Executive Overview - City Values Forum. PERFORMANCE WITH... · Performance with Integrity Executive Overview ‘ ... between corporate values and individual performance. ... and effort

Performance with IntegrityExecutive Overview

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Contents Page

Introduction 01

The Business Case 01

The Toolkit Content 02

Establishing a Culture Linking People and 03Performance Management to Values

The Performance Roadmap 03

The Values-driven Performance 04Management Programme

The Values-based Performance Cycle 04

The Gold Standard: Evaluation of Progress 05

Measuring the Effectiveness of the Values 06

Key Findings and Conclusion 06

Agenda for Change 07

References and Reading 07

The values-driven organisation in practice 08

The Gold Standard 10

The greatest challenges we face today are crisesof ethics. What are our moral values? How do wedecide what’s right and find the courage to do it?How do we display leadership with integrity?How do we nurture business and corporatecultures where doing the right thing becomespart of our organisational DNA? How do we builda fair and sustainable future for all?

Ethics is no longer optional, it is absolutely crucialto the sustainability and success of ourbusinesses, our public-sector services and everyother institution and enterprise.1

Professor Roger Steare, The Corporate Philospher

PERFORMANCE WITH INTEGRITY EXECUTIVE OVERVIEW

PERFORMANCE WITH INTEGRITY

IntroductionExtensive work is being undertaken within the financial services sector,and other industries, to re-direct or enhance organisational culturethrough embedding values and associated behaviours and linking theseto every element of people management.

This short guide provides an overview of a larger City HR toolkit entitled‘Performance with Integrity’ which specifically explores the linkagebetween corporate values and individual performance. It serves as anoversight document for the Board and Senior Management.

Developed by the City HR Association on behalf of the City Values Forum,the toolkit is one of a series of interventions which looks at how CityOrganisations can re-build trust with customers and employees as well asstakeholders in Government, the regulators and the broader business andsocial community.

Aimed at the Board from a strategic perspective, and functions such asHuman Resources from a development and management perspective, thetoolkit covers every facet of creating a values-driven culture and linkingthis to performance and reward.

It is recognised that many organisations have made significant in-roadson their journey in this respect, whilst others are just taking their firststeps. The toolkit has been structured in a way that provides a detailedoverview of every stage of the journey for those getting started whilstproviding a checklist and self-evaluation tool for those at a moreadvanced stage.

The business caseEach organisation will have its own reasons for creating a values-drivenculture. In light of the recent financial crisis, the majority of City organisationsrecognise that this is one way to restore trust with their customers and widerstakeholders. For many the key objectives will be to:-

� Create a sustainable business by negating losses incurred byindividual risk-taking, inappropriate advice and the loss of goodcustom;

� Manage people risk by building a succession pipeline of leaders andproducers who behave in accordance with the organisation ethos andwho understand their personal accountability for discharging theirresponsibilities;

� Operate within the rules and principles of the regulator, corporategovernance and standards set by professional bodies as well as withinthe law;

� Measure the effectiveness of individual performance and peoplemanagement policies against corporate values;

� Ensure that decisions behind individual progression and reward aretransparent, consistent and appropriately applied and understood bythe employee and wider stakeholders.

Above all, many just simply believe that it is the right thing to do for thecustomer, employee, shareholder and society as a whole.

01


The toolkit contentIn building this toolkit, City HR conducted structured interviews with 20financial institutions and 5 blue chip companies to research approachesto performance linked to values, many of whom provided case studieson the key features of their programme. Furthermore, benchmarking datawas provided by over 50 leading banks and asset management firms onthe existence of their values and behaviours; the style, process andcomponents of their performance management programme; and theextent to which this was linked to reward.

This research was supplemented by reference to a number of leadingfinancial sector reports including the Salz Review2, the ParliamentaryCommission on Banking Standards3, the Walker Report4 and theAssociation of British Insurers ‘Report on Board Effectiveness’5 all of whichproved essential reading on the role of leadership in creating the rightculture and addressing the issues arising from the financial services crisis.

These sources also provided many insights into the factors whichcontribute to a values-driven culture. In terms of a Performance withIntegrity programme, the key elements identified by City HR correlatedwith those of the FCA which are: the tone set from the top regardingvalues and behaviours; ensuring this is communicated and cascadedthroughout the organisation and promoted by the leadership; thenhaving the right performance and reward programmes to embed thedesired behaviours.6

To this end, two publications have been produced.

