The Challenge
Non-financial misconduct cases are occurring with increasing frequency and heightened visibility. Media coverage attracts undesirable attention and is driving a renewed emphasis on workplace culture.
New regulations and laws on tackling poor behaviour are being introduced and the message is clear – serious misconduct such as bullying, harassment and violence is a matter of regulatory concern. The reputational damage runs deep. Attracting and retaining top talent, adapting to evolving customer expectations, and managing investor relations are complex challenges as organisations place greater emphasis on cultural factors essential to responsible business practices.
The Project
A major financial services professional body and educational charity proactively commissioned an independent review of its culture and behaviours amidst several high-profile misconduct cases in the news.
Our approach to conducting a culture audit is risk-based and data-led. Using a blend of qualitative and quantitative data gathering techniques, we performed a forensic gap analysis to identify behavioural risks and potential exposure to the organisation through misalignment of espoused, expressed and actual behaviours.
We established a robust baseline of existing conduct and behavioural norms, prioritised actions to address gaps, and identified organisational levers to reinforce desired behaviours and cultural outcomes. We proposed how to embed key actions and designed key behavioural indicators to measure impact on business performance.
The Outcomes
- An independent and robust analysis of culture and norms that identified blind spots and gaps in behaviours previously unidentified by the organisation.
- Enhanced risk resilience of culture and behavioural standards to mitigate the risk of inappropriate conduct and behaviours taking place.
- A high performing, engaged and empowered workforce that embraces ethical values and acts with integrity, serving as a platform for value-creation and growth.
- Demonstration of a strong tone from the top to key stakeholders and a dynamic response to maintaining the highest standards of corporate governance and behaviours.