The significance of culture
A young fintech company with rapid expansion plans? Talk about the ideal client!
Due to the sensitive nature of this work, we’re keeping this company’s details under wraps, but trust us when we say, it’s a goody! The organisation was rapidly scaling up operations and were at a critical developmental stage, seeking investment and setting high targets for new hires. But while they were busy trying to achieve their strategic objectives, their culture was taking a huge hit.
They hadn’t defined their purpose or their values, they hadn’t identified the behaviours they needed to embody in order to deliver on their strategy and realise their vision, and they had failed to notice the toxic sub-cultures that had emerged as a result of their diverse workforce. The situation deteriorated further when the organisation's founder decided that she needed to shake up her leadership team and let go of the Head of People, who left, taking 35% of the team with her in the process.
After a turbulent few months, this passionate CEO needed to right the ship and give their culture the attention it deserved. That’s where WeLove9am stepped in.
Rapidly scaling a business can put a whole lot of pressure on the people involved, and it can be a pretty big risk waiting for the culture to establish itself in the pursuit of lofty growth ambitions – a consequence that’s seen the likes of Powa Technologies, once the UK’s hottest British unicorn, go bankrupt!
We knew it was time for our client to adopt a Cultural Change Strategy - one that would enable them to build a cohesive company culture and attract the right fit talent, resulting in an engaged workforce capable of tackling the challenges that lay ahead.
What we did
We bumped Cultural Change to the top of their list, using our four-phased Cultural Change framework...
Restore Leadership Team Cohesion:
We started at the top with the CEO and their executive team to restore cohesion. Using the five dysfunctions of a team assessment, we identified their behavioural strengths and weaknesses, and worked with them to overcome those problematic behaviours that were degrading performance.
Refresh Your Strategic Narrative:
We worked with the leadership team to align them around the vision, purpose and mission of the organisation. We established their values and associated behaviours. We helped them to identify their strategic priorities and decide which one of these they should rally around in order to accelerate the business in the short term. And we created clarity as to who was responsible for what, while surfacing their strategic anchors – those decision making filters that should be applied to every major decision the team had to make.
Relay Key Messages Internally:
We captured their vision, purpose, mission and values to create their strategic narrative, and translated this into compelling comms that would be used internally to drive engagement and align their people, so that they could actively work together to shape the future of the organisation.
Reinforce Your Narrative Externally:
And finally, we worked to support them to shape their talent systems and processes, reinforcing their strategic narrative across their employee lifecycle, from attraction and onboarding, through to performance management and reward and recognition.
Did it work?
The work we did sparked a critical shift in the cohesion of the leadership team. Team members embodied their values and behaviours, and their people followed suit. Through aligning their people around their vision, purpose and mission, employee engagement and retention increased to 87%, accelerating both productivity and performance, as well as the financial value of their business.
0%of employees say they feel aligned with the organisation's culture
0%increase in team member performance
0%reduction in employee turnover in the last six months
Effective cultural change...
...that accelerates productivity and performance.
Find out more about how we can help you.