctional culture can have the opposite effect in all of the areas listed below.
Positive corporate culture can…

(1) Build competitive advantage. While many other aspects of an organization can be replicated, from strategy to processes to technologies, a corporate culture that works to execute these elements is another story. Culture, like a family dynamic, grows over time, and is virtually impossible to replicate.

(2) Enhance Execution, Efficiency, and Effectiveness. Organizations that have fostered truly effective cultures have built up high levels of trust, stewardship, and resolve. Culture can become the grease that moves the organization forward at lightning speed.

(3) Impact Perception in the talent market. Many organizations’ reputations precede them. Top calibre MBA students, and high level specialists, intuitively know that their skills and work ethic will be put to the best possible use at organizations with cultures that mirror their own personal view of success. Culture becomes your most effective recruiting tool.
If you would like to know more about The Beacon Group’s approach to Organizational Culture surveys, please contact us and we’d be happy to talk with you, or visit our website to learn more: Read More Here