To combat cultural erosion post-COVID, Goldman Sachs's leadership made a significant investment. They sent all 450 partners on mandatory two-day offsites in small groups to intentionally discuss, redefine, and recommit to the firm's culture, with the CEO attending every dinner.

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Alan Waxman saw how 10 siloed Goldman Sachs investing groups made contradictory, costly bets during the 2001 telecom bust. This direct observation of dysfunctional "fiefdoms" led him to build Sixth Street with a mandatory, collaborative "one team" structure to ensure cross-functional insight and avoid repeating those same mistakes.

As a company grows, new hires lack the context of early struggles. To preserve the original culture, formally document and share stories of early failures, pivots, and near-death experiences during onboarding. This reminds everyone of the core principles that led to success.

Apollo deliberately structures its office with a central floor for food and amenities. This forces "casual collisions"—unplanned interactions between employees from different teams—which is crucial for collaboration, innovation, and sustaining a strong culture, especially post-pandemic.

A biotech transitioning from a small, 'fit-for-purpose' R&D team to a large commercial organization gets a rare chance to create a new culture. Madrigal treated its rapid growth from ~100 to over 500 people as an opportunity to establish fresh core values for the newly-formed enterprise.

Culture isn't created by top-down declarations. It emerges from the informal stories employees share with each other before meetings or at lunch. These narratives establish community norms and create "shared wisdom" that dictates behavior far more effectively than any official communication from leadership.

Culture isn't an abstract value statement. It's the sum of concrete behaviors you enforce, like fining partners for being late to meetings. These specific actions, not words, define your organization's true character and priorities.

The speaker justifies expensive team offsites (nice hotels, nice dinners) as an investment in brand culture. He believes how you treat your team directly "trickles down" to the brand's external perception and ultimately how customers are treated, making it a valuable brand-building exercise, not just a perk.

Instead of siloing agency partners, Red Wing hosts an annual mid-year offsite for its entire roster (creative, PR, performance). The CEO presents, and agencies collaborate on real projects. This ritual treats them as a true extension of the internal team, driving alignment and better work.

CEO Zach Brown revived McLaren not by firing everyone, but by transforming a "toxic work environment" into one of transparency and collaboration. He kept many of the same long-term employees, showing that fixing culture can unlock the potential of an existing team, even in a high-stakes environment.

To prevent values from being just words on a wall, create a running list of specific, concrete anecdotes where employees demonstrated a value in action. This makes the culture tangible, tracks adoption, highlights who is truly living the values, and provides a clear model for others to follow.

Goldman Sachs Reinvested in Its Culture by Sending All 450 Partners to Offsites | RiffOn