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Nicsa’s Diversity Project North America's Next Practices Committee is dedicated to supporting its members through best practice collaboration. In a recent meeting, the committee focused on creating healthy, thriving corporate cultures. The committee welcomed Alan Kolp, a distinguished faculty member in residence at Baldwin Wallace University and co-author of several influential works on organizational culture. Alan shared his extensive expertise on the importance of cultivating a positive work environment and led a thought-provoking roundtable discussion that explored the nuances of building and sustaining a strong organizational culture.

Culture as the Foundation of Organizational Success

The discussion touched on the critical role that culture plays in an organization. It’s the collective behaviors, values, and beliefs that define what it means to be part of the organization. Committee members were challenged to think deeply about what it means to be a “culture carrier”—someone who embodies and spreads the organization's values. Onboarding processes can be pivotal moments where new employees can experience and embrace a company culture from the outset.

Cultivating a Strong Corporate Culture

1. Values Alignment: Aligning personal values with organizational values can be an important element. Companies that clearly define and live by their values are more likely to foster a culture that employees are proud to carry forward.
2. Leadership and Responsibility: While leadership plays a crucial role in setting the tone for culture, maintaining and nurturing culture is a collective responsibility. Inconsistencies at the top can erode the cultural foundation, making it essential for all leaders to act as guardians of the culture.
3. The Role of Virtues: Central to a healthy organizational culture are classical virtues such as justice, courage, compassion, hope, and trust. These virtues are the bedrock upon which strong cultures are built. They are not just aspirational but should be actively practiced and reinforced within the organization.
4. Storytelling as a Cultural Tool: Storytelling can foster a sense of belonging and connection within the organization. By encouraging employees to share their experiences of belonging, mattering, and making a difference, organizations can strengthen their cultural fabric.
5. Virtual Workplace Challenges: Firms must strategically place employees who embody and promote the culture throughout the organization, including in remote or global offices.
6. Intentionality: The group acknowledged the importance of intentionality in culture-building, especially when onboarding new employees who may not have the benefit of in-person interactions.

Looking Ahead: Continuing the Conversation

The Next Practices Committee left the meeting with a renewed understanding of the importance of culture in organizational success. The group shared insights and provided each other with a valuable framework for thinking about culture not just as a set of policies or values, but as a living, breathing aspect of the organization that must be actively cultivated, protected, and grown.

As the committee continues its work, these discussions will serve as a foundation for further exploration into best practices for creating and sustaining healthy corporate cultures. The Diversity Project North America aims to help its members build organizations where culture is not just an afterthought but a central element of their success. If you would like to learn more about getting involved in these and other industry discussions, please reach out to [email protected].

Nicsa’s Diversity Project North America is a cross-company initiative that champions DEI as a strategic business priority within the asset and wealth management industry.

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