My view is that culture is generated and maintained from the pointy end of an org chart and based on sound and authentic values that are lived at every level of an organisation.
New Zealand is a country where we believe anything is possible – including the potential for each of us to form and build a company based on our ideas, skills and capability. In forging a new company, we create a living entity with its own flavour, personality and unique attributes…what we also call culture. Culture must be modelled from the top and allowed to flow throughout the organisation. This doesn’t always happen.
I have worked over the years with a lot of SME’s built by technical experts with a great idea. Whether the idea was a machine that shells peas or a piece of software that helps people manage investment properties; businesses are often built on the merits of the product or service by smart, technical people, passionate about what they’ve created.
Those same people with the million-dollar idea do not always possess the leadership attributes to build and maintain culture. High IQ and a single-minded focus to create a product or service doesn’t always lend itself to having the high EQ required to inspire and develop people.
The best of these entrepreneurs recognise their leadership gaps and hire great people around them to achieve cultural goals. Many, however, are more bullish and believe their people should simply be as passionate as they are about the product or service they created. However, you can’t expect the people within a business to model values that the business owner, CEO or MD isn’t able to demonstrate themself.
In today’s competitive business landscape, it’s more important than ever to get the right cultural and values fit when hiring executives. Recent research has shown that having the right values is more important than having specific skills or qualifications for long-term success.
The Harvard Business Review found that companies with strong cultures may outperform their competitors by as much as 125%. The study also found that companies with weak cultures are more likely to underperform their competitors by 75%.
So, what does this mean for hiring executives? It means that you should focus on finding people who share your company’s values, even if they don’t have all the specific skills or qualifications you’re looking for. Many Boards focus on fiscal experience over cultural competence. Whilst you should never neglect core competencies, it is essential to achieve cultural alignment.
Here are a few tips for hiring executives who share your company’s values:
- Start by defining your values – What are the most important things to you as a company? What do you believe in? Once you have a clear understanding of your values, you can start looking for leaders who share them.
- Ask questions about values during the interview process – This could include questions about their past experience, their goals, and their experiences changing or improving company culture. You might also consider asking them to describe a time when they had to make a decision that potentially went against their values.
- Do your research – Look for people who have a history of living their values. This could include looking at their LinkedIn profiles, their volunteer work and their past work experience.
As well as supporting search and selection services, the team at Bishop are well versed in helping our clients develop and refine their ‘secret sauce’, the values and attributes that can really influence team engagement.
It is worth bearing in mind that:
- Values are more difficult to change than skills – Once someone has developed a set of values, it is very difficult for them to change those values. This means that if you hire someone who shares your company’s values, you can be more confident that they will continue to share those values in the future.
- Values help to create a strong company culture – A strong company culture is one that is based on shared values. When employees share the same values, they are more likely to be aligned and work together towards common goals. Values can help to attract and retain top talent.
- Employees are more likely to want to work for a company that shares their values – This means that if you hire executives who share your company’s values, you will be more likely to attract and retain top talent. So at very least a smart business owner should be able to talk about their values and what makes the company a great place to work.
The Bishop values hinge around Collaboration, Quality and Kindness. Each member of the team can speak to what that means to them.