OUR CULTURE STORY | AUTUMN 2019 34
CAN’T KEEP OUR EYES OFF U: HOWWE MONITOR CULTURE CHAPTER THIRTEEN
With so many variables at play, measuring ‘culture’ with a hard metric isn’t something that we think can be done with certainty or accuracy. There isn’t one ‘killer KPI’. However, we do measure certain behaviours that will provide us with a temperature check on how our culture is helping us succeed; for example engagement levels, how proud our people are to work at BDO and feedback from our clients.
“Measuring culture is complex and sometimes subjective. However, the starting point are the Values and whether these are realised in the actual behaviour of the staff and the firm as a whole. A challenge to understanding culture is the problem of gathering data – often from a few sources. BDO is working to overcome this issue by seeking the direct observations of its staff from each part of the BDO structure, through surveys and also from the simple but powerful act of listening. “The BDO aspiration is to establish a culture which values its staff and encourages the sharing of ideas as a source of growth and future services that will provide value to their clients, and for staff the motivation – and ultimately the satisfaction – of supporting colleagues and doing an exceptional job for its clients. BDO’s next phase of cultural development – to respond to a changing environment – is already being considered. “Much can be learned about an relationships with clients or customers, what it reflects in its values, how it treats employees and how it reacts to negative events. And this report documents the achievements and future challenges. I had the opportunity to read this report in an earlier form and I believe it accurately reflects the culture of BDO that I have witnessed.” organisation’s culture by examining its attitude towards governance, its
But culture is less tangible than traditional internal audit areas, and is more subjective. Culture is mainly driven from the top, whether consciously or unconsciously. Some companies will review their culture by looking at how they define, promote and evaluate their culture. Other companies will need to carry out a detailed gap analysis to bring its Stated, Measured and Actual cultures into alignment.”
THE U BOARDVIEW Chris Grove , Chair of our U Board, added: “Many of us are accountants
THE ACADEMICVIEW
– so we like numbers. And we’re ambitious – so we like numbers to aim for! But the ‘softer’ ways of monitoring culture are critical for us. We pay a lot of attention to BDO programmes such as our anonymous employee engagement survey – which we call our Listening Programme – our performance review discussions, our whistleblowing policies and our firm-wide feedback loop from our local U Leaders. Those measures hold most substance for us. “As part of our long-term strategic journey, we have chosen a KPI of ‘pride’ to check we’re on the right track: how proud do our people feel to work for BDO? In our first year, our employee engagement survey said that all our people feel proud of BDO 75% of the time. External experts tell us this is good – everyone is spending six hours of their working day, every day, feeling proud of the firm. And, importantly, that figure has gone up in the last 12 months. We think ‘pride’ is a driver to do even greater things, as it unlocks confidence, engagement, loyalty and ambition.”
We asked an external expert for their view on this challenging topic. Professor Harminder Singh , Lecturer of Change and Strategy at Warwick Business
School, says: “When a company looks to ‘audit’ its corporate culture, it wants to check two factors: the appropriateness of their cultural framework and that the behavioural rules and norms run right through the business. It’s a challenge: culture is ambiguous. Subjective. Owned by everyone but singularly no-one, however understood by all as ‘the way we do things around here’. “A strong culture can be transmitted through: encouraging two-way conversations and ‘listening’ more than pronouncements from the top; a collaborative approach to decision-making where each person is valued; and recognition that team-based effort is key to getting the work done. “Culture is the way the values and associated mindsets are transmitted. This is where stories are key, as they help to unify understanding of ‘how we do things’. The stories make real the values that have clearly been set out in this report.
THE INTERNAL AUDIT VIEW RichardWeighell is a BDO Partner, specialising in Internal
Audit within the financial services sector. He has run many ‘culture’ audits for banks, asset managers and corporates. He believes: “Culture can have an impact on the effectiveness of policies and behaviours, and is recognised as a key driver of conduct.
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