The Evolution of Culture and Engagement in the Workplace

ChapmanCG hosted a lively roundtable in Singapore at Bank of America Merrill Lynch (BAML), which was attended by a host of regional HR leaders from DaVita, ED&F Man, JF Hillebrand, Microsoft, Monsanto, Morgan Stanley, RedMart, Schneider Electric, Standard Chartered Bank and Syngenta. The discussion centred on managing cultural change, in the context of the workplace of the future. There were a number of threads explored within this theme, and it was agreed that managing change effectively is critical if organisations are to get the right culture and levels of engagement within a workforce that is constantly evolving.

The Cultural Effect of Increased Financial Regulation

In a banking context, the changes that have resulted from increased regulation have had a significant impact on business strategy, but have also created an opportunity to ‘get the house in order’ internally. From a compensation perspective, banks are now able to put greater emphasis on conduct, rewarding employees for good behaviour, in addition to the more traditionally structured bonuses based on financial performance. Financial companies can indicate their priorities by putting more emphasis on the former when selecting employees for promotion who will become future leaders. BAML has given culture a big push, particularly at the leadership level, with extensive workshops encouraging leadership to drive behavioural changes, and this permeates through all levels of the organisation.

Create an Inclusive Environment and Diversity will Follow

From a diversity perspective, banks are embracing Diversity & Inclusion as a way to further engage employees going forward. BAML have established LBGT networks, corporate community games, bring your children to work days and even elderly care workshops for employees. The company has also implemented initiatives at the Executive Committee level that are tailored to high potential females, and which aim to counter the skewed gender balance within the senior echelons of the organisation. BAML has also hosted a bespoke APAC women’s convention, where male spouses were actively invited, in order to embrace an openness and inclusivity around celebrating women in the workplace. Whilst these initiatives are not revolutionary, increased regulation has forced the banks to look internally and embrace employee engagement and culture, which are now both important ways to retain a workforce that traditionally has been more motivated by compensation. These increasingly responsible, inclusive and open cultures have been slowly permeating the larger financial organisations, but there is still a long way to go.

The Gamification of Leadership

Engaging leadership is critical when it comes to changing corporate culture. Norbert Modla of JF Hillebrand shared an innovative case study on using gamification to engage and develop leadership. JFH wanted to create a programme that encouraged ‘play at work’ but it needed to have a ‘play seriously’ dynamic. The idea was to create a ‘vibe’ which would touch all leaders across all functions. This ‘vibe’ was fostered through a 12-week simulation game, which could be accessed on mobiles and tablets. Senior management employees were given management scenarios in the game, for which they had to find solutions. They were given access to virtual coaches along the way, as well as being scored and assessed on their performance throughout the game. This programme created a real buzz along with a healthy element of competition and dialogue amongst the leadership. It also allowed internal assessment, which in some cases highlighted areas for further development and coaching.