Blog

Introduction

Diversity is now a pivotal strand of business strategy, regularly discussed at board meetings, team events and even product pitches.

It is also a topic often discussed at networking events and seminars, including at this month’s ‘CultureScopeClub’ forum. This quarterly event, hosted by iPsychTec and Chaired by Paul Bennett of Lloyds Banking Group, is attended by practitioners working in Audit, Risk,  Compliance, Transformation D&I Strategy and HR, representing global businesses across a range of industries.

This post captures some of that discussion, which explored current approaches towards D&I with regards to the importance of values and behaviours, building it into your organisational narrative and, despite the title of this post, the critical role of data.

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The Challenge

Dashboard is led by a team of highly skilled and professional individuals. However, these c-suite members rarely work together and have limited face-to-face time with each other, meaning that a strong connection amongst the group had not fully developed.

As such, the company decided that a team development programme was required to establish a more collaborative relationship

between this group of individuals. After being recommended iPsychTec’s  TeamScope programme, Dashboard engaged the firm to provide a bespoke experience that could address and overcome their challenges and deliver commercial benefits as a result.

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CultureScopeClub – Forum 2

We were pleased to hold the second edition of the CultureScopeClub, a forum that brought together leaders in Culture and Talent comprising financial services, oil and gas, utility, nuclear, fintech, professional services, media and FMCG etc. Chaired by Catherine Dineley, Head of Group Culture at Lloyds Banking Group, the discussion focused on Managing Risk.

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Culture is a big word. It can mean different things to different organisations, and it is often used in the wrong context. It is not just about your mission statement or core values, although those are important aspects of culture. The most important aspect of culture is how these translate in behaviours, how you do business on a day-to-day basis with all stakeholders – customers, suppliers, shareholders, and employees. If you don’t have that right, then everything else will be an uphill battle for the long-term benefit of all involved.

Many companies think they have great cultures, but their employees disagree or feel disengaged from the company vision and goals because the behaviours they observe are not aligned with the vision, for example, there may not be clear lines of communication between management teams and staff members at every level.

The good news is that successful companies are leading the way by taking responsibility for driving a cultural change to unlock business potential. They recognise that they need proactive methods of managing their workplace culture. To be successful, it is essential for an organisation to use predictive tools and analysis with proactive follow through, such as the strategies that CultureScopeClub members use with their workforce science analytics.

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“If you are a non-executive board member and you are not really close to the inside of the organisation, then you are not doing your job.”  Said Alison Gill – a behavioural psychologist who specialises in board effectiveness said in a recent webinar.

The corporate governance code clearly states that the board’s role is to promote the long-term sustainable success of the organisation – which involves being clear how the culture is aligned to the purpose, values and strategy of the organisation.

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Resilience at work is a black hole in research terms. That is starting to change. For the first time, we are seeing really interesting work emerge which measures and analyses resilience at work. This matters because work is where we spend much of our lives and is the cause of much of our joy and our stress.

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“We are all in this together” – but are we really?  After this great re-set, employees and customers are watching very closely to see what businesses and organisations are actually doing – actions, verbs, behaviours – to focus more on the employee experience, fostering a sense of belonging in a safe and positive way, where groups are accepted both culturally and socially and are treated equally.

Diversity and Inclusion (D&I) are almost always used together giving the impression that they mean the same thing, or can both be achieved by doing the same thing.  It is time that we make the case for splitting up this couple to drive home how different they are from each other.

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In 2018 Deutsche Bank founded Breaking Wave, an organisation tasked with operating as an agile fintech with all the advantages of calling on all the knowledge and resources of its established parent. This week, at a time when so many organisations are thinking about how to bring innovation into their culture, we spoke to Breaking Wave CEO Richard Collin about this unique cultural journey (take a look: www.ipsychtec.com/webinar).

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Questions, questions, questions.  That is all that seems to be on everyone’s mind.  Some as simple as how are we going to go back to work?  But most more fundamental, such as what is our purpose as an organisation?  What are our true values?  What kind of leadership do we provide? 

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