If culture eats strategy for breakfast, why do some organizations continue to respond to labor shortages and economic contractions with salary increases, staff reductions and other snack-sized, often short-sighted actions?
This is a time-sensitive question for board members and C-suite leaders to ask themselves as they scale back capital expenditures and consider cost optimization steps and operating expense reductions in response to economic uncertainties.
Leaders need to take a fresh look at the long-term value that high-performing organizational cultures generate.
- A first-rate culture diminishes workforce backlash to cost-reduction measures.
- Corporate leaders can expect to outlast near-term economic gyrations.
- Strong organizational cultures also play a pivotal role in helping companies accelerate out of economic downturns faster than their competitors, which should make culture-building a priority.
Actions with workforce implications need to be executed in ways that reflect the organizational culture and build trust while also supporting business objectives that align with shared values. This is the path to building an organizational culture that will create long-term competitive advantage.
Check out these KLplus CPE courses related to culture:
- How Culture Impacts Communication (KLplus CPE Course): In this course, you'll learn about the importance of achieving a proper mindset for cross-cultural communication.
- Making the Most of an Organizational Change (KLplus CPE Course): In this course, you will learn the essential skills needed to handle organizational change and the steps to develop a change action plan.
- Creating a Plan for Performance Management (KLplus CPE Course): In this course, you'll learn about the factors involved in successful performance management.
- Managing Employee Development (KLplus CPE Course): In this course, you'll learn about the benefits of developing employees and assessing how their development needs can be addressed through organizational learning.