CEOs and C-level team members are generally focused on building the right company culture, and the “right culture” for many is a high-performance culture. The term has become a buzz word for company growth, and many executives believe that they have already mastered this culture. But does your company actually have a high-performance culture, and why does it matter if you do?
Why does a high-performance culture matter?
Because it drives your bottom-line. It can impact all aspects of your business, from productivity to revenue generation, retention and more. As defined by Gartner, a high-performance culture, is “a physical or virtual environment designed to make workers as effective as possible in supporting business goals and providing value.”
This environment is based on certain characteristics that support high performance and productivity in all team members. When a company truly achieves a culture built on high performance, it will reap the benefits in their bottom-line. Here are just three tangible effects of a high-performance culture on your company:
- Better employee retention rates. Your company’s culture impacts whether you have a high turnover rate or an excellent retention rate of your top associates. When you have a high-performance culture, you’re twice as likely to retain your best people since you’ve created a future-ready workplace.
- Remarkable customer experiences. Engaged associates make or break the connection between your brand and your customers. If your associates aren’t living your culture, your customers are only a one-time experience, not wowed by the associate creating a customer for life. Remember the old saying, you only get one opportunity to make a first impression and as Emerson says, “Who you are speaks so loudly, I can’t hear what you’re saying.”
- Increased profitability. Developing high achieving team members will grow your business. Creating a culture that supports and brings out the best in them, you can expect greater profitability from your company culture as well as a rewarding place to work.
Characteristics of a high-performance culture
So, how can you tell if you have or are developing such a culture? A company’s culture is led by its CEOs and team leaders. The leadership of the company communicates effectively with the rest of the organization.
Too often, leaders assume that their communication practices are effective. But in reality, their associates aren’t of the same opinion. Companies with a high-performance culture have leaders who have mastered the art of effective communication that inspires and motivates their team to improved productivity.
As Gallup states: Knowing the Mission vs. Connecting with the Mission are two different experiences. I have found that most associates know of or can state the company Mission/Purpose at best. When they are given the opportunity to identify and understand their contribution to the mission, they work with a purpose and it becomes their experience that creates a highly engaged associate. Two benefits
Improved retention rates
When you have a low turnover of associates within your company, and they’re not just staying for the salary and benefits, then you are well on your way to delivering a quality company culture.
A culture of empowerment and accountability
As I note in my book, “Get A Vision and Live It,” every organization wants its people to be fully accountable. But have you put in place a culture that fosters that accountability? One where the vision of the company aligns with what the team is expected to accomplish? With only 23% of U.S. employees indicating that they apply their company’s values every day to their work, it becomes clear that leaders need to cultivate a better sense of accountability to the organization’s values and empower their team to support it.
Evolving through an accelerated high-performance culture
Workplaces are evolving every day, especially with the greater adoption of remote working/isolated teams. So, how you cultivate a culture of high performance will need to adjust in order to meet the changing demands of your organization.
About the Author
Larry R. Olsen, Corporate Culture Expert, Keynote Speaker, Author and CEO of Aperneo: An Achievement Acceleration Company.