Consulting Services To Improve:
Corporate Culture, Staff Retention and Maximize Performances
Gary Fink, MA, works with various companies both locally and nationally focusing on development of corporate culture, staff retention and getting the most out of your valued and hard working staff.
Corporate culture is often thought of as that touchy-feely stuff that is difficult to define and should be left up to Human Resources to manage. For some it conjures images of toys scattered through the office and Segways running up and down the corridors, while some young pierced tech guy sits at his cube jamming out to music while he works. The reality is that culture is a business issue that has significant impact on a venture’s ability to generate a return on investment and should be prioritized and measured just like other business objectives such as financial growth, product development, sales, marketing and the like. Culture is defined as the identity and personality of an organization. It consists of the shared thoughts, assumptions, behaviors, and values of the employees and stakeholders. Culture is dynamic, ever-changing, and evolves with time and new experiences. Many factors help drive and define the culture, including leadership styles, policies and procedures (or sometimes lack thereof), titles, hierarchy, as well as the overall demographics and workspace. Culture is not just about having Nerf guns and scooters in the hallway. Culture exists in every organization, whether it is by design or by default.
Venture-backed companies understand the key importance of financial performance. They often live and die by it. The board will generally have stated goals around spending control, revenue generation and/or revenue growth. Culture, on the other hand, is rarely a metric that is monitored or viewed at an organizational level or by the venture companies that back the organization.
An organization’s culture may be one of its strongest assets or it can be its biggest liability. The reason culture is so important is that its impact goes far beyond the talent in the organization; it has significant influence on the organization’s goals. Culture drives or impedes the success of an organization. With culture impacting the talent, the product, the clients as well as the revenue, why would a company not measure, review and intentionally nurture something so important and critical to its success?
You don’t have to have a name like Google to understand how culture can drive a business strategy. Invodo is a venture-backed company in Austin, Texas, that helps other businesses increase sales through the power of video. Invodo takes pride in its culture, and it intentionally drives and promotes that culture with its new employees. One of the ways it does this is with a scavenger hunt for new employees that they have 30 days to complete. Items on the list include introducing yourself to the five executives of the company and scheduling a lunch with each one of them. Other items on the scavenger hunt include finding out how the company got started, identifying who was the first employee of the company, sitting in on a call with an Enterprise Sales Representative and finding out where the co-founders’ favorite coffee spot is located. Also as part of the hunt, new employees have to memorize the Invodo code (company values) and the mission statement. They then recite it at the next quarterly meeting. It is an incredible way to quickly integrate new employees into the organization’s cultures and to energize them about the company’s mission, vision and values.