ARTICLE: The Truth About Culture, Coaching and Corporate Performance
This was originally published via Rob Roy Consulting on March 15,2022.
Why Culture Matters: The Business Rationale
Culture is no longer a nice-to-have. As employees consider what organizations they choose to work for, it’s a driving factor in their decision making.
LinkedIn’s Global Talent Trends 2022 report highlighted a number of elements that speak to the importance of a culture, for talent acquisition and retention:
People looking for a new job right now care a great deal about company culture and values and how that company will treat them.
The top three priorities of people picking a new job: work-life balance (63%), compensation and benefits (60%), colleagues and culture (40%)
Globally, 40% (for the U.S., 41%) of people looking for a new job are considering company culture as a part of their evaluation criteria.
There is a trend of companies expressing their care for how employees feel and are treated.
From 2019 to 2021, there was a 147% increase in the share of job posts that mention “well-being”
From 2019 to 2021, there was an increase of 73% in company posts about “well-being”, with a 5% increase engagement with those posts.
66% of Gen Z and 51% of Millennials say they want to see more investments in mental health and wellness to improve company culture ... this is important, since 77% of Gen Z and 63% percent of Millennials say they are looking for new employment soon, compared to 33% of baby boomers.
Companies are responding to this shift in potential employees’ desire for a strong, healthy company culture.
From 2019 to 2021, there’s been a 67% engagement boost when a company’s post mentions culture.
From 2019 to 2021, there’s been a 35% increase in LinkedIn posts about “well-being” and a 15% increase in posts about “company culture”.
And there’s another reason culture matters—because it allows us as individuals and leaders to feel fulfilled, authentic, and meaningful in our work. And more, with purpose becoming a buzzword, practicing our culture gives us the ability to practice our integrity.
So, how does one go transforming and living the kind of culture and values you aspire to? Let’s dig in ...
Cultures Are Living Entities, Values Are the How to Practice Culture
Cultures are living entities. Just like businesses, they’re not stagnant. They scale and pivot and often expose to us what we may not be aware of — if we don’t proactively engage them. What a source of rich information. It’s like the heartbeat of an organization. And just like our heart, we know it’s good to proactively take care of them, eating healthy, exercise, meditation, sleep, etc. The same is true of the culture of an organization as it’s a reflection of your most powerful asset. Your people.
And more, if we don’t proactively engage them, we can be victim to what they become on their own — which may not be reflective of what was originally intended. So, how does one go about proactively engaging a culture? Just like there are categories for your heart (sleep, nutrition, exercise, etc.) there are categories for your organization: Purpose, Measurable Values, Community.
Your Purpose Serves as Your North Star
Ensuring your company is aligned around a guiding business purpose can help you stay on track towards growth, profitability, and employee fulfillment. When your entire organization knows where it’s supposed to be headed and why, that empowers them to think creatively and ingeniously overcome obstacles, rather than sticking with some paint-by-numbers tactics devoid of purpose.
Your Values Enable You to Walk Your Walk
Many organizations have their values up on the walls or in brand guidelines – however, where else do they appear? Are they measurable? Are they practiced and reinforced? Are they included in reviews? There’s a hidden danger to all this talk about purpose, and that is if all this talk remains just talk. Companies can’t just pay lip service to a sense of purpose and consider the task complete. They have to exemplify it in their behavior, from the top of the organization right down to the front lines. It has to be authentic and integrated into the culture. Companies have to walk the walk, not just talk the talk. Because if we don’t live our purpose, customers, employees, and other stakeholders will see right through it. Values are how to ensure to walk your walk.
Creating Shared Agendas as a Bridge to Community
We can find new possibilities when we’re able to integrate business decisions and purpose with that of the people and institutions around us. A way to do this is by identifying the shared agenda. The driving factor is to shift the focus from win-lose (defeating other) to defeating the challenge in a manner that everyone benefits. This contributes to the trust of the relationship. And here again, purpose plays a pivotal role. You can create a win-win environment with partners and alliances who have common purpose and are on the path to becoming more productive and engaged.
The organizations who will thrive the most in this hyperconnected world are those who learn how to live in cooperative harmony with the world around them (from their team to their partners, to their potential customers). And the businesses that will survive these times will be those that move into cooperation and co-creativity. It’s no longer about playing a zero-sum game where I win when you lose. It’s about creating mutual successes by participating in ecosystems of value rather than trying to dominate markets. Understanding the personal values of your team provides the opportunity to create a shared agenda and build this regenerative ecosystem.
What's the Surprise Key Ingredient? Coaching.
Coaching, like many healing modalities may come with a stigma. With misperceptions. An admonishment of weakness or inexperience. Quite the contrary. Because inherent in coaching is the commitment and willingness to growth. Coaching provides an incredible reflection of what may be happening consciously as well as subconsciously. In fact, with coaching, unlearning and learning can happen at the same time. They inform each other. In order to build new habits that promote intentional growth, we have to unlearn which patterns may be preventing us from recognizing our choice points.
There are teachable techniques and frameworks for many of these questions. And there are times when the best thing to follow is your own intuition, instinct, and sense of integrity. That’s why executive coaching is so valuable. It gives you the opportunity to:
Learn from others’ mistakes
Learn new models you can apply
Learn how to learn even more from your own inner voice
Access your authentic voice
Be accountable
Align to individual and organizational purpose
And perhaps most importantly, coaching can make the difference between simply doing a job and loving the work—because it demands and calls forth the best in you.