From the course: Organizational Culture
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Components of organizational culture
From the course: Organizational Culture
Components of organizational culture
- We've defined culture. We've talked about why it's important and a value to organizations. Now, to fully demystify culture, we need to break down the different pieces that combine to create the backbone of every organization. Culture has seven unique components to consider. First, the people. Companies with powerful cultures acknowledge that people are their greatest asset. They know that having successful products and services is only possible because of the employees who make that happen. So they hire the right people and treat them well, which creates a positive and empowering culture and that pays off. In fact, one study found that new hires on average are willing to accept 7% lower salaries to work in a desirable corporate culture. And when companies staff up with people who fit that culture, turnover drops by 30%. The right people make it happen. Second, the vision. How do the employees relate to the…
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