Culture

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  • 20 Jul 2016

    Social Learning – The Forgotten Part of 70:20:10?

    The concept of 70:20:10 learning has been with us since 1996. Organisations continue an apparently inexorable march towards the considered perfect balance between Learning in a Workplace Environment (the 70), Social Learning (the 20) and Formal Learning (the 10) that traditionally provided the structure that drove organisational learning & development. AS THE POWER OF THE 10 FADES ... As the power of the 10 fades and more focus in placed on the 70, it is often the middle 20 of Social Learning that is forgotten. Ever since Bandura initially suggested that “Most human behaviour is learned observationally through modelling: from observing others, one forms an idea of how new behaviours are performed, and on later occasions this coded information serves as a guide for action”, L&D departments have sought to harness this concept for their own powerful gain.
  • 20 Jul 2016

    The (Re)emergence Of The Workplace Coach

    Many Financial Services organisations are developing learning solutions that are shifting the emphasis from ‘trainer-led’ to ‘learner-led’ blended interventions The drive towards learner-led solutions continues to gain momentum: companies being motivated by budget savings and learners motivated by flexible access to the learning curriculum - a ‘win win’ situation! The desire to embrace digital technologies and access the wealth of online learning resources is high on everyone’s agenda. Beyond the work environment we all continually learn in what the Open University calls ‘Incidental’ learning.
  • 20 Jul 2016

    Trust DSW To Help You Rebuild Trust

    We’re almost nine years on from the financial crisis of 2007, yet consumer surveys consistently reveal that the UK financial services industry remains one of the least trusted sectors. The reputational damage suffered as a result of this crisis being exacerbated by widespread revelations of gross malpractice across the sector. FOR SIXTEEN YEARS Edelman’s Trust Barometer has tracked the levels of consumer trust across 27 different countries around the world. The 2015 results highlight that only 36% of UK consumers have trust in financial services, placing the UK 19th out of the 27 countries surveyed. This means that two out of every three people surveyed do not trust the industry; an alarming statistic which tells us that consumers believe financial services organisations have not changed despite many protestations to the contrary.
  • 15 Apr 2016

    FAMR: Report is Out

    In a nutshell the FCA report seeks to address three main concerns as this extract details: 1. AFFORDABILITY We believe that the RDR has brought about a positive step change in the quality of advice available to those with larger amounts to invest. However, steps need to be taken to make the provision of advice and guidance to the mass market more cost-effective. We make a number of recommendations intended to allow firms to develop more streamlined services and engage with customers in a more effective way. These include a proposal that the FCA should set up a dedicated team to help firms developing mass-market automated advice models to bring these to market more quickly, and that HMT should consult on amending the definition of regulated advice.
  • 04 Feb 2016

    Financial Advice Market Review: Is this RDR 2?

    SO WHAT DID WE CONCLUDE? We are convinced that financial advice is needed by the mass affluent, and even those with more simple financial needs, though more cost effective methods of distribution and advising must be designed and implemented. The FCA will publish their output from the review in the spring and will pave the way for the re-introduction of simplified advice methods, complemented by ‘roboadvice’, where technology will play an increasingly important role in the advice process.
  • 15 Dec 2015

    Defining Conduct Risk

    WHAT IS CONDUCT RISK? Since the FCA took over supervision of the consumer finance sector from the OFT and published its Risk Outlook in 2013 - Conduct Risk has rapidly become the new buzzword and a constant talking point for Regulators & industry leaders - with many businesses frantically trying to implement change programmes to make sure an appropriate culture is embedded in their businesses. The cause of much concern is - does anyone really understand it? In fact the FCA make a point of not defining it – the view seems to be that the firm itself should define the concept according to how it affects them. This leaves many firms with a dilemma of introducing appropriate principals of Conduct Risk across multi roles and business sectors.
  • 01 Dec 2015

    Conduct Risk: Top Tips

    Embed The Right Culture Promote a culture of prevention and detection Encourage people to ‘speak-up’ without fear of consequences Move away from traditional sales led bonussystems and look at ethical and customer focused rewards Use training to embed the culture deep within the organisation (top to bottom) Empower Staff To Provide The Right Customer Solutions Ensure training is focused on treating customers fairly Give your staff the necessary supporting aids e.g. product information sheets Embed conduct risk considerations into any new product launches and throughout its lifecycle
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