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Does culture influence performance?
What if we told you that culture does not only determine the atmosphere in your office but also your ability to perform?
We worked with two clients who had similar questions. One was a technology firm who had two teams operating in the same region but producing radically different performances. The other was an F&B franchise who realised that some of their outlets constantly outperformed others, and wanted to understand why.
Both clients were interested to see if HR analytics could provide any insights. With our cultural diagnostic tool, TeamSight, we are able to determine what the employees of a firm prioritise, and this is done across 4 pillars: people and culture, salary and advancement, employer reputation, role characteristics. This information provides us with insights about what drives performance.
Case 1: Technology Firm
Our first client was puzzled as to why the sales results of their two teams were so different, with Team A performing at a much higher level than Team B.
Utilising TeamSight, we discovered the key differences between the two teams.
Team A placed great emphasis on meritocracy, where employees are rewarded for producing results. Team A also prioritised the opportunity to learn and grow, in order to build a good reference for their future career. Lastly, those from Team A embraced an entrepreneurial attitude, and were not averse to taking risks.
On the other hand, Team B was more focused on team building, collaboration and creating a respectful and friendly environment. Employees in Team B prioritised pay, with particular focus on a competitive basic salary and overtime pay. Additionally, Team B placed great emphasis on ethical standards, or to be more specific, a “perfectionist” culture, where they want to do everything right and ensure that their product has no flaws. Lastly, employees in Team B were interested in flexible working schedules.
We can see that each team has its own distinct culture, shaped by their team manager, hiring manager and employees. This has led to each team having their own distinct values and priorities.
If we compare the two teams, we can see that Team A placed greater emphasis on performance, where they want to be rewarded, build a good career reference, and grow the company rapidly. Whereas for Team B, the priority seems to be on a higher quality of life and work life balance, as they seem to have emphasised team building, competitive salaries, and a flexible working schedule.
Hence, with this insight, the firm realised that if they want to increase the performance (in terms of revenue) of the company, they need to hire people who are entrepreneurial and performance-driven. A year later, Team B is doing much better than before.
Case 2: F&B Company
The other client was an F&B franchise operator in Singapore. They were perplexed by the fact that several outlets consistently outperformed their peers and were curious to see if this would show up in their TeamSight results.
We analysed 3 of their outlets and compared their culture profiles. Outlet A was the one that outperformed Outlets B and C, but they did not let us know about this in advance to avoid biasing the results.
We discovered that outlets B and C shared very similar profiles, with a high correlation score of 74%. However, they only had correlation scores of 50% and 53% when compared to the high performing Outlet A.
As we delved deeper into the findings, we realised that employees in Outlet A had very different priorities when compared to the other two outlets. They were more concerned about:
- High future earnings
- Clear path for career advancement
- Leadership opportunities
On the contrary, employees in Outlet B and Outlet C had similar focuses, which were:
- Competitive base salaries
- Benefits
- Bonuses
In this particular case, we can see that the team at Outlet A placed more emphasis on future opportunities rather than current compensation, which seems to correlate with better work attitudes and performance (measured by customer satisfaction and revenue).
Hence this shows the importance of hiring right and building a strong team. Even in industries as different as F&B and technology , being able to hire the right people to suit the work environment and team culture can make a material difference to a company’s financial performance. And especially in a high turnover industry like F&B, a hiring manager that embodies the right attitudes and hires the right people can make a very big difference.
TeamSight
With TeamSight, we can help your firm attract the right people, retain your top talents and drive performance.
As can be seen from the case studies above, TeamSight can identify what a firm’s best performers have in common, and what differentiates them from the rest of the team. This information would allow firms to grow their teams based on these findings, where they hire for and promote these specific qualities and enshrine them in their team culture.
Secondly, we are also able to find out what motivates your candidates or employees. This is essential for boosting productivity, given that workers in Singapore are amongst the most disengaged in Asia, according to a study by Aon.
Lastly, by knowing what your employees value, it can also improve talent retention. Research done by the US Department of Labour has shown that an average worker changes jobs an average of 12 times during their career. A high turnover rate creates strain for any firm. Firstly, it is cost inefficient. According to the Center for American Progress, the cost to replace a single employee would be around 20% of that employee’s annual salary. Secondly, when employees leave, you lose their institutional knowledge, and it takes time and effort for your new employee to get used to the company processes. Training these new employees would also take up valuable resources. Hence, by knowing what your employees value, you increase your chances of retaining your top talents, which would increase your bottom line.
With TeamSight, you would be able to better understand the motivations of your team, and how you can harness it to drive business results.
HR analytics allows us to move beyond gut feel and intuition to make data-driven decisions about our team. It is becoming increasingly central to the people strategies of top-performing companies. Can you afford to be left behind?
Want to get insights on your team's culture?
Click on this button to find out how you can do that with TalentKraft’s TeamSight.
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