Values in finance
This article was written by Hilary Viney, FSCB, and Dr Rebecca Park and Dr Edward Brooks, OCP. A strong sense of collective purpose is central to the motivation and collaboration that supports...
Read more
A strong sense of collective purpose is central to the motivation and collaboration that supports an innovative, problem-solving and productive business, to the benefit of customers, clients and society at large.
Shared purpose sat at the centre of the FSCB Assessment Framework and was examined annually with two core Survey questions asking whether employees find their firm’s purpose and values meaningful (Q35)and if they see any conflicts between their firm’s stated values and how business is done in practice (Q36). Different facets of Shared Purpose have also been investigated over the years with additional questions and qualitative assessments (focus groups and interviews).
Using a combination of quantitative, qualitative and experimental methods, the FSCB aimed to help firms to instil a genuine sense of purpose in employees across different business areas, seniority levels and roles. The goal was to help every employee in UK banking to understand how their roles contributed to the organisational purpose and how purpose they can use purpose to guide decisions at work on a daily basis.
FSCB Purpose Maturity Journey
This article was written by Carol Franceschini and Jenny Robinson, Senior Behavioural Scientists, FSCB Insights ‘How can we help our employees, teams and the whole organisation to be genuinely purpose-led?’ This question...
Read moreThe purpose of work: intrinsic motivations in banking
This essay was written by BSB Senior Behavioural Scientist Carol Franceschini and was originally published the FCA Discussion Paper on driving purposeful cultures. A consistent body of research from behavioural economics and psychology suggests that employees...
Read moreTim Bowen – Penrith Building Society CEO on culture and leadership
This article is being published from the BSB by a guest writer, Penrith Building Society CEO Tim Bowen. When I became CEO of Penrith Building Society in 2018 creating the right...
Read moreBSB, FRBNY and LSE: Working together; an interdisciplinary approach to organisational culture
On 14 January 2020, the BSB, Federal Reserve Bank of New York (FRBNY) and London School of Economics (LSE) held a seminar exploring the role of behavioural science in improving organisational culture within...
Read moreCulture is king by Saker Nusseibeh, CEO, Hermes Investment Management
This article is being published from the BSB by a guest writer, Hermes Investment Management CEO Saker Nusseibeh. As I reflect on the extraordinary decade we have just experienced, what stands out...
Read more
I’m proud of the transformation by RBS CEO Ross McEwan
This article is being published from the BSB by a guest writer, RBS CEO Ross McEwan. When I became CEO of RBS in October 2013 there was intense public, media and regulatory...
Read moreBSB publishes BSB Consumer Framework: What do good banking outcomes look like to consumers?
The Banking Standards Board (BSB) has today published the BSB Consumer Framework. The BSB was established to help raise standards of behaviour and competence in the banking sector for the benefit of...
Read more