It’s no longer a “nice-to-have” to have a good workplace culture. A new Grant Thornton survey among Chief Financial Offices of technology companies in the UK has made this clear. These are not the people who you might expect to champion the importance soft skills and relationships.
Money is the main reason for this culture support. CFOs argue that wages can’t continue to rise (especially when you consider the National Insurance bill), so offering an enjoyable workplace is a viable alternative. People will want to work with you not only for the money. Culture has now become a currency in and of itself. This is especially true given the growing awareness of the importance of flexible working, hybrid working, and mental health support.
CFOs support a variety of initiatives. The creative agency Ogilvy has introduced weekly workshops to reduce stress and anxiety using methods like meditation, yoga and breathing exercises. The digital media company Komi Group invested in renovating its offices to make them feel like home. They have a living room with Netflix, quiet areas, and a fully-stocked kitchen. Moneypenny’s customer-call answering services has focused on instilling a sense purpose and mission within its employees. This has included programmes of events related to charity fundraising, a “net-zero Masterclass”, a “planet awareness day”, and the setting up of beehives in one office as a means of supporting biodiversity.
All of these initiatives are well-intentioned and attractive, but would they improve the working culture if they were implemented? This approach seems to be addressing only the symptoms of toxic or poor cultures, and not their underlying causes. The differences between bad and good cultures can be attributed to different issues or problems.
They know their employer is looking out for their interests, no matter what level they are at. Everyone works together to achieve some common goals. It’s important that employees know they can come to an agreement with their employer if there is a conflict. It’s a mature, reasonable way. If you act fairly and honestly, everyone will be able to move on without any resentment.
We call it a Clear Air Culture. This is made possible by a combination good informal processes – regular use of mediators at the early stages as well as initiatives like neutral assessment and developing psychological safety within teams – backed up with an attention to soft skills : people management skills and conversation skills. It’s the ability of line managers and employees to deal with disagreements, grievances, awkward situations and handle them professionally in order to defuse conflict and maintain the important feelings of trust within the organization.
Instead of focusing on the surface of an employer’s brand (how do we attract people and not rely on salaries packages), CFOs should think about the true value of good work.
