CCR2 Conduct Risk
measure success, a structured communication and management strategy is vital. It is not possible to give a fair or accurate
The FCA requirement to ensure that the customer is at the heart of every transaction has ensured that these factors are no longer a consideration when creating objectives, and a focus on a fair customer outcome alone drives the creation of all cultures and values
What does ‘good’ look like? For Ascent, our vision of ‘leading the way by the doing the right thing, always’ is central to our business, and it was very important for us to reflect that in our own vision and values. Our values have strengthened our culture
and workplace (see Figure 2): l To be pioneering with an imaginative outlook. l To be approachable and caring. l To be tenacious in the pursuit of our objectives. l To be efficient in the provision of our services. lWith a foundation of integrity. We believe that a great workplace is one
built on trust; and trust drives sustainable engagement, which then, in turn, delivers performance. At Ascent, we recognised that the Great
Place to Work Scheme allowed us to bring our values to life and helped us to understand what ‘good’ looks like. Each year, our staff are independently surveyed and the outputs from this activity provide us with key performance indicators of the culture within our organisation. This also provides us with an annual benchmark, from which we continually seek to improve our culture, based on structured feedback from colleagues at all levels.
Driving desired behaviours So how do we know if our values are driving the desired behaviours? Creating the values, and a framework on which to deliver them, is a natural starting point. But, in order to
January 2018
www.CCRMagazine.co.uk
assessment of an individual’s performance, against both objectives and behavioural expectations, based only on yearly and half-yearly appraisals. Ascent have created a structured approach
to ensure that all our colleagues are meeting their objectives, which are aligned to the business values, by undertaking monthly one-to-one reviews and a monthly review of behaviours, aligned to the culture of our business. The aggregation of this data on a monthly
basis, provides the basis for a much more systematic and evidential review of performance, which feeds into our annual incentive scheme. Not so very long ago, businesses in our
sector created agent targets around cash collections, average call-handling times, and wrap times. The FCA requirement to ensure that the customer is at the heart of every transaction has ensured that these factors are no longer a consideration when creating objectives, and a focus on a fair customer outcome alone drives the creation of all cultures and values. Our commitment to instilling trust in our
colleagues, and encouraging open and regular communicative engagement, supports the theory of an FCA senior advisor who has stated that there are four drivers of behaviour, and all four must be aligned, if the behaviour is to deliver the purpose of the organisation: l Trust and trustworthiness. l Communications. l Decision-making. l Incentives – financial and non-financial.
Our values translate to well-thought-out objectives, which have a practical meaning, and they are driven by a series of our behaviours, which, when combined, drive value through our business to our customers, to deliver our business objectives. The Ascent culture is embedded in our
everyday operational behaviours and our vision to ‘Do the Right Thing’ engages staff on the importance of delivering the right outcomes (see Figure 1).
Conclusion Our team members are now highly engaged and we have visibility of employees who ‘go the extra mile’ and ‘go above and beyond’ for their customers. A recognition scheme on our intranet site allows for all employees to openly recognise team players who demonstrate this, as well as willingly helping others, even when this falls outside of their own role profile. We produce regular communications
Figure 2: Core values
for colleagues, encouraging feedback and contribution, and we hold monthly ‘town hall meetings’ in our offices, delivered by our chief executive to directly engage with colleagues on a regular basis. Customers can also contribute to the
feedback loop on our values via the Trustpilot platform, which underlines that our activities are underpinned with integrity and with a primary focus of treating the customer fairly. Customer experience has taken precedent
over all other metrics in the conduct-risk world, and we are very happy to support this. CCR2
29
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52