Every independent advisory firm has a culture — the values and behaviors expected from all associated with it. But, cultivating a great company culture is anything but simple.
The new year is often when firm owners choose to make enhancements and changes to their firm culture. In doing so, leadership typically starts by putting together a list of changes they’d like to make and then implementing those changes all at once.
I think of making changes to an advisory culture as like operating on a patient. A surgeon can make changes to a patient’s heart, but doing it without killing the individual (of course) is the true challenge. To complete the analogy, operating on various parts of a patient’s body at the same time would obviously increase the risks of a bad outcome.
As you go into 2020, here are four ways to make changes to your culture, so they make a powerful difference to the health and vitality of your advisory firm in the coming year and beyond.
First, company culture is driven by core values that emphasize your company beliefs, behaviors and practices. Basically, you’re answering, “How do we act?”
When working with firms, we encourage firm owners and executives to review core values each year. Are any missing? Do they need to be clearer? Can inclusion and diversity be enhanced by tweaking core values?