Culture has a greater impact on success than talent does.
Quantifying and managing organisational culture is critical for bringing an organisation’s values “to life,” supporting the implementation of its strategies, and promoting adaptation, goal attainment, a winning performance and sustainability.
Behavioural norms have a significant impact an organisation’s ability to solve problems, adapt to change, and perform effectively at the top level.
At the organisational level, research shows a relationship between the right culture and outcomes including a winning performance, increased net profits, employee engagement, safety and reliability, successful merger integration, creativity, adaptability, and customer satisfaction.
Culture is in many respects behaviour and its starts from the top downwards, but the different departments or teams are going to have differing subcultures depending on the behaviour within that grouping.
The Australian Securities and Investments Commission (ASIC) believes that culture within financial services organisations is more likely to be influenced by middle-management than by chief executives. ASIC chairman, Greg Medcraft, has told a Challenger Legal and Corporate Affairs team offsite that evidence showed that organisational culture existed primarily at the individual business unit level. "We know that employees are more likely to be influenced by the conduct of their direct managers and/or the top performer in their unit than they are by the board and other senior leaders," he said.
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