1. This short guide which looks at what the Board and SeniorManagement might like to consider and is the purpose of thispublication.

2. A larger toolkit which provides detailed guidance on how to facilitatepeople and performance management linked to values.

Both publications aim to help:

Those getting started:

� A message to the Board* as to why consideration should be given toa values-led enterprise in the overall business model;

� A Performance Roadmap on how to navigate the process;

� The Business Case for adopting such a programme;

� Guidance notes, templates, examples and case studies for thosestarting out*.

Those already on the journey:

� Benchmarking data on the philosophy and progress being made infinancial institutions as well as the style and key components of theirperformance management process*;

� The Agenda for Change: Critical Questions for Performance withIntegrity which is an overview of the questions that the Board and HRmight like to consider;

� The Gold Standard for Performance with Integrity.

*The items denoted above appear in the larger toolkit, available from [email protected]

02


Establishing a culture linking values to performance and reward

The toolkit provides guidance to assist senior management:

� To ‘take the temperature’ of their organisation in order to decide theextent to which the prevailing values: hold good; need to be redefined; orneed to be created from scratch.

� To communicate the values and associated behaviours to all employees ina way which is supportive and inspirational.

� To embed the values by identifying and training leaders who live thevalues.

� To provide leaders with the necessary tools by aligning all peoplemanagement policies to the values. Some of the existing peoplemanagement policies may need to be re-defined, particularly thoserelating to recruitment, induction, management training, performancemanagement, succession planning, career development and reward.

� To reinforce the values by developing mechanisms for addressing poorbehaviour as well as ways of encouraging employees to ‘speak up’ inincidences where values are being undermined.

Recommended reading and leading academic philosophies on organisationalculture are contained in the larger toolkit.

The Performance Roadmap: How to link performance to valuesThe Performance Roadmap illustrates a continuous cycle comprising fiveessential steps to linking performance to values.

Fig. 1 THE PERFORMANCE ROADMAP: LINKING PERFORMANCE TO VALUES

1. IDENTIFY VALUES- Visualise

- Consult and validate- Communicate

- Engage

2. LEAD & EMBED VALUES- Align culture and people

processes to values- Identify and develop values-driven leaders

4. MEASURE FOR VALUES- Assess performance on how

as well as what- Implement values-drivenprogression, reward and

recognition

3. SELECT FOR VALUES- Values as an employee offering- Assess appointments for skills

and cultural fit- Assist new hires in transition

- Induction and ongoing training

5. REINFORCEMENT- Ensure policies are values-driven

- Support supervisors- Protect whistle blowers- Act on poor behaviour

- Exit interviews

03

The values-driven performance management programme

The culture of an organisation is equally influenced by what it says anddoes as well as what it chooses to measure and reward. The performanceappraisal is the lynchpin in the formation of the psychological contractbetween the organisation and the employee.

It is essential, therefore, that the system reflects the organisation’s values.

The research undertaken indicates that organisations that are seriousabout being values-driven regard the performance management systemas an essential leadership tool. It is the means whereby the organisationevaluates and plans to make the most of its key asset - its people - andhas the following characteristics:

� The CEO initiates the annual appraisal process and takes an activeinterest in the performance management process and output. The CEOacts as a role model, by demonstrating the desired behaviours and,then invoking these as the appraiser of the executive team.

� The process of agreeing the year’s objectives is seen as a primarymeans of structuring each employee’s work to achieve maximumcontribution while creating opportunities for personal development.

� The challenges set for the employee at the beginning of the yearinclude opportunities to assess the degree to which the employeeadheres to the values by demonstrating the desired behaviours.

� The regular dialogue on performance throughout the year is seen as aprincipal means whereby team leaders fulfill their responsibility tocoach and guide individual team members.

� The appraisal process assesses both what was done and how it wasdone.

� The output of the process is seen as driving significant financialinvestment on the part of the organisation in terms of effective use ofthe compensation spend and other forms of recognition.

� The output of the appraisal process is a key contributor to theorganisation’s risk management process by driving decisions on theplacement of personnel in key roles and highlighting issues relating tothe availability of resources.

