This post is another contribution to thinking about organizational culture in preparation for the Complexity and Management Conference due to be held 7-9th June this year, 2014, which will be dedicated to this theme.
The Christmas period provided a very good example of the dominant thinking about organisational culture change, which I wrote about earlier in a previous post on this blog here. The new CEO of Barclays Bank, Anthony Jenkins was the guest editor for BBC Radio 4’s flagship news programme, Today, and he used the opportunity to draw attention to ethics, leadership and organisational transformation. You can find some of the clips from the programme here.
The banking world in general and Barclays in particular have been rocked by a number of scandals, including mis-selling of financial products and the manipulation of the inter-bank lending rate, LIBOR. Jenkins sees his task as rebuilding the bank and restoring public trust by ‘transforming the culture’ of the bank away from short-termism and a narrow definition of maximising shareholder value which he feels has predominated over the last 30 years, towards an understanding the banks serve society at large.
To achieve this Jenkins has started a review of all the bank’s activities and has set alongside it an organisational change programme called Transform. The Transform programme sets out what Jenkins describes as five core values: respect, integrity, service, excellence and stewardship. All of these are to be ‘embedded’ in the organisations and measured episodically with numerical scores to give a reading of the bank’s progress towards operating differently. To give a token of his seriousness, Jenkins argues that he and his colleagues have developed a set of ‘explicit behaviours’ which staff have to exhibit in order to demonstrate the values. They will be recruited, promoted and developed according to these standards. According to Jenkins this change in culture will take up to ten years. Continue reading