If you do a quick search, you will easily find a multitude of definitions of the word culture, depending on the context. For the purpose of this blog, let’s go with the one from the Merriam-Webster dictionary that says culture is “the set of shared attitudes, values, goals, and practices that characterises an institution or organisation”. That rather straight-to-the-point definition depicts what corporate culture is in a nutshell. 

Article published on the PwC Luxembourg Blog

A corporate culture—or organisational culture—is airborne. It is normally reflected in the dress code, business hours, office setup, employee benefits, turnover, hiring decisions, among others.  In sum, it stems from how a company’s employees and leaders behave and interact with each other and with all stakeholders. Moreover, it’s not usually explicitly defined, but rather implied, and developed organically over time from the aggregated traits of the people the company hires.

On a scale from zero to 10, how much weight does a company’s culture have on your decision to accept a job offer? We will take a wild guess and say that even though it’s an important aspect, it’s not a crucial one. Despite being a generation whose expectations in the workplace are values-driven, a study found that 54% of Gen Z job seekers acknowledge that pay is their number one priority when it comes to a first job. In another study, 58% of Gen-Z workers said they were willing to work nights and weekends if it meant achieving a higher income.

But the truth is no one enjoys getting an urgent email or phone call from their manager late at night or during the weekend asking to make changes to a report for a client, or being on holidays and having to deal with something pressing that, apparently, only they can handle. Or even yet, having to continuously work for long hours because the company isn’t—or is having trouble —hiring people. In fact, these are the kinds of situations that often lead people to eventually quit their jobs.

The irony is that, meanwhile, certain leaders who make such demands tend to emphasise the importance of well-being and encourage their people to take time off to recharge. It begs the question: how can you trust someone who isn’t consequent, who says one thing but does the opposite?

As paradoxical as it might be, many business leaders see organisational culture as a powerful ally. So much so that 67% of board and C-suite participants in PwC’s 2021 Global Culture Survey say culture is more important to performance than the strategy or the operating model. Yet, as we will delve into it later on, they don’t seem to turn words into action.

This article deep dives into the major obstacle to tapping culture’s full potential, that is, employee’s lack of trust towards leadership, and the key actions leaders can take to activate a legitimate corporate culture and gain competitive advantage.

Read the full article HERE

Publié le 12 octobre 2021