As Peter Drucker famously said, “Culture eats strategy for breakfast.” In today’s world of work where change happens fast, the first question analysts are most likely to ask a CEO is: “Do you have the right culture to succeed?”
In a recent Bain & Company survey, 81% of executives from large global companies felt that a company without winning culture was doomed to mediocrity. Reliable formula business leaders use to create a culture that treats performance as output and fosters a sense of ownership that is generating outstanding results for not just the customers, but also the employees and shareholders. So, what does this “winning culture” look like, and how is it achieved?
Culture is incredibly important merit because it inspires high commitment employees to believe in and live out the organization’s vision in their daily work. A winning culture acts as a differentiator in the marketplace.
It set the tone for everything from how you attract customers, retain them and turn them into brand advocates to the way you attract highly talented employees and turn them into company brand ambassadors. A company culture, driven by purpose and brand, can accelerate business performance and empower employees at all levels. It paves the way for creating and sustaining the organization’s purpose, brand, and culture that is clearly understood, thoroughly executed and fully supported.
Building a winning culture requires leadership buy-in and commitment. Look at companies like Apple, a great example of a winning culture, where innovation and creativity transcend the company’s boundaries to create a brand value that’s greater than most nations in Europe.
A culture if winning can improve key performance metrics of the organization, such as: innovation, strengths, diversity and inclusion, high performance, and safety.
While the benefits of a strong winning culture are obvious, it is worth noting that not all organizations take the necessary steps to identify, measure and monitor key performance metrics. Successful organizations understand their unique culture, use methods to correctly and continuously monitor the state of their culture, and align the culture with top business performance metrics.
In today’s world, organizations with a strong culture of winning are known to win talent wars. According to our analysis, a strong culture turns loyal employees into brand ambassadors who are committed to positively represent the company. These employees naturally understand the basic elements of the organization’s values, goals and ethics. And that naturally shows higher levels of engagement within the organization. Happy and engaged employees are most likely to spread the good word about the organization. When you have a strong winning culture, employees can speak about why your organization is a great place to work. The best people want to work for you when you have a culture of innovation, growth, and productivity in your organization.
The promises of a strong winning culture fail when executives fail to identify the primary drivers of their desired culture. Most often, it is the result of a patchwork approach connecting organizational values with adaptability, purpose, and competency.
UNLOCK POTENTIAL WITH TRAINING & DEVELOPMENT
New hires feel lost without proper training. According to a BambooHR survey, lack of effective training during the onboarding process is why 17% of new hires quit during the first three months.
A winning culture encourages employees to develop knowledge and competence. And with continuous learning, employees can elevate as a top talent which would open unlimited opportunities for the organization to transform continuously for the better.
There are many benefits of a culture of learning in an organization. These include, but are not limited to:
- A developed sense of accountability and ownership
- Increased effectiveness, efficiency, and productivity
- Increased employee engagement and reduced absenteeism
- A strong culture of knowledge sharing
- An enhanced ability for adaptability and change
A culture of learning also gives employees a preview of what is expected of them and how their contribution would matter to the company’s goals. People often struggle to perform at their job when they’re unsure of the company’s standards. You can effectively handle underperforming employees with this simple step.
Building a winning culture cannot happen without focusing on an employee’s professional development. A culture of learning comes with a growth mindset. It’s something that takes place over a period of time.
Show your employees that you value them and want to help them progress in their careers. Building a culture of learning is the no. 1 driver of workplace engagement.
When you build a winning culture, your employees become more efficient and happy in the work they do. There is a reason why Fortune 500 companies swear by it.