This is the main theme of our new book, Winning with a Culture of Recognition, which I co-authored with Globoforce President & CEO Eric Mosley. Here’s just a taste of our approach to company culture:
“Organizational culture is the most powerful force in business, and yet it is one of the most neglected (and misunderstood) attributes of any organization. Every organization has a culture, whether it is the culture the leadership wants or the one that has come to exist through inertia and management neglect. Businesses are societies, and society and culture are inseparable.
“Understanding your company’s culture and shaping it deliberately, based on your values, is critical to achieving your strategic objectives. It is critical to gaining competitive advantage. … Applied correctly, culture management through recognition is one of the most powerful, effective and, most critically, positive ways to drive the success of your organization as measured by improvements in operating margins, income, and customer satisfaction.
“This book serves as a guide for business leaders to harness the power of that culture to achieve the company mission. Think of the hallmarks of your culture—your company values. These statements of desired behaviors and actions suggest and—when followed properly—reinforce your culture.”
And this is even more vital to understand as we work to recover from the recession. As I said in a recent article in EmployeeBenefit News:
“Employees are experiencing fear and uncertainty. For many, the economic crisis has been a shock to their systems. For this reason, companies need to move away from a transactional contract with employees - that is, simply relying on salary and bonuses to communicate a job well done - to creating a psychological contract to rebuild confidence and trust. … Employers can accomplish this with employee recognition programs, which entail year-long feedback and encouragement, and foster a general positive atmosphere.
"A great recognition program is one that's built to reinforce what the company wants to achieve in the marketplace, to reinforce their values and reinforce their strategy. … A great recognition program becomes a continuous reinforcer of a positive, forward-thinking culture of the company; the employees themselves reinforce that culture."
Pre-order your copy of Winning with a Culture of Recognition today to learn more about how you can proactively manage your company culture to rebuild that psychological contract with your employees.