Most companies round the world, at least theoretically show their desire to build an innovative culture at the workplace. Such work cultures are depicted as fun- loving, yet this depiction is only half the story. Such organizations have some brutal truths. To start off, such companies do have a tolerance for failures, but none for incompetence. They experiment a lot, in order to bring business innovations to fruition, yet their processes are highly disciplined. Such companies project a culture of psychological safety, but follow a demonstrably candid way of communicating with people. These teams endorse collaboration, but that does not take away the individual accountability. Such organizations are also known for their talent management structures, which is why they then to have a flat hierarchy. Yet, these firms also have a strong leadership at the centre. Incorporating all such cultural changes at one go, may not be possible for organizations that are trying to build an innovative set up. But small steps at a time can eventually lead to the desired objective.

Source:https://hbr.org/2019/01/the-hard-truth-about-innovative-cultures

Uploaded Date:22 January 2019

There are times when the employees in a company, especially at tech firms, influence the ethics there. Google and Microsoft employees recently made their employers go back on some initiatives, the employees deemed weren’t adhering to their set of values. Engineers and skills developers have been known to place value on aspects of work beyond merely monetary compensation. This is a crucial aspect tech firms need to understand to improve their talent recruitment and retention levels. Younger employees from the millennial generation, in particular are known for their preference towards companies adhering to their set of ethics. Social media also plays a strong role now, as employees can gang up together to voice their views and concerns. The governance paradigms also influence the employer- employee relationship.

Source:http://knowledge.wharton.upenn.edu/article/can-tech-employees-change-the-ethics-of-their-firms/

Uploaded Date:07 January 2019

The Brainstorm Reinvent conference was held in Chicago. This was jointly organized by Fortune and McKinsey. The key takeaway that emerged from this summit, was that culture is the most important aspect for successful organizational reinvention. Instead of merely adding more fuel to the existing tools, newer methods need to be adopted. The analogy between sailing ships and steam- powered ones was given. The usually understood competition between industry incumbents and digital natives is also misunderstood. Rather they depend on each other. To cite an example, 153- year old company Cargill is making use of the services of the much smaller newbie Descartes Lab for its business analytics requirements. Technology and innovation are also important, but culture most so for this transformation sought.

Source:https://www.mckinsey.com/about-us/new-at-mckinsey-blog/want-to-reinvent-your-business-start-with-culture?cid=other-eml-alt-mip-mck-oth-1810&hlkid=04afdb9a525a418c8a8168e24de6ac2c&hctky=9953462&hdpid=87b6d6d0-358a-4aa7-bf72-42b82d74b349

Uploaded Date:07 January 2019

It is now widely recognized that the company culture is often the biggest motivating factor for employees in any company. In a study conducted by management consulting giant PwC what emerged is that nearly three- fourths of C- Suite executives believe in culture as a motivating factor, but it drops down to less than half for the non- managerial cadre. In order to close this gap, team leaders must begin with establishing cultural goals on what can realistically be achieved. A sense of emotional energy needs to be curated within the firm to bridge this gap. Whatever behaviours are to be expected out of the employees, need to be replicated by the leaders themselves. This culture must be made viral using Authentic Informal Leaders (AILs). All these aspects have been discussed in a forthcoming book titled The Critical Few: Energize your Company’s Culture by Choosing what Really Matters.

Source:https://www.strategy-business.com/article/Closing-the-Culture-Gap?gko=f1b58

Uploaded Date:07 January 2019