Continuing Focus on Culture and Performance
14/07/2018 2:10 PM
Professionally it makes sense to take time out from busy schedules to share thoughts and ideas with colleagues and thought leaders. Recently I spent a few days in Sydney at the Governance Institute of Australia’s National Conference. Mention was made at the reception welcome that each of us in our own way can contribute to the “rising tide which will then lift all boats”. What a great thought this is both at year end and to lead off in the new year.
Sometimes it is easy to feel that professionally you are flying solo. It is great to speak and share our thoughts, challenges, and directions with colleagues. This often can place what happens in our workplaces in a new context or clarifies our views.
Knowing we are a part of a collective makes us feel that our boat along with others can be lifted by our continuing efforts contributing to the sector in which we operate.
Some of the highlights of the Conference included Dr Mike Briers, Chief Executive and Founder of The Knowledge Economy Institute, who discussed the impact of big data and how the latest technologies are challenging conventional business models and more generally economics. Some real-life examples challenged everyone’s current assumptions, and left one to think more about the nature of change and the importance of keeping up with trends and market forces.
Another area was that of innovation in action. The questions posed is one that is relevant for each of us in our own ways. How do executives encourage and harness organisational cultural change? How can staff be committed to consistently challenge the status quo? Examples are not difficult to find such as Netflix, airbnb and Uber as change models that have turned an entire industry on its head and created disruption. The assumption is that all businesses, including Not-for-Profits, are all at risk of potentially be ‘out-competed’.
There were presentations from the various regulators including John Price a Commissioner with ASIC. He reinforced very strongly why ASIC is focused on culture. In addition, significant emphasis was placed on culture being a primary responsibility of companies, not the regulators, to initiate and oversee their organisations’ culture. Boards and senior executives ought to be clear about the enormous implications of poor culture as a driver of poor conduct, and therefore poor performance. Peter Wilson, Chairman, AHRI, followed and strongly made the point that data from around the world consistently showed that poor culture often leads to poor performance and that the reverse is true. Also there should not be any suggestion that culture cannot be measured or tracked. There exists metrics that companies can use to measure culture. Peter Wilson invited all organisations to undertake the measurement and management of culture as on all the evidence it delivers positive results.
Readers would most know of our interest and commitment in the important field of Culture. We do this through our Governance Intelligence® Culture Health Check. Our bringing this to market has meant that organisations will gain valuable and practical insights into the strength of their culture. In turn this enables them to identify where to focus their attention and gain immediate improvements. By having a concentrated focus ensures the achieved positive results can be sustained over a longer period.
Making this available for organisations to use is most timely. It means there is a ready tool that enables great support to Boards and executives who are committed to actively managing their organisation’s Culture and gaining positive performance outcomes.
If you would like more information, please contact Damien Smith on 03 8862 6315 or at email@example.com
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