
It is with the new eyes of being a contributor, of giving piece aย chance where I believe we will build organizations capable of addressing the chronic disengagement levels, lack of innovation and levels of productivity. Over at HBR,ย Scott Keller and Carolyn Dewar wrote a wonderful case study involvingย ANZ Bank in a post entitled, "Three Steps to a High-Performance Cultureโ on January 26th, 2012. One key paragraph stood out for me:"The real act of discovery consists not in finding new lands but in seeing with new eyes."
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ANZ Bankย offers an example: a decade ago, the bank embarked on an effort described as a "unique plan of eschewing traditional growth strategies and recasting the culture of the bank to lift efficiency and earnings." In the initial two years, the share of employees having the sense that ANZ "lived its values" went from 20 to 80 percent, and the share seeing "productivity in meetings" from 61 to 91 percent, with similar rises in the shares seeing "openness and honesty" and a "can-do culture." In parallel, revenue per employee increased 89 percent and the bank overtook its peers in total returns to shareholders and customer satisfaction. A full ten years after those initial efforts, ANZ has sustained its results: its profit after tax has grown at a cumulative average growth rate of 15 percent, putting it well ahead of its industry.
