Chief executive officers (CEOs) are responsible for managing a company’s organizational structure and strategy and setting corporate policy. This offers a wide scope to overhaul workplace culture. Creating a ‘winning’ culture that is positive and thriving can do wonders for the workforce and the wider business. Employees will be happier, more engaged and perform better and it will generally make the company a more attractive prospect for new talent. Everybody wins, but why is it so difficult to get right?
Poor or toxic company culture can lead to a lack of trust, burnout, and a high turnover of staff, while even a robust but uninspiring one can make it difficult for everyone from the top down to fulfil their potential. According to the Harvard Business Review, this can be a result of factors including:
- Inadequate investment in workers.
- Lack of accountability.
- Poor behavior.
- High-pressure environments with unrealistic deadlines.
- Unclear ethical standards.
Indecision and a dearth of clear policies and leadership can make it incredibly difficult to create a positive culture. That’s why CEOs need to build from the company’s values to create a set of guiding principles that can address these factors and nurture a ‘winning’ culture on a day-by-day basis.
Patrick James of Trico Group is an example of a CEO who has instilled an excellent corporate culture to the benefit of his global automotive parts company. This culture has allowed the best-in-class technology and engineering capabilities of Trico Group to really shine. You can do the same.
Create a targeted short-term goal
Going back to your mission statement and tweaking it to ensure it sets the right direction and inspires employees is a good place to start. From here, you can then set clear, short-term goals and objectives which every department can follow and measure their progress against. Try not to be too broad or overly ambitious here. They should be ‘clear and present’ goals for the current financial year. You can define these goals by asking yourself, what would success look like, and how can everyone contribute?
Instill value, respect, and appreciation
Bad behavior can manifest when an employee doesn’t feel valued or respected in a role. CEOs can change this by creating specific growth paths for each employee based on goals, so they know exactly what they need to do and how their skill set is critical. Experts recommend holding one-on-one in-person meetings at least once a month. This is a time when employees can provide feedback and you can show that you care by listening and outlining plans for personal development. Strong leadership here boosts employee morale and makes the wider group happier and more content.
Prioritize team building
Employees want individual goals, but they also want to feel like they are a part of a team and can make use of their social and soft skills effectively. This can do wonders for motivation and happiness in the workplace.
There can be a tendency to ‘go big’ with team building, prioritizing big days out once or twice a year. Experts instead believe ‘going frequent’ is better. CEOs that delegate and allow leaders to manage smaller team building exercises each week or every other week will benefit from greater bonding and help to create tighter-knit groups which can then perform better at work.
Focus on creating mutual accountability
Workplace culture flows from the decisions and relationships made and forged between executives such as chief financial officers (CFOs) and chief information officers (CIOs). Battles between executives and disenchantment can filter down to departments which makes it very difficult to keep a company culture on track. One way to mitigate the risk of fallouts is to create an environment of mutual accountability.
As a CEO, you should try to hold a monthly group review with executives where everyone can talk about budgets and goals and how they are progressing in terms of achieving key goals. This creates a sense that everyone is involved, and that each important decision maker has shared accountability. It will also allow each department to better determine what they must do to succeed and drive profitability. When everyone is on the same page, each department can ensure they are working towards the same goal.
‘Live’ core values as CEO
Finally, CEOs should also set the tone for company culture by practicing what they preach. This means total transparency, ‘living’ the company’s values every day and being present and ready to make changes to benefit workers and push the company to excellence. Your leadership skills and expertise can make a difference every day and influence everyone. Creating a ‘winning’ culture isn’t easy, but you can start building one, brick by brick, by adhering to the right principles and nurturing a happy, engaged, and motivated workforce. The benefits are vast and plentiful, and it could mark the turning point for your company’s fortunes.
