Isn't That Rich Podcast

The Importance of Culture in Business Success

Roxanne emphasized that company culture is not just a buzzword; it is a critical predictor of future profitability and growth. She highlighted that businesses often overlook the importance of managing their cultural systems, which directly impacts customer satisfaction, employee retention, and overall revenue.

 "When you're not managing culture, you're not taking care of your customers, and you're not hanging on to your good people. Revenue is going to suffer, profit's going to suffer," Roxanne stated.

Roxanne stresses that culture is the leading predictor of future profitability and growth, underscoring the need for businesses to prioritize and actively manage their cultural systems. This involves creating an environment where employees are engaged, motivated, and aligned with the company's goals.

The Journey of Farmer State Bank

Farmer State Bank embarked on a company culture transformation seven years ago, guided by Roxanne's expertise. This journey has profoundly changed how the bank operates, demonstrating the tangible benefits of a strong company culture. Jill and Ashley shared their experiences, noting that despite initial challenges and turnover, the right people and systems are now in place, leading to a thriving and positive work environment.

Roxanne's methods help Farmer State Bank achieve significant improvements in performance, customer satisfaction, and employee morale. The transformation process involves implementing systems that foster accountability, communication, and a results-focused approach. These systems enable the bank to create a culture where employees feel valued, supported, and motivated to excel.

Roxanne's Background and Philosophy

Roxanne's passion for improving workplace culture began early in her career. She recalled her first job in a bank, where she noticed the lack of joy and engagement among employees. This experience fueled her desire to create workplaces where people are happy, engaged, and making a significant impact on their clients' lives.

"We all want to feel like we're really good at what we do, and we do that by making a difference in people's lives," she explained.

Her approach centers on the belief that employees should not have to check their personalities at the door. Instead, workplaces should be environments where people can bring their authentic selves, find joy in their work, and contribute meaningfully to the organization's success.

The Role of Community Banks

Roxanne emphasized the vital role of community banks in supporting small businesses. She shared insights from her collaboration with Brian Tracy, who highlighted that small businesses thrive because of community banks. When a community loses its local bank, it often leads to economic decline and a brain drain, underscoring the importance of community banks in sustaining local economies.

Community banks, according to Roxanne, are essential for the survival and growth of small businesses. Unlike larger banks, community banks understand the unique needs of their local economies and are committed to supporting their communities through personalized service and financial support.

Fraud Prevention and Business Support

In addition to cultural transformation, Roxanne discussed the importance of fraud prevention for small businesses. She praised Farmer State Bank's efforts in educating their clients on protecting themselves from fraud, highlighting the critical role of prevention in safeguarding businesses.

"It's not just about the fraud insurance; that's too late. It's about fraud prevention," Roxanne notes.

She shares personal anecdotes illustrating the pervasive nature of fraud and the importance of being vigilant. By providing fraud training and resources, Farmer State Bank helps its clients mitigate risks and protect their businesses from potential threats.

Creating a Results-Focused Culture

Roxanne's book, "Thank God It's Monday," advocates for a results-focused company culture. She explained that many employees believe they are top performers without understanding what true high performance looks like. By tying individual performance to profitability and clearly defining expectations, businesses can foster a culture of accountability and excellence.

Overcoming Cultural Challenges

Roxanne shared practical advice for businesses struggling with cultural issues. She emphasized the need for authenticity and clear communication, encouraging leaders to address problems head-on and create a safe, supportive environment for their teams. She also highlighted the importance of eliminating gossip and fostering a culture of mutual respect and accountability.

The First Steps to Cultural Transformation

For businesses looking to improve their culture, Roxanne advised starting with a strong commitment to change. Implementing systems such as daily huddles, quarterly celebrations, and regular performance reviews can help create a positive and productive work environment. She stressed that cultural transformation is a journey, but with dedication and the right systems in place, any organization can achieve significant improvements.

Hope and Possibility

Roxanne concluded the interview with a message of hope and possibility. Despite current challenges, she encouraged listeners to believe in the potential for positive change and to take proactive steps toward creating a thriving company culture.

"Just because culture is bad most everywhere, are you really going to have that experience? You can make it great. It doesn't have to stay bad," Roxanne said.

Farmer State Bank's journey and Roxanne Emmerich's insights offer valuable lessons for businesses striving to enhance their culture. By prioritizing culture and implementing effective systems, organizations can achieve remarkable growth, profitability, and employee satisfaction.