Defining a business’s culture can be like a game of skee-ball. A true perfect shot takes time, effort and practice, but most folks are simply happy to get on the board. Culture seems to evade definition and evaluation, relative to more objective performance goals. You often see Type-A minded analysts and managers satisfied with generic overviews that target non-specific cultural descriptors.
Yet culture is key. Organizational culture drives performance metrics such as employee retention, productivity, growth and ultimately, profit. An effective company culture will engage and retain top talent, drive high-performance teamwork, develop leaders who will help shape culture, and fundamentally strengthen financial performance.
Finding Cultural Fit
Nailing down the traits that cause employees to perform is difficult, in part because culture is constantly changing. Culture is the combination of all the employees who are part of the business. It’s formed by traditions, beliefs, vision, practices, controls and environment. It includes the company’s mission, values and most importantly, how people actually act.
What parts of your company culture are most indicative of strong performance?
Which hinder you from reaching your goals?
Which are necessary to achieving your strategic objectives?
Surveying employees can be the first step to understanding existing company culture. It can provide an understanding based on actual beliefs and behaviors, rather than assumptions and meeting-room defines values. The subjectivity of defining these traits makes accurate surveying difficult. How are behaviors measured, traditions quantified, and personalities tested?
A simple opinion survey or engagement study cannot provide accurate, interpretable results. Rather, a scientifically validated cultural assessment tool should provide the reassurance of a tested and peer-reviewed algorithm that accurately analyzes the wealth and depth of information to reveal deeply rooted norms and values, drivers of behavior, and existing characteristics.
TalentAIM Provides Cultural Assessment Tools
True data-driven analysis has only recently come to the forefront. Created by data scientists specifically focusing on business, today there exist algorithms that have proven reliability and results. Commonplace improvements stemming from the use of cultural assessment tools can reach up to a 15% gain in productivity, and 12% reduction in employee turnover.
Personnel is often the highest cost a business incurs, and turnover is the greatest variable that drives that cost. Outside loss of productivity while a position is open, is also the high cost of finding, evaluating and training new hires. Studies have shown that costs of employee replacement can range from 50–200% of the position’s annual salary.
Utilizing a scientific cultural assessment tool is the first step in grasping whether, “Is what we say we are, truly what we are?” Ultimately, truly understanding a company’s culture, gaps between the current state and the desired culture can be accurately evaluated and addressed. Creating an enviable company culture is a unique differentiator that influences talent attraction, retention, motivation, and employee engagement.
How TalentAIM Works
TalentAIM used scientific surveys, algorithms and machine learning in creating their cultural assessment tool. By providing rapid, accurate analytics, it has proven to provide financial gains due to an increase of employee retention and engagement. Their tool combines service engagement coupled with a SaaS based tool that provides reliable analytics for any company culture.