Deloitte: Role of Social Media in Building Workplace Culture Has Differing Views

By Rob Starr, Content Manager, Big4.com

According to Deloitte’s new “Core Values and Beliefs” survey conducted online by Harris Interactive.  Examining perspectives on culture and business strategy, 41 percent of executives participating in the study believe social networking helps to build and maintain workplace culture, while only 21 percent of employees have the same view.

The majority of all respondents indicate that culture is important to business success. However, the study indicates executives tend to prioritize a clearly defined business strategy (76 percent) above clearly defined and communicated core values and beliefs (62 percent), whereas employees value them equally (57 percent and 55 percent, respectively).

In considering the elements of workplace culture, executives rank competitive compensation (62 percent) and financial performance (65 percent) among the top factors influencing culture on the job. Conversely employees say the intangibles – regular and candid communication (50 percent) and access to management (47 percent) – outweigh the tangibles – compensation (33 percent) and financial performance (24 percent).

The study also points out differences in the degree to which executives and employees perceive culture as being expressed in their organizations – with executives generally giving their organizations stronger scores.

Deloitte’s “Core Beliefs and Culture” Survey explores the notion of workplace culture, defined as a set of timeless core values and beliefs, as a business driver. Commissioned by the Office of the Chairman, this inaugural study examines the connection between workplace culture and business strategy, and their impact on building and sustaining exceptional organizations.