Context
The FCA has released an article in its Insight newsletter which explores the concept of measuring culture. The article provides an interesting take on how the FCA views culture within firms.
Key points to note
- Culture can be measured and assessed through qualitative and quantitative means.
- Quantitative assessments are more likely to focus on the surface issues whereas qualitative assessments will focus on systemic and strategic issues.
- An example is a firm rolling out anti bullying training without following up with an investigation as to whether the training was effective and what further measures are needed to fix any underlying cultural issues.
- Better to undertake “assessment not measurement” i.e., undertake qualitative assessments to fully understand and rectify any underlying cultural issues rather than issue training without fully understanding why it is needed or if, indeed, it is working.
Next actions
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