Get Ready for the Upswing: Manage Your Values-Driven Culture

If you heard Warren Buffett on the news this morning, he said we’re out of the quicksand; but we’re a little bruised from ropes that were needed to pull us out.
Point is: there are positive signs this economic crisis won’t last forever. There will be a sustained business upswing—there always has been and likely always will be. We don't know when it will turn around but my advice is not to wait too long. Get prepared now.

It’s long been known that if you manage your culture effectively, it will have a positive impact on your bottom line. (Do a Google search for corporate culture and performance.) Consider these research findings:

· Almost one-half of earnings are attributable to how much employees “buy into” the company’s corporate culture.

· Companies that manage their culture have revenue increases of 682% vs. 166% for those who don’t.

· Stock prices for companies that manage their cultures increase by 901% vs. 74% for those who don’t; net income increases compare 756% vs. 1%; and ROI increases twice as much.

· In another generally poor economic climate (1972-92) five top-performing companies were those that managed the culture of their workforces well.

It's easy to lose focus under the stress and pressure of tough times. Here are five ways to manage your culture now.

1. When in survival mode, it’s easy lose sight of your market focus, your core values, and who you are. Now is the time to reestablish your company’s critical uniqueness.

2. Conflict and stress rear their ugly heads when business pressures increase. Rumor mongering, passive aggressive behavior, open interpersonal conflict, and other ill effects undermine team cohesion. Now is the time to root out dysfunctional behaviors and reward values-based expected actions.

3. Tough times increase self-interest vs. team collaboration. Now is the time to revitalize your team, clarify company ground rules for behavior, and do everything you can to keep your best people.

4. When threatened (and these are threatening times) people circle the wagons, horde information, and stop sharing openly. Now is the time to promote trust and facilitate healthy communication.

5. Fear diminishes creativity and the organization becomes risk-averse. Now is the time to revitalize innovation, stress adapting to change and encourage creativity without the fear of failure.

Prepare now so you can reap all of the bottom-line benefits of a well-managed culture with a positively aligned workforce.