Creating an 18-month cultural roadmap – merging psychology with compliance

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Capability

Culture & Analysis

Industry

Financial Services

The Padda & Feel Good partnership brought a unique combination of skills. They challenged our thinking, helping us identify strengths & areas for improvement in our organisation’s culture. Their insights & support have been invaluable as we have shaped our cultural roadmap for the next 12-18 months.

The workplace environment and corporate culture is important for everyone.

Culture, good and bad, impacts the wellbeing of individuals and is recognised by the FCA as one of the key contributors to adverse client outcomes. It has been a core focus for somewhile but there had been a notable increase in enforcement activity and significantly higher fines being imposed when action is taken.

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The challenge

As the world started to return to work after Covid our client wanted to assess the impact working remotely had on leaders, employees and their bond with the company. In part, this was to meet their regulatory obligations but equally important was to understand the psychological and behavioural barriers in returning to work and ensuring best working practices. This valuable piece of work enabled them to take a strategic approach to protect and support the health and wellbeing of their people.

An additional consideration was the need to recruit and retain the best available talent in order to safeguard their position as an industry leader and a company that places real importance on building a business with a culture where people can thrive.

As a trusted partner to Lloyds of London, Feel Good and our Regulatory Partners, Padda Consulting, were approached to conduct a deep dive into their culture, practices, systems and structure.

On one side, they wanted to demonstrate they meet latest culture standards and Lloyd’s Culture maturity checklist. On the other, recognising people are looking for workplaces that not only offer them a place of work but one where there is a culture of psychological safety, wellbeing and support.

 

designing your ideal culture starts with data.

 

The solution: A data backed, 18-month cultural roadmap, providing an overview of strengths and weaknesses, and practical insights highlighting the challenges and human behaviours impacting culture.
The solution

This unique partnership provided the client with a data backed, 18-month cultural roadmap, providing an overview of strengths and weaknesses, practical insights with a clearly defined traffic light system highlighting the challenges and human behaviours impacting culture to be addressed in the short and medium term, providing a pathway to support the company step-by-step to reach their goals.

As trained business psychologists with expertise in assessing and improving organisational cultures, we helped them understand how their culture lives and breathes and the current forces that shape it. We identified the obstacles and barriers to healthy performance and provided practical solutions to support and deliver upon employee frustrations whilst safeguarding and meeting the expectations of the FCA.

The roadmap was prepared based on the following process:

  1. An audit of existing systems, policies and structures
  2. Bespoke internal (companywide) and external (clients and suppliers) surveys plus examining existing surveys such as the Lloyds survey
  3. Anonymous individual interviews to highlight the lived experience of people in the organisation
  4. Focus groups across the organisation

Themes included in the roadmap were: leadership; vision & strategy; transition & acquisition; diversity, equity, & inclusion; blame & recognition; wellbeing; working practices; collaboration; decision making.

The result: The feedback we have received is that the roadmap helped them easily understand key areas they should prioritise, better understand the mindsets of their people, and help them map out practical steps moving forward.

“The Padda & Feel Good partnership brought a unique combination of skills. They challenged our thinking, helping us identify strengths & areas for improvement in our organisation’s culture. Their insights & support have been invaluable as we have shaped our cultural roadmap for the next 12-18 months.” HR Director, Financial Services – July 2022.

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