Leadership Minute: The Five Components of a Great Culture

Every great culture is unique, but they all have five key things in common

Most leaders want a company culture that can attract, retain and develop the best people. At the same time, these same leaders often can’t clearly articulate what exactly makes a great culture. 

Too many people think that a company that showers team members with perks, catered meals and lavish company retreats exemplifies a great culture. However, the truth is many of these perks are used to mask a poor culture. Remember, few companies had flashier perks and bigger offsites than WeWork.

In many years of studying great cultures and learning from top leaders, I have found that most, if not all, companies with great cultures share five core principles. I call them the Mighty Five:

• Vision

• Values

• Goals

• Clarity

• Consistency

The first three are core components of a great culture, and the last two are modifiers that dictate the execution of those components. Let’s dig into each one and understand how they are intertwined.