The US Federal Deposit Insurance Corporation (FDIC) is currently in a world of hurt, dealing with allegations of misogyny and a toxic culture. When this happens to an organisation, the negative impact on talent retention, strategic focus and basic business functioning is severe. Productive activity comes to a standstill.
In today's issue of the Financial Times' Banking Risk and Regulation, here’s what to do if it happens to you - and how to avoid getting into such a situation in the first place.
1. Bring in the right people to ask the right questions
2. Be prepared to listen and act upon the outcomes
3. Optics matter — who is best positioned to lead an inquiry into the facts?
4. What you tolerate is what you are deemed to accept
5. Beware the ‘informal’ route — investigate matters promptly, thoroughly and fairly
6. Create the conditions that nurture healthy workplaces and root out nasty behavior
Thanks Jennifer Geary for outlining these best practices steps, and including insights from me and my colleague, Kristy Grant-Hart. If you proactively manage a healthy workplace culture, it's unlikely headlines like this will ever happen on your watch.
Read the full article here, at Financial Times' Banking Risk and Regulation online.
For access to the PDF, click below: