Recently, I was asked to provide some observations on a regulated firm’s culture.
In order to begin to understand a firm’s culture, we need to look at a range of areas including some general observations which tell us what’s going on day to day. These observations will often provide us with indicators that things might not be quite as positive as we’re initially told by the senior team.
Here’s how the conversation sometimes goes with a senior leader of a business.
Me: How would you describe your culture??
Leader: Oh it’s pretty good, we do ‘X’ and ‘Y’ and we’ve introduced some changes. There’s still a bit more to do, but our employees love working here, our culture’s great!
Me: Great, is it alright if I speak with some of your employees, including your more junior employees?
Leader: Yes, but we did an employee survey last year and the results were really positive.
Me: And can you describe how you engage with your employees? How often do you spend time with them, talk to them about what they’re working on, find out what their challenges are and ask them how they’re doing?
Leader: Well, they know they can always come to speak to me. I tell them in an email every Xmas that my door’s always open.
Me: Oh.
In this particular case, the firm I worked with had a comprehensive range of evidence that indicated their culture was healthy.
But, this isn’t always the case. Senior leaders will sometimes have a rose-tinted view of their culture and when we speak with more junior employees, they have a different story to tell.
So, if you’re the leader of a regulated business, do what you can to make time for your employees and listen to what they have to say, because that’s where hidden issues surface and the insights you’ll never get from a survey will emerge.
Recently, I was asked to provide some observations on a regulated firm’s culture.
In order to begin to understand a firm’s culture, we need to look at a range of areas including some general observations which tell us what’s going on day to day. These observations will often provide us with indicators that things might not be quite as positive as we’re initially told by the senior team.
Here’s how the conversation sometimes goes with a senior leader of a business.
Me: How would you describe your culture??
Leader: Oh it’s pretty good, we do ‘X’ and ‘Y’ and we’ve introduced some changes. There’s still a bit more to do, but our employees love working here, our culture’s great!
Me: Great, is it alright if I speak with some of your employees, including your more junior employees?
Leader: Yes, but we did an employee survey last year and the results were really positive.
Me: And can you describe how you engage with your employees? How often do you spend time with them, talk to them about what they’re working on, find out what their challenges are and ask them how they’re doing?
Leader: Well, they know they can always come to speak to me. I tell them in an email every Xmas that my door’s always open.
Me: Oh.
In this particular case, the firm I worked with had a comprehensive range of evidence that indicated their culture was healthy.
But, this isn’t always the case. Senior leaders will sometimes have a rose-tinted view of their culture and when we speak with more junior employees, they have a different story to tell.
So, if you’re the leader of a regulated business, do what you can to make time for your employees and listen to what they have to say, because that’s where hidden issues surface and the insights you’ll never get from a survey will emerge.