Do You Have a High-Performance Culture and Why Does it Matter?
Larry Olsen October 1, 2020
CEOs and C-level team members are generally focused on building the right company culture. The “right culture” for many is a high-performance culture.
The term has become a buzz word for company growth, and many executives believe that they have already mastered this culture.
But does your company actually have a high-performance culture, and why does it matter if you do?
Why does a high-performance culture matter?
Because it drives your bottom-line. It can impact all aspects of your business, from productivity to revenue generation, retention, and more.
As defined by Gartner, a high-performance culture, is “a physical or virtual environment designed to make workers as effective as possible in supporting business goals and providing value.”
This environment is based on certain characteristics that support high performance and productivity in all team members. When a company truly achieves a culture built on high-performance, it will reap the benefits in their bottom-line.
Here are just two tangible effects of a high-performance culture on your company:
- Better employee retention rates
Your company’s culture impacts whether you have a high turnover rate, or an excellent retention rate of your top associates. When you have a high-performance culture, you’re twice as likely to retain your best people.
- Increased profitability
Developing high achieving team members can grow your business. With a culture that supports them, you can expect greater profitability from your company culture.
Characteristics of a high-performance culture
So, how can you tell if you have or are developing such a culture?
A company’s culture is led by its CEOs and team leaders. The leadership of the company communicates effectively with the rest of the organization.
Too often, leaders assume that their communication practices are effective. But in reality, their associates aren’t of the same opinion. Companies with a high-performance culture have leaders who have mastered the art of effective communication that inspires and motivates their team to improved productivity.
Improved retention rates
When you have a low turnover of associates within your company, and they’re not just staying for the salary and benefits, then you are well on your way to delivering a quality company culture.
A culture of empowerment and accountability
As I note in my book, “Get A Vision and Live It”, every organization wants its people to be fully accountable. But have you put in place a culture that fosters that accountability? One where the vision of the company aligns with what the team is expected to accomplish?
With only 23% of U.S. employees indicating that they apply their company’s values every day to their work, it becomes clear that leaders need to cultivate a better sense of accountability to the organization’s values and empower their team to support it.
Evolving through an accelerated high-performance culture
Workplaces are evolving every day, especially with the greater adoption of remote working/isolated teams. So, how you cultivate a culture of high performance will need to adjust in order to meet the changing demands of your organization.
If you would like to look at redefining your company’s culture in these changing times, contact me today at 206.799.3163 and let’s start a conversation.