Why Company Culture Matters More Than You Think
Back in 2021, I watched a Perth-based accounting
firm lose three senior analysts in two months.
Not because of salary issues. They left because
nobody talked to each other. Finance worked in
silence, afraid to ask questions or admit
confusion about new regulations.
The turning point came when their CFO started
weekly roundtables. Simple concept. Fifteen
minutes where anyone could ask "stupid"
questions. Within six months, their error rate
dropped and staff turnover nearly stopped.
Culture isn't about ping-pong tables or casual
Fridays. It's about creating environments where
your finance team feels safe asking for help,
confident sharing ideas, and invested in
collective success rather than individual
survival.
Open Communication
Teams that discuss problems openly resolve
issues faster and avoid repeated mistakes
that cost time and money.
Shared Accountability
When everyone owns outcomes together,
people stop hiding errors and start fixing
them before they become serious problems.
Knowledge Transfer
Strong cultures ensure expertise flows
between team members, reducing dependency
on individual knowledge holders.
Retention Benefits
People stay where they feel valued and
connected. Replacing experienced staff
costs far more than building good culture.