CURRENCIES THE LEDGER How culture can provide a competitive edge In light of the Great Resignation, recruiting and retaining talent is more of a priority than ever. According to PwC's 2021 Global Culture Survey, work culture not only served as a source of strength during the pandemic but also gave businesses a competitive advantage in their markets. Workplace culture is a growing priority among senior leadership 53% 2013 B 61% 2018 Why? A strong culture organizational adaptability Reason #1 81% Culture is a source of competitive advantage Reason #2 Companies with a distinctive culture are more likely to see business increases across the board compared with ones without Revenue Employee satisfaction Customer satisfaction +48% +80% +89% 85% Culture is an important topic on the leadership agenda 85% The way people act is consistent with what we say about culture Our culture 88% enables successful internal change initiative to happen 67% 2021 Organizations' top 5 cultural priorities 1. Retention and recruitment 2. Digitization 3. Innovation 4. Health and safety 5. Collaboration 12 Q ICBA Independent Banker Q April 2022 Source: PwC Global Culture Survey 2021