Post from: MAPpingCompanySuccess
Everyone has an opinion on Snapchat turning down a $3 billion offer from Facebook (here’s the thinking of others who have been there), but the comments that caught my eye were from Gary Burnison, Korn/Ferry’s CEO, who focused on the cultural aspect.
Burnison said that based on his company’s experience, “…people are hired for what they know, they are fired for who they are.”
Very true, but it shouldn’t come as a surprise, as I said five years ago when I wrote Culture Trumps whether Hiring or Acquiring.
The problem is that managers often ignore culture, because they believe they that theirs is ‘right’ and the other will change. It’s not a case of you/your company being right and ‘her/them’ being wrong, it’s a case of the pieces don’t fit—and 98% of the time you should see it coming.
The power of culture has been at the forefront of many discussions, with top CEOs focusing on culture above everything, including strategy. When his investors wanted to cash out, Tony Hsieh knew going public would destroy the culture, so he sold Zappos to Amazon instead.
Burnison also said, “I never thought I would see culture trump money with $3 billion on the table.”
I did, but I thought it would take a lot longer before a CEO, let alone a founder, had the insight to understand that a successful culture is priceless.
Flickr image credit: Neil T