"Organizations with strong culture outperform competitors"

"Organizations with strong culture outperform competitors"

In today's dynamic business world it has become extremely important for companies to constantly change according to the situation, restructure their business models, revamp their products and reinvent their approach to customers and stakeholders. In this scenario of rapid change, few companies survive the onslaught of change and forge ahead successfully while others fall on the wayside or disappear altogether.

So what are the factors that make some companies more successful than others and make them outperform their competitors and retain their lead position? In the research to find an answer to this question, business leaders and management experts have found out that the culture of the organization, which includes the collective attitude and employee mindset has a profound impact on the performance of an organization. This fact has been emphasized by the legendary Jack Welch who used this wisdom to establish a strong culture in GE and steer his company successfully. Management scholars too have reinforced the fact that companies with a strong culture are more likely to outperform their competitors in the industry. So what are the factors that constitute a strong corporate culture? Though these factors may vary between companies, there are certain common features that they share, these include:

Alignment of goals: Most of the employees in the organization are aware of the company vision and core values of the company. More importantly they feel a strong sense of alignment with these factors in the sense that they are able to identify their own individual goals within the larger framework of organizational goals. Employees are also aware of how their work contributes to the company's objectives.

Focus on work: Employees are focused on their work and know their duties and are willing to put in their best to it. They are determined to finish the tasks allotted to them rather than complain about obstacles faced to achieve them.

Accountability: Every employee across the board shares a strong sense of accountability for the results. Accountability of members is evaluated through assessment of collective and individual performance. Such organizations also assess performance using key performance indicators (KPIs) that employees share and understand.

Reinvention: Such companies are constantly willing to reinvent themselves and employees are free to give suggestions and ideas to change the way things are being done as long as it engenders further success for the organization. To allow this, processes are clearly defined.

It takes time for companies to develop the qualities that are inherent in a strong corporate culture and an important factor to maintain this culture is employee engagement. Employees have to trust and believe in the leadership of the company to be motivated to work on their plans. They have to have a sense of belonging and a feeling of pride in working for the organization. They need to be happy and satisfied with their work and also find it interesting. In addition they need to be provided with opportunities for growth and development of their skills. The right work environment is also important for employees. The environment has to foster cooperation and camaraderie among team members and more importantly, they ought to have a healthy and professional relationship with their managers. Besides employee engagement, the presence of a visionary leader helps in the establishment of a strong corporate culture. The leader's words and actions inspire employees to deliver better. This process takes time, but the bigger challenge is for companies to sustain this success even after these leaders have gone. This can be done only if the features of a positive culture are ingrained in employees and reflects in their work. This can happen, provided these cultural traits become a part of the company's DNA. Companies do not become successful overnight, it is a slow process but more importantly this success has to be sustained to stay ahead in the dynamic business world.

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