"Three External Factors Driving Corporate Cultural Change Today”
by Stephen Gold
"In the drive for success, corporate culture – that is, the implied workplace value system and behavioral environment that permeate a business – has become more and more of a focal point for leaders over the past few decades. As Richard Branson’s “Golden Rule” philosophy above suggests, most leaders today view a strong culture as one that encourages policies that breed employee commitment and contentment. This reflects a significant evolution in the business world over the past century, in that it elevates the importance of the employees’ role within the strategic plan – in fact, it places their motivation at the very heart of the discussion.
Why have CEOs become more interested in culture in recent years? First, they understand that corporate culture and performance are linked. As Anne Mulcahy, former CEO at Xerox, observed, “Satisfied employees means satisfied customers, which leads to profitability.” In his book The Culture Cycle, James Haskett affirmed this by estimating that an effective culture can account for upwards of 30% of the differential in corporate performance compared to less culturally vibrant competitors. "
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