In a values-driven appraisal system, both the appraiser and the employeetreat the appraisal process with respect as a major part of their obligationto live the values. This means that they put in the necessary commitmentand effort to optimise the performance review process.

The values-driven performance cycle

As with all people management processes, the performance cycle andprocess will be determined by the business and the size and complexityof the organisation. The larger toolkit provides guidance and examples ofperformance management schemes from the most simple through to themore sophisticated.

PERFORMANCE WITH INTEGRITY 04


Lloyds Banking Group is one organisation which operates a values-drivenperformance cycle:

Evaluating progress against the Gold Standard

The Gold Standard has been developed to help organisations to monitorand evaluate their journey in becoming a values-driven business andensuring that this is upheld through the performance managementscheme and wider people processes.

To see how organisations are putting performance linked to values intopractice, excerpts from their case studies – contained in the larger toolkit- are presented on page 8 to 9 and referenced within the Gold Standard.

At Board level, the Gold Standard is provided for oversight purposes.However, at the management and operation levels the Gold Standard:-

i) Acts as a checklist for those who are embarking on the journey or

ii) Acts as a self-assessment tool for those who are advanced against theRoadmap.

For organisations seeking validation of their success in this field, a newaccreditation has been launched to recognise this achievement. To seethe full Gold Standard, please refer to pages 10 to 12.

At the endof the year

At the beginningof the year

Throughoutthe year

Throughoutthe year

At themid-year point

Regularly Discuss Performance

Dec Jan

Jul Jun

Nov Feb

Oct Mar

Sep Apr

Aug May

Mid Year Review

End of Year Review

Behaviours

Values

ObjectivesSet

Lloyds Banking GroupOverview of the Performance Framework Cycle

• Agree objectivesaligned to overallteam/dept/businessunit and Groupstrategy

• Agree effectivedevelopment plan

• Document inBalanced Scorecard

• Effective performanceconversations

• Review/updateobjectives anddevelopment plan

• Effective performanceconversations

• Review/updateobjectives anddevelopment plan

• Colleague self-input/Line Managerperformancecommentary

• Year End Review –focusing on ‘whats’and ‘hows’

• Final PerformanceRating

• Calibration sessions

• Colleague self-input/Line Manager performance commentary

• Mid Year Review – focusing on ‘whats’ and ‘hows’

• Indicative Performance Rating

• Calibration sessions

05


Measuring the effectiveness of the values

The view that “what gets measured gets done” is driving the increaseduse of HR and other organisational metrics. Each organisation will haveits own “must-have” suite of metrics. However, every other year, the CityHR Association conducts a market survey on every facet of peoplemanagement. The two graphs below show current trends in appraisalstyle and content within 44 financial institutions.

What type of performancemanagement or appraisalscheme do you operate?

Does your performance assessmentscheme include

Key findings and conclusion

The research for this Performance with Integrity Toolkit shows that thedegree to which an organisation succeeds in becoming values-drivendepends on a range of factors, including:-

� The commitment of the Board to creating a values-driven culture, andhow this resolve is communicated and embedded throughout theorganisation by senior management.

� Getting organisational culture right, through linking people andperformance management to values is “not only the right thing to do”but is essential for:i) the engagement, performance management, succession planning,

reward and recognition of employees;ii) restoring the trust of all stakeholders including customers and

investorsiii) providing a positive response to concerns expressed by the

Government, regulators, professional standards bodies and thepublic at large.

� The ability of the organisation to recruit and identify leaders who willlive the values and act as role models and in doing so, will create andassess the desired behaviours.

As an oversight tool for the Board and an operational guide formanagement, the key issues to be addressed in becoming a values-driven organisation are summarised in the ‘Agenda for Change – CriticalQuestions for Performance with Integrity’ which concludes thisExecutive Overview.

Management by objectives

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Balanced scorecard

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06


Identify Values

1. Are the values current and have they been reviewed by the Board in the last 24 months?2.Do they meet the expectations of all stakeholders?3.Are the values in line with the purpose of the organisation?4.Do the values have behaviours attached to them?5. Is it clear what behaviours are expected of leaders?

