BROOKLYN, NY – March 8, 2013 – The Human Capital Institute (HCI) and PS Culture Matters will release the results of a groundbreaking report detailing how a performance culture can be created and fostered within organizations. Several hundred organizations participated in an online survey and that data, along with additional secondary research, indicates that culture measurement and leadership are a problem for many organizations. At the same time the research illustrates there are 11 key culture metrics, and goes on to demonstrate which metrics are most strongly correlated with positive financial performance.
These research findings were backed by qualitative interviews conducted with senior practitioners, including Colleen Barrett, President Emeritus of Southwest Airlines, Steven Kowalski, Principal in Executive Talent Development at Genentech, and Joann Russell, Vice President of Organizational Effectiveness & HR Planning at Nike. Colleen Barrett of Southwest Airlines remarked about the challenge to establish a strong corporate culture in today’s environment. “Transparency is key, and it is an ongoing struggle facing performance cultures today. Words have to be backed by action,” she said. “To be successful, a culture must be authentic and embraced by everyone within the organization – i.e., from top to bottom; bottom to top; and sideways.”
With flagship companies such as Apple and Texas Instruments benefitting from high talent retention, increased productivity, and creative, engaged workforces, there is little question about the importance of a healthy corporate culture. In this study, five culture metrics were determined to have the most positive effect on financial growth and performance. By capitalizing on these five crucial metrics, the study finds a 14-17% increase in the likelihood of financial growth and performance in an organization. Clearly, organizations that have established a means of measuring the facets of culture more frequently, taking corrective actions and measuring again, have experienced the most positive results. Not only are employees more engaged and invested, but company financial performance increases.
This research report will be published on March 19. An accompanying webcast, hosted by Katherine Ratkiewicz, Practice Leader of the Organizational Development and Leadership Practice at HCI, and Ted Garnett, President and CEO of PS Culture Matters, will also be broadcast. To learn more, or to register, please visit http://www.hci.org/lib/new-research-study-released-connecting-organizational-culture-financial-performance-and-business or www.psculturematters.com.
About Human Capital Institute (HCI)
HCI is the global association for strategic talent management and new economy leadership, and a clearinghouse for best practices and new ideas. Our network of expert practitioners, Fortune 1000 and Global 2000 corporations, government agencies, global consultants and business schools contribute a stream of constantly evolving information, the best of which is organized, analyzed and shared with members through HCI communities, research, education and events. For more information, please visit www.hci.org.
About PS CULTURE MATTERS
PS Culture Matters is a Management Consulting and Business Process Improvement Organization built around people culture and a business impact approach to Human Resources. We drive our customers to align and correlate their people metrics to business metrics by providing both technology and service solutions to better execute the activities your company is doing less efficiently today. By identifying problematic areas within your company culture, you can then take action against your weaknesses. For more information, please visit www.psculturematters.com.