‘An organization’s culture must evolve in the next five years for their company to succeed, grow, and retain the best people.’ That’s what 80% of people said in an eye-opening 2018 study from Deloitte. Culture no longer fits in the confines of token birthday cakes and team outings. Culture today is an integral part of corporate strategy and has been shapeshifting over the years to include multiple meanings.
So, what does culture mean exactly?
According to Richard Perrin, Partner, Head of Advisory, KPMG Moldova, “Organizational culture is the sum of values and rituals which serve as ‘glue’ to integrate the members of the organization.”
In today’s increasingly dynamic job market, this need to integrate members has become more urgent than ever. There has also been a tectonic change in how candidates, especially millennials, look for a job. In addition to the normal parameters of pay scales and benefits, job seekers today evaluate organizations for the best fit. While you may be looking for the people who best fit your company’s culture, they are trying to find whether your company is the best fit for them.
And how can you be that organization? The one that everyone would be excited to work for? In my 20 years of experience working in across multiple industries, I have seen that there are a host of factors that go into the making of a culturally strong organization. I am attempting to describe a few top of the list here.