Australian tech start up launches world’s first standardised culture index

Sunil Vohra

The world’s first independent and standardised index creating culture transparency, launched this week, provides companies with the capacity to measure and strengthen corporate culture.

A tangible response to the current crisis in Australian corporate culture exposed by the Hayne Royal Commission, Melbourne-based start-up The Workability Index’s platform also provides companies with strong cultures the capacity to benchmark and highlight their performance.

The Workability Index (TWI) is set to revolutionise the way that organisations assess, report and communicate workplace culture.

TWI co-founder, Sunil Vohra, states that failing to accurately measure and report on organisational culture was the major contributing factor to the types of failings witnessed at organisations like Westpac and AMP.

“It’s universally acknowledged that transparency is the greatest regulator,” Mr Vohra said. “The notion of transparency pivots thinking all the way through the organisation.”

“Until now, organisational culture has largely been viewed as an internal metric, typified by highly bespoke and not always relevant measures,” Mr Vohra said. “We have standardised protocols for reporting financial results, it is now time for this same rigour to be applied to the primary non-financial metric, corporate culture.

Mr. Vohra’s co-founder and People & Culture specialist Kate Stone, noted the lack of standardised data and evidence has limited the ability of many organisations to objectively understand and respond to the workplace culture problem.

“If we are to address these challenges, we need to shift the way we assess culture towards a more outward facing model that drives greater transparency, oversight and accountability across the key dimensions of organisational culture,” Ms Stone explained.

The Workability Index framework measures 10 critical dimensions of culture: Risk Culture, Trust, Future Workforce, Advocacy, Community, Wellbeing, Leadership, Organisational, Inclusion and Engagement.

“The Workability Index is the new standard for corporate culture, ensuring that all stakeholders connected to the organisation can quickly and easily understand current performance against the index,” Mr Vohra added.

TWI has published the initial index of the combined culture scores of member organisations. This TWI score will become the de-facto standard for culture transparency, supported with subindexes tracking specific industries and dimensions.

TWI will soon launch the TWI Leaderboard, recognising Australia’s best-performing organisations.

You must be logged in to post or view comments.