PwC’s 2021 Global Culture Survey, canvassing the views of 3,200 workers worldwide, finds that culture is a source of competitive advantage and a strategic priority for senior leaders, but it has been deprioritised in the eyes of the rest of the workforce.
69 percent of respondents who say their organization has been able to adapt over the past year also say their culture is a source of competitive advantage. The data also show that respondents who say their organization has a distinctive culture are more likely to also see an increase in revenue and customer and employee satisfaction. Three-quarters of senior management (72 percent) agree that their culture helps successful change initiatives to happen.
The survey results demonstrate a clear divide between those who say their culture is distinctive and those who do not. Globally, 73 percent of respondents who state that culture is a source of competitive advantage say making decisions quickly has either become easier or stayed the same during the pandemic. The proportion of people agreeing with this rose in the U.S. (81 percent), the U.K. (77 percent), and China (81 percent). Conversely, only 57 percent of respondents globally who state that culture is not a source of competitive advantage found decision-making easier or the same during the pandemic. In China, this percentage dropped to 38 percent whilst in India it rose to 68 percent.