Why You Should Invest In Cultural Transformation Right Now?

Cultural Transformation is critical for any organisation of any size to realise their goals and minimise productivity losses arising out of employee disengagements, indecisions and lack of collaborations. Many old and new entrepreneurs are grappling with this ongoing challenge for many years now; the bitter truth is - these internal problems are increasingly getting difficult to manage. While all organisations focus primarily on the growth and some of them despite this struggle have successfully grown their business. But with growth, internally things are falling out, the customer complaints are increasing, company leaders are moving from one firefight to another. Sometimes it seems the entire pyramid has been flipped inversely and the top leadership team are at the bottom of the inverted pyramid.

Let me give you seven good reasons why you must invest in a cultural transformation now. And how you can take simple steps to start transforming your organisational culture? 

The Changing Business Environment

Today, we live in a world of experience economy driven by the comfort and convenience of the customer. Businesses around the world are grappling with the issue of delivering customer expectations. The business economy has progressed from the service economy to the experience economy, while many businesses are yet to evolve from commodity and goods economy.

A New Generation at Work

Millennials are asking businesses to change their ways. Management styles of companies need to transform to address the demands of the new working generations at the same time management teams are finding it increasingly difficult to keep their young team motivated and meet rising customer expectation. Business owners are getting sandwiched between customer expectation and employee commitment.

Business Disruption & Digitalisation

In this new economy driven by digitalisation, traditional businesses are grappling with the adoption of digital technologies. While technologies have emerged for good, not being able to utilise these technology is becoming an even bigger issue. New age companies are defying the old norms of the businesses. In the era of VC Capital & Global Funding, companies are luring customers with exciting offers, sometimes selling them cheaper than the market value to acquire the customers, something that traditional business is unable to deal with.

Rising Stress Levels

In a recent article posted on Forbes suggests that in the last three decades, the stress levels have increased by 30%. It is not only affecting the workplace but also impacting the personal lives of people. People are increasingly finding themselves torn between their work and their own life. Divorce rates have gone up. Children are bearing the brunt of this turmoil. Workplace stress is now snowballing into a major health epidemic.

Finding & Retaining Talent

Most business owners and HR professionals will point out the challenges in onboarding the right talent. Today talented professionals have far too many options, and their expectations from the companies have also risen exponentially which the smaller companies are not able to fulfil. Employers complain of candidates not turning up to the job after taking up the offer, in fact using the appointment letter to gain an even better package from some other companies.

Attaining Customer Delight

Creating customer delight is easier said than done, especially when the market is crowded with look-alike competition. Whatever new you create, your rival catches up with it. Technology has increased customer expectation levels at a neck-breaking speed; without a committed and collaborative team, achieving customer success is hardly possible.

The Buck Stops at You

As a business owner, you have brought the company to where it is currently. Your relentless passion for growing and excellence has been the guiding force for the organisation, but if you wish your organisation to thrive and continue its legacy forward, you'll need to gift your company with a culture that allows it to succeed beyond your time.

Take a step back from pressing the growth pedals and focus inside. It’s time you begin the 'listening tour' of your organisation. We have broken the task for you in the following four parts.  When you listen more, your team will be able to help you accomplish these milestones.

Defining the purpose:

Begin with an assessment of what is missing from the current culture that is hindering the effectiveness of the organisation. What kind of employee behaviour is not acceptable? Create a core group which defines the overall purpose of the organisation that is beneficial for the growth of the business, as well as determines the essential criteria for selection of candidates.

Revisiting policies and processes:

Once the cultural framework is done, draw the connection between the current policies and procedures that are not creating favourable results. And how new systems can be designed to get the desired results.

Internalisation:

Authenticity is the key to internalisation of culture; it's not "carrot" or incentive driven management to practise. It must genuinely move people by acting in a manner that matters to people working within the organisation. An organisation must learn the different stages of the employee life cycle.  How to create conditions favourable for different stages of an employee, so that they get new direction and assistance from the company to stay productive and committed?

Transformational Leadership:

Our business environment has evolved over the years. However, the perception of the boss has remained the same - someone who orders in a dominated manner. Boss is considered to be someone, whom people are afraid of in the organisation, employee's body language changes in the presence of the boss. How in such an environment, people could thrive? Why can't in the presence of the boss people feel more confident and safe? 

In order to get a framework for transforming your company culture and drive organisational growth, write to us on info@ceobottomline.com or visit creativefactor.in/smbservices

About Creative Factor

Founded in 2009, Creative Factor (CF+) is a business communication and consulting firm committed to bring change inside organisations and alter their perceptions outside, by allowing them to thrive in the ocean of possibilities. And we do it with the help of our in-house expertise on business consulting and communication services.