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All too often, companies find themselves
in a similar situation, neglecting the importance of culture. Maybe your business is at
a similar crossroads: You’re not necessarily
moving backward but you’re certainly not
moving forward. Has culture become your
barrier?
associated with people, performance
and productivity can stymie companies.
WHAT IS CULTURE?
• Attracting and Retaining the Right Talent:
For an organization to grow, it has to be
able to attract and retain the best employees. A strong cultural underpinning is a
great draw for talent. In fact, employees
who work at a company with a strong,
healthy culture are 87 percent less likely
to leave their organization. And, with
the estimated cost of employee turnover
being one to one-and-a-half times salary,
reducing turnover can have a huge impact
on a company’s bottom line.
Quite simply, culture is a “way of life” for
a group of people. Within a business, this
way of life is accepted, generally without
much thought, and is passed along from
person to person through communication
and imitation. Every organization is unique
in the way it lives, breathes and executes.
Understanding this—and what your culture
should be—is critically important as a leader.
“As a leader, your job is simple: Determine
what you want your culture to be and figure
out how to lay the building blocks,” Hebert
says. “It’s the second part that decision
makers often neglect to implement.”
THE SIGNIFICANCE OF CULTURE
There is no denying that the technology
world is evolving at a staggering rate—
a movement that is both hindering and
driving success for organizations. But as a
CIO, you know this. You see how difficult it
is to hire the right individuals, achieve peak
performance levels, and drive productivity
amid a sea of daily struggles. The challenges
Finding your culture is a great first step
in tackling these challenges head on.
With the right culture, you can help your
organization by:
• Driving Profit: Culture is not just some
fancy word with little monetary value; it’s
directly tied to ROI. Specifically, companies
that have strong cultures will grow their
profits three times faster than those that
don’t. If you create the right kind of culture
that aligns with where you are trying to
go, your likelihood of success is that much
higher than if your culture is randomly
created.
• Bolstering Productivity: It’s been found
that companies with a healthy culture
have two times higher productivity than
those that don’t.