Corporate Culture Matters, a lot! And now you can measure it.
According to Harvard Business Review, the benefits of a strong corporate culture are both intuitive and supported by social science. And according to James L. Heskett, culture “can account for 20–30% of the differential in corporate performance when compared with ‘culturally unremarkable’ competitors.”
The same HBR magazine has identified 6 key elements that help building a differentiated culture and a lasting organization.
1. Vision & Mission: A great culture starts with a vision and a mission statement.
- A Mission Statement defines the company’s business, its objectives and its approach to reach those objectives.
- A Vision Statement describes the desired future position and deep purpose of the company. The purpose, in turn, orients every decision employees make.
2. Values: Company’s values are the core of its culture. While a vision articulates a company’s purpose, values offer a set of guidelines on the behaviors and mindsets needed to achieve that vision. More recently MIT and Glassdoor have partnered and identified 9 core values that would make a company great. They are:
- Agility: Employees can respond quickly and effectively to changes in the marketplace and seize new opportunities.
