Last week we hosted a private roundtable with some of the leading lights of the fintech world where we discussed the importance of culture in an organisation and the challenges of scaling culture during hypergrowth. A lively discussion ensued with the unwrapping of the pain points and some of the solves that have been deployed.
While the event was under Chatham House rules we’ve compiled five guiding principles from our discussion to guide those interested in the impact of culture as you scale for hypergrowth. They are:
Make culture really matter. The importance of culture to attracting talent is only where it starts. Leading businesses build advantage through culture and are explicit about its connection to business impact. Clarity about the role of culture in delivering strategy creates the imperative that drives performance.
Culture lives through actions not words. Don’t assume that the intangibles inherently understood by the founding team will be apparent to your expanding organisation. Translating purpose, vision, and values into experiences and actions builds understanding and supports adoption, enabling a culture to thrive.
Pass the culture baton. Role models and personal interactions shape norms and behaviours. Extending the impact of Founders and leadership by empowering leaders at every level creates the multiplier effect. Meanwhile, expressing the human truths – struggles and highlights – at the heart of any culture grounds it in a relatable foundation, cementing connections and commitment.
Everyone owns culture. From communications that inspire and celebrate culture, to the people practices connecting culture to actions, to the training that equips people to fulfil culture, to the technology that enables culture, to the leaders that uphold culture, to the operations and business practices that reflect culture – operationalising culture must leverage and align every aspect of an organisation.
Walk the walk and talk the talk. Positioning culture as core to a brand answers the growing imperative from customers, consumers and stakeholders to align values with purchasing decisions. Brands that become thought leaders regarding culture and talent not only benefit from elevated impact on their employer brand but leverage the advantage of culture for driving sales and reputation.
Culture can be tricky to codify, cultivate and influence, but getting it right can create a unique business advantage for any size of organisation. If you’d like to discuss how your employee engagement can help drive a positive culture email a member of our team.
Faith Howe, Talent & Transformation
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January 21, 2021