In recent research conducted by Accenture, the following factors were given as the most important when it comes to the all-important task of building a corporate culture. These are given in rank order of importance.
- Behaviour modelled by management
- What leaders pay attention to, model and control
- Performance and promotion systems
- Criteria used for selection, retention and termination
- Leaders’ reactions to critical incidents and crises that threaten survival and test the values of the organization
- The organization’s formal and informal design and structure
- Systems, policies and procedures that determine how work is done
- Stories and legends about key people that are told throughout the organization
- Ceremonies (company celebrations, awards, rites of passage or advancement)
- Formal statements of philosophy, principles and values
There is a lot in this list that is very interesting, and the research is based on interviews with 65 companies.
I’d be willing to bet that all of those companies are based in developed countries, and that no more than one or two are run by people of colour. It leads me to think that the survey instruments they have devised are less than useful for Caribbean companies, and would need to be modified before use.
Read the complete report entitled “Creating a Corporate Culture that Drives Greater Financial Returns and High Performance”.