The importance of organizational culture is never in question when things are sailing smoothly in a business structure. It means that the policies, values, and objectives of the organization are in synchronicity. There exists a structure and everyone working around this structure is comfortable with how things get along. It is a happy scenario for everyone. However, when that doesn’t happen, we can detect signs of failing corporate culture.
What are the gaps or indicators of corporate culture struggles? Let’s consider some important facts.
- Almost half (47%) HR leaders admit that employee turnover and retention are their primary challenges.
- Randstad’s Employee Branch Research report depicts that the top reasons for employees’ leaving jobs are:
- limited career paths (43%),
- lack of challenging work (30%),
- work-life balance (28%), and
- lack of recognition (27%).
- Gallup’s American Workplace report indicates that organizations with high engagement posts 41% reduction in absenteeism and a 17% increase in productivity.
- OfficeVibe’s State of Employee Engagement poll maintains that ‘33% of employees don’t believe their company’s core values align with their personal values’.
It turns out that engagement, recognition, and acknowledgement are the detrimental forces that set the tone of employee experience in an organization. And this experience is directly correlated with the cultural ethos found in an organization.
But why is organizational culture so influential?
It offers an identity to the organization, the teams, and individuals employed. The structure of enterprise culture also drives the core organizational values. If the organization is unable to put its core values in action, it is a recipe for failure. Moreover, when employees advocate about the organization, it indicates that something is right. However, fragile work culture can turn those same advocates into adversaries. An organization with a strong culture will have a pool of satisfied employees. These are the people who look forward to staying - as it happens in firms like Google, Accenture, and P&G with the great work culture.
Here are the critical challenges in organizational culture:
# 1 Implementing Core Values
Defining meaningful core values may not be that difficult, but much harder to implement them in the work culture.
# 2 Cultivating Core Values
Even after the implementation, maintaining these values is one of the challenging jobs for the leaders.
# 3 Employee Participation
Moving forward towards growth is possible only with a committed and involved people. Employees must understand the values and culture of the organization and be willing to match it with their individuality.
# 4 Mindset for Change
As corporates move forward, cultural values demand changes. This shift is often not that easy. Leaders and decision-makers must maintain a mindset that accepts cultural changes with shifts in technology and values.
All these are the examples of exponential change we are witnessing in the corporate world. The race to innovate is fantastic but intense at the same time. Perhaps, innovation is going too fast and becomes a challenge to keep up.
Organizational culture is the key driver for engagement and employee retention. Ultimately, it becomes the reason for success or failure for the organizations. It is one of the most vital factors that business owners and decision-makers can implement & practice. The culture at the workplace builds an emotional bond with employees, which makes the organization more competitive. No sooner your employees start complaining and procrastinating it is the ominous signs of corporate failure.
Teams which are adaptable and agile to grow and remain technically curious for the futuristic technologies will survive and thrive. For such organizations, Zinbucks offers engagement & experience of AI to adapt and innovate into the fast-paced future.