The world of work has been changing significantly. Growing globalization, the rise of AI, digitalization, the gig economy, and the list goes on. Since 2020, companies are now also working through future workplace design – to be or not to be in the office, that is the question! One thing that hasn’t changed? An organization’s culture remains the most critical element of its success; it’s the ‘secret sauce’ that enables a company to outperform competitors, drive growth and innovation, and retain top talent.
So, what is culture? Ask 50 leaders and you’ll likely get as many perspectives back! Overall, culture is described as: the character and personality of an organization; the sum of its values, rituals/traditions, beliefs, interactions, behaviours and attitudes. Or, as many clients we support have said “it’s how things are done around here”.
Culture is as important as your business strategy. In fact, it is THE business strategy. A strong and thriving culture drives financial performance, positively affecting your bottom line: happy and engaged employees = productive teams = profitable results. Other positive outcomes include…
- Attraction and retention of talent
- A compelling EVP (Employee Value Proposition)
- Increase in morale, teamwork
- A strong employee experience (EX), which translates to a strong customer experience (CX)
Iterative and evolving, culture is shaped by a number of elements. In our next blog post, we’ll dive into one of those elements – Diversity, Equity, and Inclusion.
At HRP4B, we are delighted to write content for other publications. This blog was submitted to the Elgin/St. Thomas Small Business Enterprise Centre (SBEC) for their May 2021 newsletter.