CULTURAL CAPITAL AND ITS VALUE TO AN ORGANISATION
If an organisation’s Purpose is its general direction of travel, then Culture governs everyday decision making in the business when the CEO is not in the room. Positive cultures are valuable because they create focus, enable innovation, productivity and cohesion and help attract and retain great people.
The next generation of talent; portfolio careerists, gig economy workers, freelancers and contractors – those who are arguably most attracted to a great culture are becoming the hardest to get traction with because of increasing remote and agile working practices. Communicating, managing and measuring culture effectively in this environment is the next wave of competitive advantage.
On 15 May we asked author and strategist John Grant, (Better – Wellbeeing and the human-friendly business, Unbound, March 2018), to lead a discussion on Cultural Capital* which we defined as the value of culture to an organisation. He was joined by Yvonne Smyth, Group Head of Diversity & Inclusion at Hays plc, whose annual survey of 14,000 people ‘What Workers Want’ reveals how many people value culture more highly than remuneration. Dineshi Ramesh, Director, Board Intelligence Academy provided insights on how Boards struggle with the issue of culture when it comes to how it is reported, and Kevin May, founder of Seattle based consultancy Sticks LLC, contributed insights from his research into ‘The Office of the Future’ which examines the role of the physical environment on culture.
Watch some of their insights here.
* (with a little nod to Bordieu),