The Benefits of a Business Transformation

I can't change the direction of the wind, but I can adjust my sails to always reach my destination.—Jimmy Dean

In a world where the future is unpredictable and the past cannot be used to explain the future, companies either transform or stall. With globalisation at a tipping point, shifting technology and ideas, a slowdown in western economies and the emergence of developing countries in the global business landscape, the times are perplexing. Multiple buoyant drivers are making the business environment highly complex.

All these drivers have made transformation cardinal for survival. And organisations understand the criticality of the situation. Out of more than 900 participants surveyed for a Forbes Insights report, 93% of respondents agreed that they have completed, planned or are in the midst of a business transformation.

One superlative approach to get transformational outcomes is transforming the workplace culture. As an enabler of change, culture has usually been underleveraged and is not considered much of a priority. Traditional change facilitators such as - organisational design, management systems and metrics, top-level diagnostics, are prudent, but priorities should be readdressed.

Culture can be leveraged to encourage employees to be steadfast and risk-averse. In a survey conducted by Deloitte University Press, 88% of respondents considered culture important and over 50% of companies were attempting to alter their culture towards best practices. Yet fewer than 12% of companies believe that they truly understand their culture. It is ultimately an organisation’s legacy. It is possible to draw on the positives that culture has to offer while offsetting the negatives as the organisation progresses.

A healthy culture-led transformation needs proper ingredients which may include cultural diagnostic, capitalising employee commitment, setting clear objectives, employing a peer network, monitoring the cultural evolution and making the employees a part of the transformation.

Now, where is the change seen and how does cultural transformation alter the company’s performance?

• A high-performance culture boosts the motivation level of employees and leads to increased productivity.
• Culture-led transformations ensure that employees are aligned to the organisational values and mission. Once employees feel that they are a part of a cause, they give their best for the cause. This directly impacts revenue.
• A positive culture reflects on the customer service of an organisation. Happy and committed employees are highly likely to adapt to customer needs.

Are you planning a business transformation? Keep it culture-centric!