Understanding the culture

1. What information has been collated and analysed to understand the current culture andits alignment with the values?

2. Is the culture regularly measured to check on alignment?3.Are leaders selected, promoted and recognised for their values-driven behaviours?4.Do leaders demonstrate the values in everything they do?5.Are sanctions consistently applied for any employee who behaves in a way that is not

values-driven?6.Is performance defined as “what has been achieved and how” in terms of work

output and behaviour?7. Are suppliers and contractors expected to behave in accordance with the values?8.Have the Chairman and Board discussed the City Values Forum Governing Values guide?

Recruit, select and induct for values

1. Are external and internal appointments assessed against the organisation’s valuesand behaviours? Are external headhunters and agencies briefed on the values andbehaviours required of all staff? Do internal recruiters assess people in accordancewith these values and behaviours?

2.Are integrity testing techniques used in the selection process for internal and externalappointments as as part of succession planning?

3.Are all new hires (and contractors) inducted on the corporate values and expectedto behave accordingly?

Measure for Values

1. Are the values and resulting culture regularly reviewed and measured?2.Are misalignments actively managed?3. Is individual behaviour reviewed, assessed and rated in the performance

management process?4.Do the Audit/Compliance/People sub committees of the Board actively manage

culture and risk and monitor these through employee surveys, succession plans andother relevant sources?

5.Are metrics undertaken on the effectiveness of linking people and performancemanagement to values and are these reported to the Board or contained within theAnnual Report?

Reinforcement

1. Are all people processes regularly assessed for their alignment with the values?2.Does the Talent Management Programme attract, retain, develop and promote

employees who exhibit values-driven behaviour?3. Is reward allocated with reference to desired behaviours as well as financial contribution

delivered?4.Is the ‘speak up’ mechanism working effectively?5.Are exit interviews used to elicit insights into how the values and desired behaviours are

perceived and practiced?

AGENDA FOR CHANGE – CRITICAL QUESTIONS FOR PERFORMANCE WITH INTEGRITYSome questions that Boards, Senior Management, HR and their Advisors can consider inlinking people and performance management to values.

References: 1. Professor Roger Steare: Ethicability: (n) How to Decide What’s Right and Find the Courage to Do It (2013)2.Salz Review, An Independent Review of Barclays’ Business Practice (2013)3.Parliamentary Commission on Banking Standards (2013)4.Sir David Walker, A Review of Corporate Governance in UK Banks and Other Financial Industry Entities –

Final Recommendations (2009)5.Association of British Insurers, Report on Board Effectiveness (2012)6.Clive Adamson Speech, Financial Conduct Authority, www.fca.org.uk/news/regulation-professionalismspeech (2013).

07


The Values-Driven Organisation In Practice

RBC Capital MarketsThe RBC Values define our culture and whatwe stand for as a company. They arereflected in our behaviour and form thefoundation of how we build relationshipsand deliver value to all our stakeholders –clients, employees, shareholders, andcommunities. However, Values only come tolife when employees understand them,adopt them and live and breathe them.Many firms develop and publish a statementof values and expect employees to read andfollow them. At RBC, we have gone one stepfurther in embedding our Values throughthe formulation and communication of ourCode of Conduct. The employee’s firstexperience of the Code comes in the offerof employment pack. This includes adetailed explanation of the Code and acontractual commitment that the employeemust successfully complete the RBC Codeof Conduct test within 30 days of joining,and biennially thereafter. Prior to taking thetest, the employee attends an in-depthonline learning programme. This experienceis supplemented at the new employeeorientation session, which highlightsthe critical importance ofthe Code and RBCValues.

The John Lewis PartnershipThe Partnership recruits about 13,000employees (Partners) a year across itsdivisions and wanted to ensure thosewho were joining - what is a unique co-owned business - understood both theadvantages this brings and theresponsibilities. The Constitution states:The Partnership seeks to recruit onlythose who share its values and willcontribute to its success. In seniormanagement appointments thePartnership, for many years, hasconcentrated on selecting for values andbehaviours rather than merely technicalcompetence and it wished to extend thisemphasis to its online recruitment.Therefore in 2011 a project was initiatedto make candidates aware of thePartnership’s core values, and enableResourcing to identify those candidateswhose own values were least likely tomatch these. The Partnership workedwith consultancy SHL to deliver a tool

that was part of the on-lineapplication process.

