Running Head ORGANISATIONAL CULTURE CLIMATE AND COMMUNICATION1
OrganizationalCulture, Climate and Communication
TheFirst Reliance Bank is an organization that has adopted the positionof a chief culture officer, the responsibilities of the cultureofficer are to develop and implement human capital and operationalstrategies. Create a customer focused, and results driven team,create strategies to enhance customer loyalty, plan and counsel theexecutive on planning and management of resources. The officer worksto maintain the bank`s culture, manages the resources in marketing,human resources, events, customer, and corporate communications. Sheworks to provide an exceptional customer experience while providingemployees with better work experience (First Reliance Bank [FRB],n.d.).
Theculture office strives to maintain First Reliance culture, which is,trustworthiness, commitment to excellence, teamwork, positiveattitude, results, customer first, and continuous improvement. Theseare being realized by improving the employee experience through acommitted and caring leadership, rewards and recognition program, andopportunities for growth (FRB, n.d.).
Employeesare able to nominate one of their own for the associate rewards andrecognition program. They submit a comprehensive reason why theirassociate of choice deserves the award. A board of associates’analyses all submissions and picks one who exceeds the expectation ofliving the values of the First Reliance Bank. The choice getspublished at the bank`s press release, receives a thousand shares ofthe bank’s stock, $750 cash, an iPad, a membership to thepresident’s club, and one week of additional vacation (FRB, 2013).These distinguished employees are provided an opportunity to sit withthe president of the bank, discuss what the company is doing well andwhat can be done better or adopted (FRB, 2013).
Opportunitiesfor employees to do their best work are provided by ethicalrequirements. When joining the bank, an employee is expected to signan agreement which stipulates how the employee should act whilerepresenting the company within and without. These requirements areabout fraud, assets, managers, other employees, customers, andpolitics (FRB, n.d.).
Apartfrom the high performing employees, other employees receive acompetitive salary and a benefits package. On top of the benefitsprovided industry-wide such as medical vision and dental packages,First Reliance offers additional benefits such as adoptionassistance, wellness programs, and childcare reimbursement for itsemployees. This makes it very accommodating to employees whilereducing employee turnover (FRB, n.d.).
Employeesare just but part of the organizational culture, the other factor indetermining culture is the customers (Keyton, 2011). With a cultureoffice in place, the bank has been able to come up with differentprograms such as moms first, a program that focuses on mothers. Thebank offers information to mothers on how to manage their finances,specialized monthly drawings, mom of the month recognition, andbirthday cards (FRB, n.d.).
Thehometown heroes initiative is for those who have served the FirstReliance Bank community extraordinarily. It has benefits such asannual recognition to honor the hometown heroes, Monthly drawingsaimed at bettering the lives of the families of the account holders,and lucky drawings for movie tickets, electronics, and more (FRB,n.d.).
Checkand save program designed to establish a banking relationship, andenable a customer to understand how to manage money. Anyone iseligible to open this account. The benefits are a low openingbalance no minimum balance required after opening the account, thereis no interest bearing, a cheaper fifty-percent maintenance fee, anaccount per individual, and growth into another type of checkingaccount after six months satisfactory active account (FRB, n.d.).
Theinitiatives adopted by First Reliance Bank have been a successbecause, in May 2015, the bank celebrated its 16th anniversary in itsmarkets and on social media with contests, reflecting a growingsocial media utilization presence and embrace (FRB, n.d.). InNovember 2015, the Retail Banking Officer at First Reliance Bankreceived a She Magazine Award for the support of women-owned business(Flowers, 2016). In June 2016, it was named “the best place to workin South Carolina” for the 11th consecutive year. With a strongculture comes growth, on July 11th, 2016, First Reliance opened a newbranch in Loris (SC Now, 2016).
Thebank can adopt new initiatives for the coming years, strategies thatsupport the execution of the organization’s growth strategy,specify how human and financial resources will be allocated tovarious activities, and help in assessing leadership capabilities andpromotional readiness through the practice and respect of theorganizational culture (Thakor, 2014).
Thenew initiatives should be based on communication. Management shouldcommunicate needed conduct and practice to employees, who in turnwill provide feedback on what they think of the changes andexpectations needed. By doing this, the management will provide theorganization with shared values. This strategy will increase thebank’s harmony and effectiveness. When employees need to makeassumptions when dealing with a client, they will most likely becorrect because the employee participated in the creation of the newculture (Keyton, 2011).
Theculture officer is to come up with a culture that is to determine thefuture of an organization. Endorsed by the management, the newculture is to take root by the executive leading by example andfollowing the culture to the letter. Bureaucracy in decision makingshould also be eliminated. Employees should be able to make decisionswhen dealing with customers, for it will ensure the growth of theclient base through satisfaction. With a hierarchical form ofdecision making, both employees and customers become frustrated dueto waste of time (Keyton, 2011).
Employeesare to be encouraged to engage both formally and informally. The bankis to organize relationship based meetings such as retreats, camps,career seminars, parties, work group meetings, and workshops whereemployees will grow closer. With this strategy, employees will be anautonomous unit in the workplace that needs no directing. Anindependent, informed body working to satisfy company goals andstrategies, while growing in knowledge, financially and socially(Keyton, 2011).
Fora successful culture change, a company can adopt rituals andrepetitive process to ensure that the employees and management livethe culture every day. After a while due to the repetitive nature ofdelivery, the culture will be a subconscious part of the employees.It can be done through slogans, where a phrase is coined to reflectwhat the organization strives to achieve. In all the organization’sdealings, they will be in line with the slogan (Keyton, 2011).
Anothermethod is through narratives the company can come up with a storythat is repetitively told, for example, a story of how an employee ata given time did something extraordinary like trace a customer whohad made wrong investment choices and directed him on the righttrack. Such stories are to be adopted by the company and be part ofwhat the company is all about. With these techniques, employees andpotential staff will understand what is expected of them, and howthey should act with consumers (Keyton, 2011).
FirstReliance Bank. (2013, April 22). Jeremy Groom – Press Releases –First Reliance Bank. Retrieved fromhttps://www.firstreliance.com/press-releases/jeremy-groom-named-reliance-associate-year
FirstReliance Bank. (n.d.). Our Culture – First Reliance Bank. Retrievedfromhttps://www.firstreliance.com/how-we-make-banking-better/our-culture-2
Flowers, M.(2016, June). Paul Saunders, He behind She award recipient. SheMagazine. Retrieved fromhttps://www.firstreliance.com/wp-content/uploads/Paul-and-Freddie-Saunders.pdf
Keyton, J.(2011). The structure of organizational culture. In Communicationand Organizational Culture [PDF] (2nd ed., pp. 63-64).
SCNow. (2016, July 8). First Reliance Bank announces Horry Countyexpansion. SC Now [Florence]. Retrieved fromhttp://www.scnow.com/news/business/local/article_6abc2348-4518-11e6-b639-af118238278d.html
Tharkor, A.(2014). Corporate culture in banking.