The Right Culture Why culture matters Wh lt tt What a great - PDF document

4/30/2014 Building the Right Culture for Your Organization Barbara Schmidt ‐ Kemp North Star Consultants LLC “Guiding organizations and leaders in the right direction” 1 The “Right” Culture • Why culture matters Wh lt tt • What a great culture looks like • How to build a great culture g • How to utilize important levers 2 1

4/30/2014 Who is here Today ‐ Your Perspective • How many of you work for a hospital? • How many of you work for a hospital? • How many of you work for a medical practice? • How many of you own your own business? • How many of you are in organizations trying to transform the culture? 3 Definition of Culture 5 a : the integrated pattern of human knowledge, belief, and behavior that depends upon the capacity for learning and transmitting knowledge to succeeding generations g g g g g b : the customary beliefs, social forms, and material traits of a racial, religious, or social group; also : the characteristic features of everyday existence (as diversions or a way of life} shared by people in a place or time <popular culture > <southern culture > c : the set of shared attitudes, values, goals, and practices that characterizes an institution or organization <a corporate culture focused on the bottom line> culture focused on the bottom line> d : the set of values, conventions, or social practices associated with a particular field, activity, or societal characteristic <studying the effect of computers on print culture > <changing the culture of materialism will take time — Peggy O'Mara> http://www.merriam ‐ webster.com/dictionary/culture 4 2

4/30/2014 The Impact of Culture on an Organization • Close your eyes and visualize the best company where you have worked • List the top three reasons you feel that way 5 Why Having the Right Culture Matters • Competitive Advantage • Attract and Retain the Best • Patient Satisfaction • Sustain and Grow the Business • Keep Your Supporters Engaged 6 3

4/30/2014 7 What is an Organizational Culture • Shared Mission Vision and Values • Shared Mission, Vision and Values • Shared Plans and Goals • The Right Leadership The Right Leadership 8 4

4/30/2014 Impact of Leadership on the Culture • “Tone at the Top” “T t th T ” • Different types of leaders for different cycles – Entrepreneur – Builder – Maintainer • Various leadership styles 9 10 5

4/30/2014 Leadership Quotes • Leadership is lifting a person’s vision to high sights the • Leadership is lifting a person s vision to high sights, the raising of a person’s performance to a higher standard, the building of a personality beyond its normal limitations. — Peter Drucker • Before you are a leader, success is all about growing yourself. When you become a leader, success is all about growing others. —Jack Welch 11 Examples of Corporate Culture • Entrepreneurial Culture p • Paternalistic Culture Paternalistic Culture – Risk based – Protects the people – High reward • Top Down Culture • Performance Based – Power based Culture – Goal achievement • Egalitarian Culture – Metrics based – Everyone is equal 12 6

4/30/2014 Building Culture Top Down or Bottom Up • Top Down – Vision Statement Distributed Vision Statement Distrib ted – Checklists and Handouts – Benchmarks for Performance Measurement • Bottom Up – Brainstorm Vision Statement i i i – Collective Agreement of Actions – Shared Implementation 13 Top Down or Bottom Up Outcomes • Top Down – Employee Dissatisfaction • Extra Work • Pressure to meet new benchmarks – Increase in employee turnover • Bottom Up – Employee ownership E l hi • Sense of Control • Passion to meet expectations – Increase in productivity and commitment 14 7

4/30/2014 Case Study ‐ Transforming a Hospital’s Culture • Problem: Shrinking Nurse Workforce and Budget • Solution: – Create a Shared Vision – Create an Environment Encouraging Excellence – Spirit of Cooperation – Utilize Staff as Internal Consultants Utilize Staff as Internal Consultants • Outcome: Transformation led to 15 ‐ year Expansion Project Grant 15 Building the Right Culture • Strategic Planning St t i Pl i – Mission, Vision and Value Statement – Long ‐ term Goals/End Game • Business Plan – Annual Enterprise ‐ wide and Unit specific 16 8

4/30/2014 Building the Right Culture • Investment Banking ‐ Making Money • Investment Banking ‐ Making Money • Tax and Audit ‐ Protection and Regulation • Healthcare ‐ Saving and Extending Lives • Not ‐ For ‐ Profit ‐ Making a Difference 17 Tools for Implementing the Right Culture • Communication Plan • Budgeting and Financial Reporting • Action Plans and Timelines • SMART Goals and Objectives 18 9

4/30/2014 Communications Plan • Rally the Troops R ll th T • Teams Focused on Same Outcomes • What’s in it for Me? What s in it for Me? • Keep the Lines Open 19 Budgets and Financial Reporting • Annual Financial Plan • Department Budgets • Monthly Results Reporting • Accounts Receivable Review 20 10

4/30/2014 Action Plans and Timelines • Tasks that need to be accomplished • Who will make certain they are completed • Target milestones and completion dates • Weekly status meeting updates 21 SMART Goals • Specific • Measurable • Achievable • Relevant • Timely 22 11

4/30/2014 23 Systems and Tools to Measure Success • Patient Outcome Results • Patient Satisfaction Results • Accounting and Budget Systems • Forecasting and Variance Report • Performance Reviews 24 12

4/30/2014 Levers for Transforming Your Culture • Total Rewards Levers – Compensation Compensation – Benefits • Development Levers – Career Paths – Succession Plans Succession Plans – Training – Professional Development – Performance Reviews 25 Total Rewards Levers for Building the Right Culture • Compensation – Base Salary Base Salar – Bonus Plans – Company Ownership • Benefits – Health and Welfare Health and Welfare – Retirement – In ‐ Kind 26 13

4/30/2014 Development Levers for Building the Right Culture • Career Paths and Succession Plans C P th d S i Pl – “Line of sight” and long ‐ term commitment • Training and Professional Development – Competitive Investment • Performance Reviews – Feedback and Development 27 28 14

4/30/2014 Successful Performance Reviews • Frequent Conversations Prepare Managers and F t C ti P M d Employees for the Annual Review • Keep Job/Position Descriptions Up ‐ to ‐ Date • Document the Conversations D h C i • Create a Reciprocal Process 29 Successful Performance Reviews • Start with a Self ‐ Appraisal St t ith S lf A i l • Consider Multi ‐ rater Feedback • Differentiate with Money 30 15

4/30/2014 Feedback and Coaching • Keeping it Objective K i it Obj ti • Measurable is Objective • Personal is personal 31 Implementing Culture Change • Enlist Respected and Engaged Staff E li t R t d d E d St ff • Clearly Communicate Why Change is Needed • Honor Strengths of Existing Culture g g • Focus on a Few Critical Shifts in Behavior 32 16

4/30/2014 Next Steps: Three Actions To be Taken • Turn to the person on your left • Share one action idea that you will implement when you return to the office • Exchange business cards 33 Questions? Barbara Schmidt Kemp Barbara Schmidt ‐ Kemp North Star Consultants LLC bsk@northstarconsult.com 973 ‐ 393 ‐ 8484 34 17