Corporate culture is one of the most valuable driver organizations have nowadays. EY developed a new approach and assessment to make culture tangible through digital assets.
Corporate culture and leadership have elevated in importance at the board and executive level as critical factors in both protecting (managing risk) and creating (linking to strategy, driving transformation) value. Most of the company value (52% on average) is now driven by intangible assets, such as people capabilities, culture, purpose and brand. Measuring and enabling the effective management of those assets is what we do.
Our focus at EY is turning the intangible to tangible through data and modern behavioral science practices. EY has a tool that offers the unique opportunity to visualize a company’s culture, leadership, and teaming capabilities — creating the base design for deliberate change.
Culture is not the soft stuff. It is the real, human stuff. It is the strength in people that can energize a business. It is how people collaborate, how decisions are made, how value is created and protected, and how people motivate each other.
Leaders are looking at the role of intangible assets, like culture and brand, in delivering short- and long-term value for shareholders, customers, employees and society. Getting culture right enables a business to deliver value across these four interconnected stakeholder groups.
Executives and boards are getting more involved in the assessment, design, change and oversight of culture to make certain that unethical behaviors don’t go unchecked, customer demands are met, and companies get and stay nimble enough to adapt. Culture can either be:
- a weight dragging your organization down and limiting value
- or an accelerator helping you to realize strategy and properly manage risk.
Culture is a key enabler of an organization’s purpose and strategy. Evolving culture is about changing a few everyday behaviors and reinforcing those changes through shifts in the company operating model and environment. We can do this by:
- Defining culture: We support organizations to define a cultural ambition aligned to purpose and strategy.
- Assessing culture: We diagnose and assess the levers of culture.
- Evolving culture: We support organizations in achieving their desired culture based on the transformation of their cultural levers.
- Reporting on culture: We use a culture dashboard for boards and executives to monitor the cultural health of the organization in a timely manner.
Understand how EY’s Culture Fitness Diagnostic works
EY’s Culture Fitness Diagnostic CFD provides clients with dynamic reports which can be cut by various demographic features and measured against industry benchmark data to help understand motivators and behaviors and provide an actionable roadmap for the future. The assessment provides clients with an opportunity to leverage company culture and leadership to create long-term value. In addition, it provides data-backed insights to understand the current and desired future state of an organizations, as well as the path to making the shift happen.
The Culture Fitness Diagnostic is a 13-question mobile enabled measurement to make culture tangible through digital assets. It identifies current cultural health and how to shift it. The diagnostic allows organizations to gain a comprehensive understanding of their culture and use the data to operationalize a cultural shift. In addition to a core module, there are additional assessment modules applicable to their business, such as organizational risk, Organizational Network Analysis ONA, D&I and other customized questions.
Joe Dettmann, Micah Alpert, Mary Woolf, Juliet Andrews, Claudia Polli, Iain Harrison