The 2007 Canadian Corporate Culture Study

As part of the process to determine Canada's 10 Most Admired Corporate Cultures, 2007 Waterstone Human Capital undertook research with 185 senior Canadian executives. Among the findings:

• 93 per cent see a correlation between their corporate culture and corporate performance (up from just 14 per cent in 2005);
• 35 per cent define corporate culture as people's behaviours; 33 per cent say organizational values; 8 per cent say work environment; 3 per cent say vision and mission; and 3 per cent say organization's DNA or fabric;
• 37 per cent say company leadership creates the corporate culture;
• 43 per cent measure corporate culture; 50 per cent do not.  Among the tools used to measure culture: employee and company-wide surveys; culture audits; and 360-degree feedback processes;
• 86 per cent say cultural fit is more important than skills in finding executive-level candidates. 10 per cent said skills came first. 5 per cent said both were equally important;  
• Among the ways of ensuring cultural fit: multiple interviews, behaviourial tests, and "gut instinct";
• 50 per cent have a process for integrating new leaders in their culture; 43 per cent do not.

Methodology:

Between January and June 2007, Waterstone Human Capital Ltd. conducted 185 face-to-face interviews and surveys with members of the Canadian leadership community representing some of Canada's largest companies from both the private and public sectors. The interviews led to more than 50 nominations for Canada's 10 Most Admired Corporate Cultures of 2007.
We asked nominees to compile a submission based on five criteria. The answers were reviewed and judged by the Board of Governors.  Total scores were based on a five-point scale of the program criteria listed below against the total number of nominations:

1. Vision and Leadership The nominated company must have demonstrated vision and leadership over the years where the company's leaders inspire their people towards a new level of growth and achievement
2. Cultural Alignment, Measurement and Sustainability How is the culture of the organization aligned to its vision, people, process, and how it is measured and sustained  to support corporate performance?
3. Rewards, Recognition and Innovative Business Achievement How does the nominated company reward and recognize its people? How is the nominee unique and innovative in its relationship with its employees, stakeholders and customers? Why is it unique and how has it demonstrated excellence in its field?
4. Corporate Performance The Board of Governors reviewed key financial statistics and indicators provided by the nominated company for the close of last year
5. Corporate Social Responsibility An outstanding organization promotes a culture that supports organizational and individual involvement in overcoming community, social and environmental issues

Canada's 10 Most Admired Corporate Cultures^™ of 2007 Winners

1. WestJet

2. Four Seasons Hotels and Resorts

3. Boston Pizza International

4. RBC
5. Yellow Pages Group
6. Maple Leaf Foods Inc.
7. Manulife Financial
8. Purolator Courier Ltd.
9. Tim Hortons
10. TD Canada Trust

For more information, please contact Jennifer Mondoux at 416 408 4545 x273 or by email.