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Feature: Defining Company Culture in the Financial Services

featuring HR Business Partner Shannon Curtis

For years the financial industry has been focusing on building wealth by designing corporate culture that value structure and formal rules to ensure legal compliance.

According to Lattice, the financial industry has been described as straight-laced, growth-focused, and hard-charging, however, over the last decade, banking has changed, moving from working in-person transactions to online banking and offering hybrid workforce.

In this competitive market, employees are now demanding more from their employers — they’re looking for flexible working arrangements.

40% of global candidates say colleagues and company culture is a top priority when picking a job, according to a LinkedIn 2022 Global Talent Trends report

As described by the Massachusetts Institute of Technology researchers, Company culture is the attitudes, behaviors, values, and norms that are “widely shared” and “strongly held” across an organization.

Culture in the workforce varies widely depending on the organization and its industry. Here are four main types of company culture that dominate the workplace, according to the Project Management Institute, a professional association for project managers.

  1. Clan Culture: Values teamwork and mentoring

  2. Adhocratic Culture: Encourages risk-taking and innovation

  3. Market Culture: Rewards productivity and market success

  4. Hierarchical Culture: Emphasizes stability and governance

A company's values and culture are no longer defined by only the employer. Today’s job candidates are also evaluating potential employers for their mission, values, and culture.

As an employer, here are three ways to define and demonstrate your company’s values and workplace culture to job candidates:

  • Storytelling

  • Marketing

  • Job Description

Shannon Curtis, a Human Resource business partner of ours gives out a very good piece of advice when it comes to job descriptions. Lead with information about the organization’s culture and diversity, equity, and inclusion (DEI) initiatives.

Click here to read the full article and discover how culture translates into performance and shift on the rise for the Financial Services industry.

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