Mitsubishi UFJ SecuritiesInternational

In early 2012, following an extensive client/employeeconsultation process, the MUSI identity was re-launched.Results of the research conducted as part of the brand

development programme, found our values to have been integral tothe success of the firm and in driving cultural change; however, a clear

vision for the future was considered necessary to ensure continued successin the firm's challenging and competitive marketplace. With this in mind, we

sought to further embed the values in the culture of the firm throughemployee education and awareness initiatives. Each value was

individually promoted internally via the following means: ManagementCommittee sponsorship; town halls; case studies; a microsite;workshops; and a photography competition. All of these were

reinforced by visual components, such as a new desktopscreensaver, to bring them to life and make them

more tangible for employees.

08


Direct Line GroupAhead of separation from RoyalBank of Scotland in 2011, Direct LineGroup recognised the uniqueopportunity afforded by launchingas a new corporate identity. Theywanted their employees to becomeand stay engaged through theprocess of separation, andrecognised that the most effectiveway of doing that was giving everyemployee the chance to be part ofco-creating the new culture of thebusiness. An employee engagementprogramme - ‘Best’ - was launched,facilitating a three-part series ofworkshops, led by employees, foremployees that everyone wasinvited to. The purpose of these wasto give everyone an opportunity tosay what they thought our new company should be, how it shouldfeel like to work here, and what needs to change to make that a reality.After the workshops, these conversations and suggestions werecontinued through a new online unmoderated forumcalled ‘Best Quest’. The input from all ofthese workshops was taken by anemployee working group, to distilldown into a final set of corporatevalues, which were thenpresented by the workinggroup to the Executive forapproval. When this wasagreed, the values werelaunched to greatsuccess in March 2012,and have since beenincorporated into key HRprocesses such asperformance managementand recruitment to ensurethe culture the employeeschose is reinforced andembedded in the organisation.

CitiDuring the financial crises, the leadership at Cititook steps to redefine its business strategy andcore values. These steps were later translatedinto several key initiatives aimed at aligning Citi’speople and culture with the new vision for theorganisation. To further embed the strategy, Citi’sPrinciples, and Leadership Standards, Citiinvested in engaging its global ManagingDirector (MD) population through two-day,interactive sessions called the Citi LeadershipForum. The purpose of these sessions was toengage key leaders and build alignment aroundthe direction of the organisation – its strategyand five execution priorities, known as the 5Cs. In2012, Citi ran 19 sessions that reached over 3,100MDs. The sessions were led by 46 of the mostsenior leaders in the organisation, including theCEO. Attendees of the program were providedwith a ‘cascade toolkit’ and expected to host ameeting with their teams to communicate keymessages from the sessions.

Standard Chartered BankAt Standard Chartered Bank our 5

values underpin who we are, so it isimportant we ensure our people are clear about

the way we do business and our commitment to ourclients and communities from the very start of our

relationship with them. To support this, our resourcing,talent and performance management processes are

designed to select, promote and reward people in line withour values. To make sure we apply this in practice, we track a

number of metrics on an annual basis that measure howembedded our values are across the group – for example,

how many employees have had a conversation withtheir manager about how they live the bank’s values.

And that there’s a correlation between thevalues rating given to each employee and

how they are rewarded.

09


THE GOLD STANDARD FOR

PERFORMANCE LINKED TO VALUES

THE ROADMAP:BY ACTIVITY

IDENTIFY THEVALUES

Visualise

Consult andValidate

Communicate

Engage

LEAD ANDEMBED THEVALUES

Embed thevalues

Realign theprevailingculture

Promote values-drivenleadership

SELECT FORVALUES

Values-drivenrecruitment

GOLD STANDARD:THE KEY ELEMENTS

n Values are seen by all as a set of guiding principles whichgovern what the organisation does and how it does it.

n The organisation’s current mission and strategy areclearly derived from the values.

n In every part of the organisation, the values aretranslated into required behaviours so that everybodyknows what good looks like and what is expected ofthem personally.

n The values and required behaviours are activelycommunicated within the organisation.

n The prevailing culture has been assessed for compliancewith the values, from the perspective of:

