Leaders: You Are What You Eat

Leaders: You Are What You Eat
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So here’s the thing:

In the UK financial services industry, a pervasive culture of short-term profit maximisation often undermines employee morale and retention, with statistics showing that over 40% of employees feel undervalued in their roles, leading to disengagement and high turnover.

(Source: Gallup, 2022).

Today, I want to delve into a truth that’s often overlooked. The culture within your organisation is not just a backdrop; it’s the very essence that drives communication, feedback, and ultimately, performance.

Internal Behaviour: The Heart of Your Business

Let’s start with internal behaviour. In the financial services landscape, your team’s communication style and feedback mechanisms reveal so much about your organisation. For example, are you fostering an environment where asking for help is encouraged and where leaders give credit rather than claim it as the norm? When leaders model behaviours like these, it creates a fantastic ripple effect of support and empowerment, which is not to be taken lightly.

We all know the corporate value of defining values and company purpose but having clearly articulated values and a defined purpose should guide not only external communication but also how we interact internally.

Research indicates that organisations with strong internal communication practices are three times more likely to have engaged employees (Source: McKinsey & Company, 2021).

When leaders embody these principles, they inspire their teams to follow suit. This isn’t about taking yourself too seriously; it’s about creating a culture where everyone feels empowered to contribute, which is crucial in an industry that thrives on collaboration and trust and is the responsibility of leaders to facilitate.

The Toxicity Trap

However, we often see financial services firms trapped in a cycle where short-term gains are prioritised over long-term stability and employee well-being.

Toxic behaviours can become the norm, with leadership often believing these issues don’t apply to them.

This leads to an environment where individuals are viewed as disposable, mere assets in the pursuit of profit.

Statistics reveal that over 50% of UK workers cite poor company culture as a reason for leaving their jobs (Source: Employee Engagement Survey, CIPD, 2023).

When leaders fail to hold toxic behaviour accountable, it sends a message that such conduct is acceptable. This creates a culture where good employees feel undervalued, leading to disengagement and high turnover rates. The repercussions of ignoring this reality can be dire, not just for employee morale, but also for client trust and the bottom line.

The Path Forward: Reaping the Rewards

So, what can be done? The good news is that it doesn’t have to be this way.

By actively choosing to foster a positive internal culture, firms are seeing transformative results. Emphasising accountability and compassion will lead to better retention rates and consistent positive behaviours across the board. Companies that invest in employee engagement strategies can see an increase in productivity of up to 21% (Source: Gallup, 2022).

Imagine a workplace filled with good vibes, where employees feel valued and engaged.

This isn’t just wishful thinking; it’s a tangible outcome of prioritising a healthy internal environment. The ripple effects include greater productivity, innovation, and ultimately, sustainable success in a highly competitive market.

Let’s commit to making our businesses places where positive, progressive and inclusive internal behaviour is the standard, not the exception. When we embrace this shift, we’re not just improving our companies; we’re fostering environments where everyone can thrive - employees, clients, and stakeholders alike.

Thank you for reading, and as always, I welcome your thoughts and experiences.

If you're ready to create an environment where talent thrives, innovation flourishes, and your team feels valued, let’s talk. By prioritising open communication, accountability, and employee well-being, you can build a culture that drives performance and sustainable growth. At FROM:TODAY we’re here to support you in creating the kind of workplace where both people and businesses can excel.

Get in touch to see how we can help you unlock your team’s full potential.

Any questions, you know where I am.

Jonny

  • Sources:

  • 1. Gallup. (2022). "State of the Global Workplace."

  • 2. McKinsey & Company. (2021). "The Importance of Internal Communication."

  • 3. CIPD. (2023). "Employee Engagement Survey."

By Jonny de Mallet Morgan 23.10.2024