What it was deduced from the present study is that the present culture of the organization is different from what the employees would like to be. The present culture is hierarchical, while the employees would like to have the clan type. In hierarchical cultures, the main values drivers are efficiency, obedience, control, consistency and uniformity. The hierarchical type of culture is typical for banks while adhocracy is usually the second type of culture found in financial institutions. Banking institutions are considered as formal work places characterized by efficiency and stability. In addition, reliability is important so formal rules and policies are essential for the running and vitality of the organization. These are also the main characteristics of hierarchical cultures, so it’s not surprising that the dominant culture of the bank of interest is hierarchy (Cameron and Quin 2006). The application of formal rules and policies in the management of the bank as well as in the customer-bank transaction is important since in that way the risk of mistake conduction is minimized. As a result, the authorities and responsibilities of each employee are clearly defined, a definite rank of authority is established and strict policies are applied, all contributing in company’s stability and control.

On the other hand, the majority of the employees, prefer the more family-type clan culture, where commitment and communication are the key values and organization’s success will be achieved via cooperation and participation (Cameron and Quinn 2006). Dwyer et al. (2003), have shown that the values of clan organizational culture, is the type of culture that provides a proper environment where the skills and abilities of both men and women can flourish.

This observed mismatch between organization’s culture and the culture the employees desired to be, may result to a low job satisfaction and intention to leave. Evidence has shown, that job satisfaction is closely related to the extent of how much the employees fit in the organization’s culture (Adkins and Caldwell 2004). It should be mentioned that extent of deviation between individual and corporate culture has been proved to affect employee’s job performance (Ojo 2009) or signal a potential resistance to a future change in the organization, e.g. a technology driven change (Cabrera et al. 2001) thus affecting organizations efficiency and productivity. Lund’s study (2003) has proved that job satisfaction is positively related to clan and adhocracy cultures while on the other hand is negatively related to market and hierarchy types.

An earlier study by O’Reilly et al (1991) has shown that the fit between an individual’s preferences for a particular culture and the culture of the organization the person joins is closely related to commitment, satisfaction and turnover. The type of culture that an organization develops is also influenced by the working environment itself and the way people communicate to each other (Denison et al. 2004). The point of extension of miscommunication between an organization’s different cultures may affect in a negative way the organizational learning (Schein 1996).

The mismatch of the organizational culture that takes place in the organization and the one the desired one may be due to the mismatch of the actual HR practices that are implemented in an organization and the perceived HR practices, that the employees perceive to be used by the organization.

Perceived HR practices are an important mediator in the relationship between intended HR practices, that are , also, aiming in promoting a certain organizational culture in the organization, and employees attitudes (Boxall & Purcell 2003; Nishii & Wright 2008; Ostroff & Bowen 2000; Purcell & Kinnie 2007) , which define the organizational culture, and thus a mismatch of the two could also lead to a mismatch of the organizational culture that takes place in the organization and the one the desired one. Future studies could try to find the potential differences between the actual and perceived HR practices and how they are connected to the organization’s culture.

In stable environments like banks, it is believed that control and efficiency, are the key element that lead organization’s effectiveness. Market oriented leaders, are competitive, goal achievers and they believe that aggressive competition and customer focus will bring effectiveness.

On the other hand, “adhocratic” leaders, are visioners, and consider innovativeness and as the key for efficiency (Cameron and Quin 2006). Studies have shown, that organizations with internally oriented cultures like hierarchical, are difficult to reach highly successful performance. In difficult times, like the financial crisis, companies should foster cultures with external and flexibility orientations that could enhance the development of new products and services, thus increasing competiveness (Acar and Acar 2012; Naranjo Valencia et al 2010).

By defining the culture of an organization, the strong and weak points can be detected. The knowledge of what culture the employees experience to what they desire to be, assists to set new internal marketing strategies that will inspire the employees to achieve the goals of the institution (Wasmer and Brunner II 1991). The companies that effectively develop their cultures have high potentials to an increased productivity and quality of work life (Rose et al 2008). Besides, strong cultures are formed, when the explicit and implicit assumptions are in harmony (Schein 1986) and that is the key to a good organizational performance (Kandula 2006 in Shakil Ahmad 2012). Organizational culture can be viewed as the central construct in realizing the evolution of the organization’s identity during external or internal environmental changes. All the cultural traits such as collective history, organizational symbols, and unifying practices, provides the “glue” that holds the organization together, helping members to make sense of what the organization stands for (Ravasi and Schultz 2006).

A strong culture may positively influence performance, by inspiring employees with a clear sense of what the company stands for and what are the goals of the organization (Jones 2008). The organizational culture of successful companies and firms is distinctive, easily identifiable by the employees thus having a powerful effect on the overall performance-effectiveness of the organization (Cameron and Quinn 2006).

Table 1.

table1Organizational Culture of Greek-1


Table 2: Average Scores for Each of the Organizational Types (A=Clan, B=Adhocracy, C=Market, D=Hierarchy) in the Now (Current) and Preferred (Future) Columns
table2Organizational Culture of Greek-3

Table 3: Paired Samples T-Tests of what the Employees Want the Organizational Culture to be (Preferred) from
table3Organizational Culture of Greek-4

Fig1Organizational Culture of Greek-2
Figure 1: The Organizational Culture Profile of the Bank Table 1: Cronbach’s Values for the Four Types of Organizational Culture what the Current Organizational Culture is (Now)