We are far into the digital era, and are moving towards the vision of industry 4.0, but is the organizational culture moving in tandem?
There is a need for a new model of governance, a new culture needs to be born on the foundation of intimacy, openness and trust.
Today, talent wars are no longer won by doling out packages; candidates long for workplaces where their beliefs intertwine with those of the company and exist in harmony while working together with a common vision and purpose.
Recent research findings such as the LinkedIn survey reveals remarkable findings that every growing organization must mind. The findings are stark and clear- a significant majority (two-thirds) of professionals are willing to be paid less to get a better work culture.
People want to work at a place where they can be themselves, and are creating a difference within a company as well as in the society.
The Great Disconnect
90% of CFOs see the link between better culture and business performance; bad culture leads to unethical practices, they believe; according to The National Bureau of Economic Research Working Paper (No. 23255)- Corporate Culture: Evidence from the Field.
Studies show that while the leadership believes they are making efforts to improve the culture, employees (nearly half) do not feel the same. This conflict can cause serious business repercussions like attrition, that can cost up to two times an employee’s annual compensation. The question then is how to resolve this issue?
Measures to Ensure a Great Culture
As an organization, Techment gives a great emphasis to crafting a perfect growth culture. Here are the steps we have successfully taken to influence our culture:
- Giving the power to people to influence the culture
Employees or team members, as we call them, feel most connected when they are given the power to impact the culture. Allowing employees to express their concern in the event when they are in disagreement with company’s policies or actions. This is very important to establish that each team member is free to voice their opinions without being penalized for it.
- Share a little of the Driving Seat
Passion can only be ignited if the team feels they are the fuel. Letting teams pick up projects they are enthusiastic for can make a big difference in their attitudes and engagement.
- Create a Culture of Recognition
It is one thing to give annual awards and another to give them in real time. Acknowledgement and appreciation when given at greater frequency can boost engagement by a long margin and impact an organization’s resilience.
- Refining the Work-fit
Companies should encourage their people to focus on work they feel most passionate about and feel they can bring in most value. People evolve with time, and employers must be aware of their real skills and interests and recreate their roles with time.
- Roles that Connect to Purpose
No one will feel significant if their roles do contribute to the larger organizational picture. It is the responsibility of organizations to make that path crystal clear and also encourage their people to think in these lines.
Organizations must realize that our world has changed and we can not treat our people with the same biometric timetables. When our products, and markets have changed our practices must also evolve. The culture must also be innovated, disrupted and reinvented as do out product, services and customers!