Stella Chandler, Director of Focal Point Training which partnered with the CISI on the survey said ‘Banter can bring barriers down in teams but as soon as it crosses the line, barriers go up. This can have a damaging and long-lasting effect on teams and individuals. Those who responded to CISI’s survey described this type of banter as: being rude but saying it as if it is friendly. It can be harmless fun but is often used as excuse to cover up bullying and singling people out.’ She continued ‘Respondents were able to share their personal feedback about banter anonymously, showing…their often painful experiences. Additionally, the survey shows that unfortunately HR departments or cultures within Financial Services businesses are not giving people the confidence to speak up.’
Samar Yanni, Assistant Director, Head of Membership of the CISI commented ‘There is a fine line to be drawn with banter, as it can be a positive role in creating a sense of camaraderie in teams. However, jokes at someone else’s expense can be uncomfortable and escalate. Managers therefore need to be vigilant and teams, from the top down, must be seen to have zero tolerance of inappropriate banter.’.Now, some of you may think, well…we all take part in a highly pressured industry, one where banter has been a central part of letting off steam and creating a team core bond for decades. We have indeed seen modification to behaviour over the years as our industry has changed. Personally, I think you would have a point. Things have changed from when I started back in the early 1980’s.
Additionally, a bias may skew the data, with those most subject to the negative experience of banter responding more readily to the survey. All these are fair points. However, we should not look upon ourselves in financial services as unique… not by a long way.
Christine Porath, professor and ma n a g eme n t
re searc h e r a t
Georgetown University’s McDonough School of Business, launched a survey about 4 years ago on the effects of incivility in business on performance and the bottom line for companies. A not exact parallel to the CISI survey… but one that shows interesting comparisons. The survey asked questions of business school alumni in not just the financial services but in all sorts of organisations. They asked for a few words on one experience of incivility…and their reactions. Of those that responded to the survey…
• 66% cut back work efforts.
• 80% lost time worrying about what happened.
• 12% left their jobs.
The percentages seen here due to incivility, specifically in cutting back work efforts, compared to those in the CISI survey contributing less in meetings, by putting forward fewer ideas and the stifling of creativity in financial services are interesting to compare.
BANTER CAN BRING BARRIERS DOWN IN TEAMS…BUT AS SOON AS IT CROSSES THE LINE, BARRIERS GO UP.’
Perhaps the most interesting part of Professor Porath’s findings, was the fallout from incivility. In another survey of a small group, she found that those who saw or heard incivility, so not those directly involved in any discourse…but the witnesses, they had a 25% drop in performance and a 45% drop in ideas. She summed up the effect of incivility ‘Incivility is a bug! It is contagious and we become carriers by just being around it.’.
Eddie Tofpik E:
eddie.tofpik@
admisi.com T: +44(0) 20 7716 8201
Eddie Tofpik is Head of Technical Analysis and Senior Markets Analyst at ADM Investor Services International Limited and Chairman of The Society of Technical Analysts as well as a Director of the International Federation of Technical Analysts. For further details on how to receive his analysis 'Eddie's Crayons', please contact him on
eddie.tofpik@
admisi.com
For further details on how to become a Member of the Society of Technical Analysts or for accredited courses on Technical Analysis, please see
www.technicalanalysts.com
INCIVILITY IS A BUG! IT IS CONTAGIOUS AND WE BECOME CARRIERS BY JUST BEING AROUND IT.’
17 | ADMISI - The Ghost In The Machine | Q2 Edition 2023
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