Culture: A key ingredient in business success
As Chief Human Resources Officer at Voya, I appreciate that our focus on the “how” means ensuring that the culture is designed so that employees are engaged in working toward the same common cause and that our behaviors help drive our financial performance. In addition, rigorous talent-acquisition and talent-management agendas are needed to ensure that we’re attracting and retaining the best talent in the industry. The right talent will relentlessly focus on customers — partnering to identify and drive opportunities to enhance profitability.
While every company has a culture, some are created by design, and some are the result of neglecting to design. Those that are successful are the ones purposely designed to meet the needs of the business. At Voya, we put a lot of focus on our talent and culture strategies, including building a common leadership model, which outlines leadership behaviors for all. And, by promoting and rewarding the right leadership behaviors, we support the “how.”
Our strong culture, combined with having the right talent, helps promote problem solving, continuous improvement, the exchange of ideas, communication and team work — which ultimately creates value for both the business and the community. As a result of our cultural transformation, we saw a 10-point improvement in our organizational health index scores over the course of a few years and achieved our Adjusted Operating Return on Equity goals two years ahead of schedule.
Culture helps differentiate a company from its competitors, is meaningful to employees and is an accelerator of our growth. If you want to win the war for attracting and retaining top talent and drive business and operational performance, start with your foundation — your culture.