- senior management- all employees- risk management strategies

n People processes have been reviewed to ensurealignment with values

n A plan is in place to realign the prevailing culture overtime.

n Oversight of the development and delivery of the planresides with the senior executive.

n Employees’ understanding of and experience of thevalues in practice is assessed regularly by means ofemployee engagement surveys.

n For all leadership roles, responsibilities include arequirement to role model the values and to assistothers in living the values.

n All those in supervisory posts receive regular leadershipskills training, including how to act as a role model and todischarge their responsibilities regarding the values. TheCity Foundation Course: Leading with Integrity may assistin this respect (see back inside cover).

n All job descriptions set out the what and the howregarding the job – required behaviours are given similarprofile to required skills.

n Assessment of prospective new hires, or internalappointments, includes techniques for predictingbehaviour and cultural fit.

n All those involved in the assessment process are trainedin the organisation’s values, how the values pertain tothe role in question and in behaviour based assessmenttechniques.

EXEMPLIFIED BY:(See Large Toolkit for full

case study)

Direct Line Group

Royal Bank ofCanada

Citi

Mitsubishi UFJSecuritiesInternational

John LewisPartnership

10


Values-driveninduction andsupport

Values-drivencontinuingprofessionaldevelopment

ACTIVITYMEASURE THEVALUES

Values-drivenindividualperformancemanagement

n In recruitment literature, interviews etc, the values arepresented as a major part of the employee offering,engaging candidates who are attracted by the valuesand encouraging others to self select out of therecruitment process.

n The induction process is built around helping the newhire to adapt to the culture and to start living the values.

n A continuous improvement process is applied to therecruitment process:

- successful hires are asked to comment on how theorganisation’s approach to recruitment influencedtheir decision to join and the degree to which theorganisation supported them to succeed.

- at exit interviews, leavers are asked to comment ontheir experience of the organisation’s values,recruitment and induction processes and the extentto which people and performance policies arealigned and apparent throughout the organisation.

n An individual development plan is constructed toprovide the necessary training and continuingprofessional development to meet organisational andindustry standards.

n The appraisal process assesses performance with regardto delivery and required behaviours – what was doneand how it was done.

n The appraisal is evidence based, requiring the assessorto support their judgement with actual examples fromwork observed.

n The appraisal is multi perspective: the assessment ofperformance is informed by the views of others besides theimmediate supervisor e.g. internal clients, direct reports.

n The appraisal process is built around a dialoguebetween the supervisor and employee. The employeehas the opportunity to:- complete a self appraisal- sign off on the assessment of performance and to

comment in the event of a disagreement.

n The outcome of the appraisal process feeds directly intodecisions regarding an individual employee’s careerprogression and reward.

n The appraisal process is subject to review to ensureconsistency of application e.g. regarding rating scales.

n The appraisal process is seen as a key management tool,overseen by the senior executive with the advice of theHR function.

n The City Obligation may assist with starter’ documentation,induction and appraisals (see back inside cover).




case study)

Lloyds BankingGroup

Standard CharteredBank

11


Values-drivenprogression

Values-drivenreward

Vaues-drivenrecognition

Values specificreporting andmetrics

REINFORCEMENTOF VALUES

Values-drivencorrective action

ACCREDITATION

n In determining an individual employee’s capacity forcareer progression, weight is given to the degree towhich the employee lives the values as well as totechnical and commercial skills.

n Employees understand that adherence to the values is aprerequisite for career progression.

n The organisation’s reward system recognises deliveryacross a range of criteria which includes the degree towhich the employee upholds the values and assistsothers to do so.

n The role of adherence to values in determining reward isknown and understood by employees.

n Reward mechanisms e.g. incentive schemes areregularly reviewed to ensure that they continue tosupport the values and promote required behaviours.

n Employees are recognised via promotion, employeeaward schemes and other non cash incentives for theirability to demonstrate the right behaviours.

n The organisation measures the effectiveness of itsvalues-led strategy, cultural change programmes andpeople processes against employee and customersurveys, internal HR metrics and external people policiesbenchmarking.

n The organisation’s codes of conduct and supportingpolicies support the values and clearly set out requiredbehaviours.

n Where applicable, the organisation requires employeesto act in accordance with codes of conduct relating toprofessional bodies.

