Corporate Culture: Why It is Crucial

Why is everyone (just now) talking about corporate culture? It seems to be the latest buzz word among the big search firms. Hardly a day goes by that I don’t hear about it or see it in an article.

“Corporate culture” has been a hot topic here at Centennial since 1975. In fact, 4 decades of experience shows us that a great corporate culture can actually translate into an organization’s key competitive advantage. The organizations that “win” in this way invest in their culture each and every day.

Data Shows Corporate Culture is Highly Influential

Research has shown that the most talented in the workforce are placing a greater and greater priority on company culture. Top talent is swayed by more than a hefty salary and flashy incentives.

In a recent poll by Hunt Scanlon Media 73% of the respondents cited culture as the most important workplace consideration at their organization. Seventy three percent! That number should make leadership sit up and take notice.

In the same poll, nearly half (48%) of respondents said that culture at their company could be ‘significantly improved upon.’ Yikes. That should give leaders pause as well. Current employees are an organization’s best “talent ambassadors.” Can those who work for and with you share why it is great to work at your organization? If not, you have work to do–especially if you want to attract the best and brightest.

4 Components of a Healthy Culture

Lynne Ruhl, a leading thought leader of corporate culture and one of Centennial’s most trusted advisors, shares that a healthy corporate culture must include four crucial components:

• Respect (including leaders who listen to and hear their employees)
• Trust (actions matching words over time)
• The removal of distortions (think rumor-mill), and–
• Healthy confrontation (a key component of effective communication that cannot be avoided.)

Leaders need to be diligent, humble and sensitive as culture is cultivated and trust is established. The results of doing so are worth the investment. A healthy culture unlocks team greatness. Team greatness frequently equates to rising profit margins.

Be sure to read more about Lynne and her personal experience of unlocking team greatness through healthy culture in her book, “Three Impossible Promises.” It’s a great read that will provide you with transferable ideas for your business.

Corporate Culture is the Cornerstone for a Successful Business

There is no “quick fix” to changing an organization’s culture. Just like an unfit body needs time to get into shape, a business needs “consistency over time” to transform an unhealthy culture into a healthy one. Culture must be created or changed organically– via direct, and often difficult, dialogue, and real, rock-solid relationships.

We have observed that a successful business and a successful candidate need to agree on cultural preferences to be successful together. We recognize that corporate culture is not only the foundation and basis of our business, but also the cornerstone of how we service and partner with our clients.

If you are just jumping on the corporate culture bandwagon, or even if you’ve been on it with us for the last 40 years, let’s talk.

What one word describes your organization’s culture? Is this a word you want your “talent ambassadors” sharing with their networks?