In all cases equip managers to have authentic interactions and conversations with people, develop insights and take action.Ĥ. Alternatively, start at the coal face and ask people what needs to change to achieve the vision. Start with the very senior people and progressively open up the conversation.

This is best framed around a wide-ranging, ongoing conversation about how the organisation can achieve its corporate objectives.

Changing a culture requires a new model of involvement and engagement. Involve people in an organisation-wide conversation. It is worth spending time to build this picture with the senior group to avoid ambiguity and create the ‘North Star’ against which to guide change.ģ. Culture change is best set against a very clear shared understanding by senior people of the outcomes and objectives of change and what kind of culture will achieve them. While improvements can be made in the short-term, culture change requires a strategic, long-term perspective.Ģ. Time, energy and commitment are required to change culture and unless there is resolve at the top any changes will quickly be abandoned when the going gets tough. Here are 10 pointers for successful culture change:ġ. Given this context, what can financial service organisations do to make sure their cultures drive market integrity and consumer trust? How can boardroom aspirations be turned into tangible changes to the way trading floors and branches operate? The Financial Conduct Authority makes it clear that culture is a determinant of success in the sector, and a requirement in the regulatory regime.

You’re both in the culture and of it.īut if culture is largely unconscious and automatic it has powerful consequences for the fortunes (literally) of companies and their customers, particularly, as recent history has shown, in the financial services industry. It seeps from the walls of the offices we work in, is enshrined in policies and procedures, and finds form in the day-to-day conversations and behaviour we participate in. The thing about culture is you don’t need to think about it. This gentle phrase hints at the largely subliminal nature of culture and the unconscious set of assumptions that define an organisation’s view of itself and how it deals with the world, and in turn what behaviour is legitimised or proscribed. There are many definitions of culture, but the simplest is ‘the way we do things around here’.

Changing corporate culture