Aussie start-up leading the way in culturetech
Failing to accurately measure and report on organisational culture was the major contributing factor to the types of failings witnessed at organisations like Westpac and AMP.
That is the opinion of The Workability Index (TWI) Sunil Vohra, who states: “It’s universally acknowledged that transparency is the greatest regulator. The notion of transparency pivots thinking all the way through the organisation.
“Until now, organisational culture has largely been viewed as an internal metric, typified by highly bespoke and not always relevant measures,” Mr Vohra said. “We have standardised protocols for reporting financial results, it is now time for this same rigour to be applied to the primary non-financial metric, corporate culture.
What has corporate culture got to do with technology?
Quite a bit really when we are looking at how organisations assess, report and communicate workplace culture.
Culturetech is a multidisciplinary, science-based approach to improving organisational culture. It is change technology that can be deployed at scale with and speed and is not just a collaboration tool or HR technology.
It is, in fact, a new field of technology that assists senior leaders and individual employees in building a purposeful culture.
Aussie Home Loans CEO James Symond summed it up a few years ago when he said, "The next frontier is super smart data – identifying it, drawing it out of your organisation, doing something about it and building a better business," he said.
The Workability Index is a Melbourne-based culturetech start up offering businesses the chance to build better businesses with the world’s only standardised, evidence-based benchmark metric for assessment and reporting of organisational culture.
Tech defining culture
TWI has launched the world’s first independent and standardised index creating culture transparency. The index provides companies with the capacity to measure and strengthen corporate culture.
TWI sees it as a tangible response to the current crisis in Australian corporate culture exposed by the Hayne Royal Commission.
Vohra’s co-founder and People & Culture specialist Kate Stone, noted the lack of standardised data and evidence has limited the ability of many organisations to objectively understand and respond to the workplace culture problem.
“If we are to address these challenges, we need to shift the way we assess culture towards a more outward facing model that drives greater transparency, oversight and accountability across the key dimensions of organisational culture,” Stone explained.
How does it work?
The Workability Index framework measures 10 critical dimensions of culture: Risk Culture, Trust, Future Workforce, Advocacy, Community, Wellbeing, Leadership, Organisational, Inclusion and Engagement.
“The Workability Index is the new standard for corporate culture, ensuring that all stakeholders connected to the organisation can quickly and easily understand current performance against the index,” Vohra added.
TWI exists to transform how businesses measure, action and communicate culture – in turn, offering greater transparency, accountability and trust.
This is aided by a unique tool that measures against 10 different dimensions to provide a comprehensive, meaningful index to judge cultural performance.
It is the only index of its kind in the world that provides trackable culture indexes for organisations to report against.
TWI is a standardised data set that allows a statistically valid basis for comparison.
By providing a robust, standardised framework to assess organisational culture as a key non- financial metric, The Workability Index’s ambition is to become the world’s leading culture measurement tool relying on communicating culture as the primary non-financial metric.
The Workability Index enables a future where all relevant stakeholders have access to reliable and accountable data in relation to an organisations TWI culture score.
TWI will soon launch the TWI Leaderboard, recognising Australia’s best-performing organisations.