Attracting, retaining talent with a purpose-driven approach to building culture
James Powell | August/September 2024 Footnote
While business leaders all agree on the importance of a company culture, exactly how to achieve a healthy culture has long been subject to debate. In the past, many organizations made the mistake of letting culture happen by accident.
However, a greater understanding of mental health and work/life balance today has sparked a trend of firms developing culture in a more meaningful and deliberate manner. Gone are the days of simply putting a pingpong table in the break room to drive culture and engagement among employees.
Instead, employees and prospective candidates look for a workplace that fosters collaboration, innovation, flexibility and — perhaps most importantly — an equitable opportunity for growth.
The importance of retaining talent
There were just 63,305 accounting graduates last year, according to the AICPA. This figure is the lowest since 2000 — when only 41,373 graduates earned accounting degrees — and is a call for firms to change how they attract and retain employees. Consider that in a recent
Gallup poll, employees who said they felt connected to their organization’s culture were 68% less likely to feel burned out and more than five times likelier to recommend their company as a great place to work.
To harness culture as a true competitive differentiator that attracts and retains top talent, firms must prioritize empathy, authenticity, trust and a genuine commitment to employee well-being. By creating an environment where employees are empowered to be proactive culture ambassadors, firms can transform the workplace into a supportive space that nurtures both professional growth and personal well-being.
This approach cultivates “culture champions” — active participants who shape the organization’s future, provide valuable feedback to leadership on effective practices and connect with and cheer on colleagues.
A deliberate approach to building culture
In 2019, KPMG realized there needed to be a platform to amplify employee voices and give them more infl uence in the firm’s future. This initiative led to the creation of the Culture Champions Network. Through this program, employees are empowered to act as culture ambassadors, fostering community, participating in skillbuilding opportunities and monitoring the firm’s cultural health.
Achieving buy-in from employees can be challenging under the best of circumstances, but when the pandemic prompted a shift to a remote/hybrid work model in 2020, firm leadership recognized the need to evolve the program to engage employees.
The firm developed a step-by-step program, accessed on a virtual learning platform, that features achievement tiers employees can strive for, with recognition and rewards built into each level to inspire and drive progress.
Similar to a video game that challenges players to complete levels, the platform motivates employees to achieve each tier through a blend of actions and learning — from formal training around topics including innovation, inclusion and environmental sustainability, to informal training such as coffee chats or working with nonprofits.
To date, nearly a quarter of the firm participates in the program, with the majority (89%) saying they would recommend that others join. As of May 2024, 270 professionals have achieved the top status of “Culture Legend.” This achievement comes with unique opportunities like access to leadership, community-building platforms and skill-building opportunities.
Be the change you wish to see
When a deliberate approach to culture is implemented correctly, employees feel empowered to create their ideal workplace. Instead of conforming to the existing culture, employees are encouraged to show up authentically and participate in shaping a culture that’s meaningful to them. Employees then become culture champions who help bring a company’s values to life.
According to Marie Marquardt, a partner in the KPMG Minneapolis office, this was a key factor that drove her to participate in the firm’s Culture Champions Network, eventually rising to the level of Culture Legend.
“The program gave me the opportunity to be an ambassador and steward of the fi rm where I can build connections, grow personally and professionally and strengthen our culture,” Marquardt said. “Having the support and encouragement to lead by example enables me to make the difference with our people.”
Active engagement in a firm’s culture is essential for cultivating lasting relationships that retain employees and develop future leaders. Providing a platform to share ideas, serve as role models and contribute to the firm’s direction is a powerful motivator for employees focused on career growth. In turn, leadership can lean on these influencers to address cultural challenges and uncover new opportunities for improvement.
Trust the process
Enabling employees to act as culture ambassadors not only boosts their engagement and loyalty but also cultivates a flourishing workplace that promotes both professional and personal development. By putting a process in place to develop culture, a company can effectively integrate shared values into every stage of the employee experience. Doing so enables a firm to fully leverage employees’ talents, maintain happy clients and future-proof against external market dynamics.
James Powell, CPA is the managing partner of KPMG’s Minneapolis office and Head of Markets-Audit for the North Central Business Unit. As an audit partner with more than 30 years of experience providing financial statement and integrated audit services, he has served companies in KPMG’s Silicon Valley, San Francisco, Atlanta, Nashville and Minneapolis offices.
