Aligning Your Company's Culture with Strategy & Purpose
Over the course of the past five years, we’ve seen significant shifts in the corporate world. These shifts have left many leaders wondering about the best path forward in the midst of continued uncertainty. While there is definitely no ONE right answer, we can tell you that executive leaders who align their company’s culture with strategy and purpose come out ahead no matter the challenge. Today we’re going to unpack what that means and why it matters.
“Strategy” - It’s More Than a Corporate Buzzword
Strategy isn’t just a corporate “buzzword”. It is an opportunity to shape the vision of why things matter. People want to know that the work they do matters - and to understand how their day to day work impacts the bigger picture. In order to ensure that this vision is effective and well-integrated, it needs to be balanced equally with culture and purpose. A recent HBR article highlighted the importance of this “purpose-strategy-culture triangle”.
The author, former Best Buy CEO and chairman Hubert Joly points out that:
“...a tight connection between purpose, strategy, and culture is critically important, because culture plays such a powerful role in making purpose and strategy come to life. I also believe that, as leaders, we can shape our companies’ cultures faster and more profoundly than generally thought.”
All three of these concepts must work together, and leaders play a critical role in defining company culture. We agree with Joly that if these three elements are in alignment, companies can weather the economic, market or geo challenges they may be facing.
Culture & Your Team
We give a lot to our jobs: our time, our energy, our creativity. And our work must be more than just getting things done - it should be about adding value and being a part of something bigger. That “something bigger” starts with culture.
All three of these elements [culture, strategy and purpose] are within the leader’s control: each of us has the opportunity to define and embody these elements with our team members. We hear all about “quiet quitting” and - on the heels of “the great resignation” - companies MUST look for ways to retain their best and brightest. For managers to really have an impact, we propose the following three actions:
Empower your leaders: It’s tough to let go - we get it! But as you get more senior in your career, the ability to work with and through others versus doing it all yourself becomes a game-changer. Teach, guide, support others: that’s your role as a senior leader.
Build a foundation of relationships: If we’ve learned anything in the last few years, it’s that relationships matter. Building your personal and professional network allows you to navigate tough times more easily, and can provide a sounding board for new ideas and inspiration.
Engage authentically: Be willing to show a little vulnerability in the workplace. Leaders who share a bit of themselves build trust. We’ve written recently about the importance of authentic leadership and emotional intelligence in the workplace: it’s a topic we’re passionate about.
These three steps are a fantastic way to begin to shift your team’s culture towards the desired strategy and purpose. To quote a recent McKinsey & Company article,
“Company purpose is important. It addresses the fundamental question of ‘why’—a question that employees now expect their leaders to satisfy with regards to the workplace too.”
Reinforce Values with Action
Does your team truly know how much they matter? They ARE your company’s culture. As managers, it’s essential to recognize that every individual has their own set of values which drives their sense of purpose. One of the tools we often use in our executive coaching engagements is the Hogan MVPI assessment. As the Hogan report tells us,
“Values are an essential part of your identity—they describe who you are, what you stand for, and the environments in which you will flourish. Values powerfully shape the choices that you will make about work, play, and relationships; they will impact your career…”
Values are in play in every interaction we have with others, whether we consciously recognize this or not. To take this a step further, ask how you can make sure there’s a connection between individual values and company culture. Taking the time to truly understand and make the connection between your team members' individual and collective values to the company purpose and strategy can make all the difference.
In order to ensure these values show up in your company’s culture, it has to start with you. People pay more attention to what you DO than what you say - so your actions must align with your stated purpose as a role model. Let your actions say more about your values than your words.
What if Purpose and Values Aren’t Aligned?
As coaches, we often see leaders making choices about their work, and how they “show up” in the corporate arena. Sometimes leaders may have to consider making a change in themselves to align with an organization’s culture and purpose. This could be a behavior change, or a mindset shift, or even aligning with a different set of values.
Sometimes this is a good thing: one leader we worked with moved from a very individualistic, merit-driven, zero sum game mentality company to a company with a more collaborative working style. It was a rough start! Fortunately, this leader quickly received feedback about his behavior: what was acceptable in his former company was not well-received in the new environment. He changed his approach with people, opened up lines of communication, and became a much more transparent leader. He thrived and his team excelled.
Another client, a highly successful attorney, had a realization that he was working in an industry that was no longer aligned with his personal values. With guided assessment and reflection, it became obvious that working in a more purpose-driven organization was a priority for him. With courage and support, this leader left his firm. He’s now in an entirely different industry, working in a role where the company’s culture and purpose are completely aligned to his own. He’s found increased engagement, happiness, energy and tremendous success now that he is aligned with a purpose and a culture that deeply resonates with his values.
Strategy - Purpose - Culture: three critical and inter-related facets that leaders can leverage to create an environment where people are motivated, engaged and aligned: and that will absolutely have a positive business impact.
It’s Lonely at the Top
Because we served on the leadership teams of multi-billion-dollar businesses, we understand the challenge that is leadership. We’ve lived and led through hyper-growth and through periods of instability and uncertainty – and we bring these lessons to clients. We can quickly assess the culture of an organization and understand what it takes for leaders to be successful. We know what it takes to lead with impact, and we know the triggers that can derail performance. Want to increase your impact? Let’s connect today!