Turning the Tide on a Toxic Workplace
Did you know that toxic corporate culture is 10x more powerful than compensation in predicting a company’s attrition rate? Last month, another 4.5M workers left their jobs, while job openings rose to a record 11.5M. Executive leaders are concerned with employee turnover and are admittedly losing their most talented workers. While many assume that salary and compensation are the leading cause of quitting, a recent survey conducted by MIT Sloan Management Review and Glassdoor reveals some shocking truths about the factors that cause employees to leave. And it’s not because of money, which actually ranks 16th on the list of reasons people quit. The authors of this survey, which included 500 companies, pin the primary reason on toxic culture.
Several behaviors, such as fear-based leadership, lack of recognition, subversive communications, unhealthy competition, and employee-favoritism, have a major impact on company culture. Truth is, people don’t leave bad companies; they leave bad leaders. Even the best CEOs sometimes underestimate the role their leadership team has in crafting a people-focused culture that inspires and motivates their employees to produce results.
When assessing and transforming company culture, you must commit to the 5 C’s of Culture which are:
- Capability Culture (“Can Do”) – leaders must instill values, character, and beliefs that exude a “can do” spirit among employees, showing them what it takes to succeed. In a hybrid workplace lines of communication must meet every individual “where they are” and be available to consistently support that team member.
- Commitment Culture (“Will Do”) – leaders must develop a unique culture that motivates and inspires others, instilling the belief that each employee has the power to take risks and add value. Empowerment grows as the individual visualizes their individual role in the mission.
- Connectedness Culture (“Must Do”) – using both cooperation and consensus-building elements, leaders must foster a culture based on teamwork and collaboration, allowing employees to execute at a high level. Here, the intelligent leader touches heart, mind and soul to create a resilient bond among the team in the pursuit of operational targets.
- Individual Performance Culture – leaders must foster an environment that’s transparent, open, and equitable – where honest feedback is not only welcome, but encourages continual improvement. “Walking the walk” ensures mutual trust and respect, critical elements of any meaningful organization.
- Team Performance Culture – leaders must create equitable cultures, where every employee’s contribution adds to the collective success of the organization; conflict may arise, but relationships you’ve forged during the journey allow for constructive debate and an open-minded approach to a win/win situation.
It’s estimated that three-quarters of all organizations miss the mark on getting corporate culture right, which leads to toxic workplaces. Great companies invest in their people and foster cultures that empower their team to deliver results, which is why 80% of a leader’s time should be dedicated to growing tomorrow’s leaders. Through our cultural transformation process, ILEC can help make your culture healthier – and your leaders stronger – resulting in an organization that attracts top talent.
In assessing and transforming company cultures, ILEC works with organizations of all sizes – from Fortune 1000 organizations to small to mid-sized global entrepreneurial companies. Our master certified ILEC coaches utilize a proven blueprint and philosophy designed to build strong, vibrant organizations. If your company is serious about creating a culture that creates loyalty, trust and optimizes performance, let’s have a conversation about what’s possible!