A regular and exclusive series addressing some of the major challenges facing SMEs today. Icehouse Insights also highlights some of the possible solutions you can weave into your business to solve common issues.
Often confused as something which concentrates on unhealthy employee competition and ‘the bottom line’, a positive performance-based culture instead focuses on making sure people are as effective as possible in their roles.
The benefits of actively implementing, promoting and maintaining such a culture are so numerous for organisations of all sizes; it makes management accountable, encourages employees to arrive each day highly-motivated, and provides transparency on both sides.
A performance-based culture is an organisational culture built on a set of universally accepted behaviours and norms that are encouraged by leaders and facilitated by optimal tools and processes.
A very close relation of a wider ‘company culture’, this particular concept focuses on making sure teams are enabled to be highly effective in their roles.
A positive performance-based culture helps achieve business goals and creates value. When it’s done right, it becomes a huge asset because while so much in business can be copied, a winning culture based on performance is harder to replicate and can be your all- important differential.
What's the real point?
Okay, so it all sounds very nice, but does it really affect how a business performs? Where’s the proof?
Being able to effectively instil a performance-based culture, together with an organisations purpose, fortifies employees, generates resilience and positions employees to emerge stronger than ever.
More than 50% of executives in the US say corporate culture influences productivity, creativity, profitability, firm value, and growth rates. (Forbes)
Having a culture that attracts high-talent can lead to 33% higher revenue. Part of this comes from hiring talented managers, which leads to 27% higher revenue per employee.’ (Gallup)
Moreover, when employees are engaged, absenteeism is lowered by 41%, productivity boosts by 17%, and staff turnover lowers by 24%. (Gallup)...
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