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There is a strong relationship between a business’ bottom line and workplace culture. Companies that prioritize their company culture can see a substantial 33% increase in revenue, highlighting the undeniable link.1
Human resources plays a vital role in making a business’ most important asset – its people – feel valued and supported, enabling them to deliver their best work. This is imperative for any enterprise undergoing major change. By creating a culture inclusive of well-being, companies can foster a more people-first environment while delivering on strategic business outcomes.
In this episode, our experts dive into why prioritizing people creates a more positive and supportive workplace culture and ultimately drive success for the business.
Short on time? Keep reading to find out what you will hear in this episode.
Featured experts:
- Matt Elliott, Chief People Officer, Bank of Ireland
- Maryjo Charbonnier, Chief Human Resources Officer, Kyndryl
Conversation highlights
Please note the transcript has been modified for clarity and length.
Tom Rourke (Host): Matt, when you are bringing change, what things are important to get people to buy into the importance of culture and whatever change is needed in that culture?
Matt Elliott: I think you've got to have a really clear sense of identity and direction, always. Otherwise, how can you go about achieving change? To me that goes back to we want to be a great place for customers to bank with, but what goes hand-in-hand with that is being a great place for the colleagues to be at work. And the two have really just aligned and integrated and become the same thing. (Hear the full response 04:50)
Tom Rourke: Maryjo, what are the challenges that come with hiring talent – not just with the right skills for the job – that contribute to workplace culture, especially across a footprint of 80-plus countries?
Maryjo Charbonnier: The framework we've used—and we've been pretty systematic about this—is looking at culture through the lens of behavior, systems and symbols. If I've learned anything in this job, is that your systems, whether it's your promotional systems, your finance, your human capital, both maybe the technology that supports them and the way you run them, can make changing the culture either wind behind your sails or make it like cement. They hold the culture so tightly; those systems just become the expression of new culture and new behavior. (Hear the full response 07:04)
Tom Rourke: Matt, what are the things you need to do as a leadership team to convey that you're serious and authentic about your culture?
Matt Elliott: Most important thing around evolving a culture, having sort of set the direction around what you want to achieve, is to listen. That's always been the case; I'm sure always will be. And then, understanding the impact that has on customers as well. Really just tapping into what's happening in our people's lives has been a key connection to being authentic about our interest in what's happening for our people, inside and outside of the organization. (Hear the full response 08:30)
1 Source: “Organizational Culture: What Leaders Need to Know” Gallup, 2023
