Mettle's Task
To advise and assist our Partner to change their culture to be more able to respond to industry wide restructuring and market shifts
Key Challenges
- Growth - away from just traditional brewing to include boutique wine and non-alcoholic beverages
- A great place to work - building less confrontational ethos to be a No.1 employer
- Open to change - creating more excitement and sense of opportunity
- Innovation - thinking outside the box in a traditional industry
- One Team - reducing us vs. them
The Program
- Our Partner began their culture development by defining their core values. The executive team passionately discussed each quality they selected; over the next seven years only two qualities were added and none deleted
- As consultants, we used the same research tools throughout the process so that employees developed a consistent, comprehensive picture of their culture project
- We encouraged our Partner to establish and reinforce a new language around their culture so that it sent clear, integrated messages to all employees
- We also suggested that our Partner implement new culture procedures (for example, changes to remuneration) in the same equitable manner across the whole organisation
- HR ensured that all new hires exemplified the personal and professional qualities of the new culture. Over time, non-performers were exited from the company
- We ran a series of engagements over the development period which built momentum in the company. The senior levels experienced our programs first. Then when the junior teams began these programs, the senior teams entered the next phase
- Managers were, therefore, able to model the values and competencies they expected from their teams
Outcomes
- The change in our Partner was remarkable
- In 2004, interviews conducted across the company revealed that employees valued their culture. People wanted to work there
- Over the seven years that our Partner improved its culture, its total shareholder return (TSR) averaged 15.8% per year versus the average ASX200 index TSR of 10.1% for the same period
- Between 2000 and 2003, our Partner’s compound annual growth in core earnings per share (14.7%) was more than double the average of its global brewing peers
- Between 2000 and 2003, our Partner’s compound annual growth in core earnings per share (14.7%) was more than double the average of its global brewing peers
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