One study demonstrated 50 percent less staff turnover, 10 to 30 percent higher customer satisfaction ratings, 40 percent higher employee commitment ratings and double the net profits.
The management is responsible for the communication of company mission and values to the employees. By the banking firm, I am currently working with, workshops are undertaken to orientate the new employees on the mission and values treasured by the firm. Also, the assigning of roles is by individual expertise is done. The firm has also empowered different departments to nurture values that are in line with the company’s objective to help achieve the company’s main goal of making profits and maintaining its competitive edge.
Organizations that seek further development in its core competencies and total output must turn their attention towards this growing trend of High Performance working system.
Rosenthal, J. & Masarech, M. A. (2003). High performance cultures: How values can drive business results. Journal of Organizational Excellence, 22: 3-18.
Schein, E. (2010). Organizational culture and leadership. Washington: John Wiley and Sons.