n All employees know what is expected of them.

n Supervisors are trained and supported in taking difficultdecisions regarding failure to adhere to the values andrequired behaviours.

n Disciplinary action and further possible sanctions will beinvoked for those whose behaviours fall short of theorganisation’s stated values.

n Employees who ‘speak up’ about behaviours whichthreaten the values are supported and protected.

n Those organisations wishing to seek accreditation oftheir Performance Linked to Values Programme shouldcontact [email protected]. Details will will include howthis can be recognised by City HR and accredited by theInstitute of Leadership & Management.




case study)

12

PERFORMANCE WITH INTEGRITY 13

OTHER PUBLICATIONS AND PROGRAMMES IN THIS SERIESn Governing Valuesn The City Foundation Course ‘Leading with Integrity’n Performance with Integrityn The City Obligationn Integrity ResourcesFor more details please visit www.cityvaluesforum.org.uk

THE CITY VALUES FORUM EXECUTIVE

n Richard Sermon MBE, Chairmann Simon Culhane – Chartered Institute for Securities and Investmentn Andrea Eccles – City HR Association n Charles Elvin - Institute of Leadership & Managementn Richard Finn – Worshipful Company of Management Consultantsn Philippa Foster Back OBE – Institute for Business Ethicsn Rebecca Greeves – TheCityUKn Andrew Hall – Chartered Institute for Securities and Investmentn Martin Hall – Worshipful Company of International Bankersn Oonagh Harpur – Tomorrow’s Companyn Venetia Howes – Worshipful Company of Marketorsn Christina Makris – Cass Business Schooln Tony Manwaring – Tomorrow’s Companyn Patrick McHugh – Worshipful Company of Management Consultantsn Robert Potter – Jardine Lloyd Thompson & City HR Associationn Lady Susan Rice – Lloyds Banking Groupn Edward Sankey – Worshipful Company of Management Consultantsn Marcus Scott – TheCityUKn Charles Wookey – Catholic Bishops’ Conference of England and Wales

APPRECIATION FOR CASE STUDIES

n Lesley Wilkinson and Raf Lopez, Citin Carla Jeffery, Direct Line Groupn Laura Whyte, John Lewis Partnershipn Paul Hucknall, Lloyds Banking Groupn Sarah Cawthra and Steve Preston, Mitsubishi UFJ Securities

International Plcn Gareth Hughes, RBC Capital Marketsn Louise Batchelor, Standard Chartered Bankn Professor Roger Steare, Corporate Philosopher in Residence at

Cass Business SchoolAbove all, appreciation is extended to the academics, professionalbody representatives, management consultants and HR directors whoprovided expert insight to this publication and who are listed in full inthe larger toolkit. Also to Anoushka Roberts at the Institute ofLeadership & Management.

ABOUT THE CITY HR ASSOCIATIONThe City HR Association is the professional body for over 170 financialinstitutions and City firms on human resource matters relating toconsultation, best practice, training and benchmarking.

INVESTING IN INTEGRITY

The Lord Mayor’s Conference on Trust and Values

Organised by the City Values Forum

October 2012

City HR Association, Providian House, 16-18 Monument Street, EC3R 8AJ

Telephone: 0207 670 1932/4

E-mail: [email protected]

www.cityhr.co.uk

The City Values Forum was established in 2011 todeliver the recommendations of the Lord Mayor’sInitiative 2010/11 aimed at restoring trust in the City.

This guide provides an Executive Overview of thePerformance with Integrity Toolkit. Co-authored byAndrea Eccles, Elizabeth Newton and Helen Shaw, thetoolkit provides practical guidance on how to enhanceorganisational effectiveness through the linkage ofperformance and reward to corporate values.

The guidance includes intellectual capital, tools andcase studies derived from the experience of financialinstitutions and blue chip companies which have madethe journey to becoming values-driven.

The toolkit culminates with the Gold Standard whichserves as both a comprehensive checklist and selfassessment tool for use by any financial institution,irrespective of size or sector.

© Copyright City HR 2013

Documents

Executive Overview - City Values Forum. PERFORMANCE WITH... · Performance with Integrity Executive Overview ‘ ... between corporate values and individual performance. ... and effort