Expert tips on management communications and the power of storytelling
Around 40 percent of the technology and engineering workers polled by Dice.com believe they can increase their pay levels this year by changing employers. Even though tech workers are still in high demand, wages have remained stagnant in the sluggish economy. As a result, they're "looking for more," says Tom Silver, a senior vice president at Dice.com, a career website for technology and engineering professionals. He predicts that turnover will increase before year end.
Because many businesses are focused on maintaining a healthy bottom line in the challenging marketplace, they may be overlooking the potentially significant costs of higher turnover. Leaders who look ahead are already strategizing about how they can retain their best tech and engineering professionals.
How about your company? What are you doing to ensure that you hang onto the people who are most valuable? What story are you telling to remind them why they're better off to stay put?
Ranked for several years as one of
Fortune's "Top 100 Companies to Work For" globally, NETAPP is a company that understands the importance of creating a corporate culture. As reported recently in Business Times Singapore recently, the company says its culture centers on a positive work environment with opportunities for growth for everyone who works there, including the leadership.
The five values that differentiate NETAPP from other organizations are:
- attitude is contagious, i.e., a positive outlook generates good energy
- candor is encouraged so that honesty is maintained
- a positive approach attracts followers, e.g. recognizing individual successes within the company is more important than focusing on competitors
- leaders should appreciate employees' work and inspire them rather than simply manage operations
- openness to change is essential in today's ever-changing, innovative world
If an organization wants to change its culture, Peter Bregman says in his blog post for
Harvard Business Review, "you have to change its stories." In "A Good Way to Change a Corporate Culture," Bregman discusses several key steps, starting with facing the truths you may not like and taking steps to change the reality.
Besides changing the stories, an organization can change a culture by inviting everyone's input to craft a new values statement; I'm presuming Bregman's implying that the core values should be re-examinied and perhaps changed. Then, the core values should be illustrated with stories that describe how the values are being enacted; this will cement them as the operational values for the organization.
A change in culture often is required when companies merge. Any major differences in the way they operate and any dissonance in core values will be stumbling blocks in successfully building a stronger company--and the differences, if not addressed, may even be fatal.
Why should a company focus on the culture? The fact is, the success of an organization--as well as each of the individuals in it--depends largely on whether the culture is a good fit for everyone, including the CEO. If the leader doesn't embrace the existing values or doesn't feel comfortable with the existing way of doing business, the chances for success are greatly diminshed.That explains in part why a new leader brought in from another company sometimes leaves after a very short tenure.
And yet, a discussion about the culture isn't necessarily a standard point of discussion when an organization recruits talent. What does your company do to ensure that prospective employees understand the culture of the organization? What do your leaders do to remind people of the operating values? How often do you share stories of people "caught doing things right?"