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Ollythia Bernard-Stewart Associate Director, Group Compliance Barclays PLC 1 Churchill Place London E14 5HP United Kingdom
Dear Ollythia
Could I interest you in “a distinct competitive advantage in the 21st century?” I realise that your main role is that of making sure people do the right thing – that they “comply”. And I am sure you are well aware what happens to organisations - even large, respected ones - who behave badly. Only in the last two years, 3 major British companies have been fined in excess of £300m for bribery & corruption. The shocking truth is that none of the CEOs involved saw it coming. But what if I told you that as a result of your efforts your organisation would see more innovation, higher employee loyalty, greater customer satisfaction and superior financial performance? Quite a series of claims, I know. But you may not be fully aware of just how closely better corporate behaviour affects so many aspects of a business beyond not getting bad publicity or seven figure fines. In short, what you do is far more important than even you may realise. Ethical behaviour leads to a huge pay-off in all of the areas I just mentioned: fresh ideas, happier customers and more committed staff - leading to greater profits. We know this because since 1994 we have helped over 10 million people in 500 companies worldwide - including Rolls Royce, Adecco, Deutsche Post and Unilever. We have helped them navigate complex regulatory environments, foster ethical culture by altering their behaviour. If you would like to discuss how we could help you, too, simply e-mail me ([email protected]). But you are subjected to many fine promises, I am sure, so may I explain? The work we do leads, quite simply, to people within companies behaving better not through coercion but through what we call self-governance. These hard figures, derived from impeccable research, show that compared to the way most organisations operate, self-governance delivers: Five times more innovation. Half the number of incidents of misconduct. Triple the level of employee loyalty. Nine times more customer satisfaction You can hardly be surprised, then, that self-governing organisations deliver significantly better
For more information, visit LRN.com or call: +44 (0)207 611 9900 UK
financial performance. But you will be almost as glad to know that the risks of employee misconduct are significantly lower. This is not airy-fairy theorising. Organisations are made up of people. The way people behave creates a culture. There are tangible elements of culture that can be measured and acted upon to give you the distinct competitive advantage I mentioned earlier. The facts you have just read you were revealed in a study conducted for us by The Boston Research Group, Research Data Technology, and The Center for Effective Organisations at the University of Southern California. 5,000 employees in organisations like yours around the world were involved. What was discovered may not surprise you. It may seem obvious when written down, but as far as I know nobody had stated it so clearly before. Certain types of culture are strongly associated with the outcomes all companies seek. And other kinds of culture are just as highly associated with outcomes all companies wish to avoid. Your organisation’s culture is its DNA. It creates its unique qualities, strengths and weaknesses. It determines how things work; how decisions are made; how your customers, suppliers and communities are engaged; and how and why people connect every day. A self-governing culture drives those values most critical for your success. But enough theory. One of today’s most successful entrepreneurs, Tony Hsieh, Zappos CEO, simply states: “Our whole belief is that if we get the culture right, then most of the other stuff, like delivering great customer service or building a long-term enduring brand, will just happen naturally on its own.” One example is worth more than a ton of theory, and Tony Hsieh supplies one. Culture starts with having the right people. If after two months Tony’s firm think new recruits don’t fit in, they pay them $2,000 to leave. That is radical thinking. But in times like these, don’t you think that’s what you need? Radical thinking about how you do things, not just what things you do. Frankly, your organisation may already be one of those rare exceptions that do everything right. But equally frankly, in your position is it really possible to know what’s happening at every level? Many senior directors are honest enough to say they don’t. Some even suspect that there is a small conspiracy to make sure they don’t. That is one reason why - for those who want to know where they and their organisations stand - we offer a one-day assessment for compliance with the UK Bribery Act advisory service. A no charge, no obligation service. And the new Anti-Bribery Management System (BS10500) is expected to become the next requirement for companies, and is another reason to act now. From this you can determine three things. First, to what degree is your organisation’s culture helping or hindering your reputation and profitability. Second, to what degree, if at all, are you at risk as the
For more information, visit LRN.com or call: +44 (0)207 611 9900 UK
regulatory environment changes? And third, what should you do about it? If what you have read strikes a chord, why not get in touch with me now, and let’s see if we can help. You can email me at [email protected]. If what you have read really got your attention and you’d like to talk soon, my direct line is +44 (0)20 7611 9911. Yours sincerely,
George Leckie LRN
P. S. What you just read may seem somewhat overstated, but I would be delighted to put you in touch with colleagues from some of the leading organisations we have helped. They can confirm that what I say is fact.
Los Angeles 1100 Glendon Avenue Seventh Floor Los Angeles, CA 90024 USA
New York 745 5th Avenue, 8th Floor New York, NY 10151 USA
London Aldwych House 71-91 Aldwych London WC2B 4HN UK
For more information, visit LRN.com or call: +44 (0)207 611 9900 UK
Mumbai Nirlon Knowledge Park, Block B2 – 1st Floor Goregaon East, Mumbai 400063 India
Dear Ollythia
Could I interest you in “a distinct competitive advantage in the 21st century?” I realise that your main role is that of making sure people do the right thing – that they “comply”. And I am sure you are well aware what happens to organisations - even large, respected ones - who behave badly. Only in the last two years, 3 major British companies have been fined in excess of £300m for bribery & corruption. The shocking truth is that none of the CEOs involved saw it coming. But what if I told you that as a result of your efforts your organisation would see more innovation, higher employee loyalty, greater customer satisfaction and superior financial performance? Quite a series of claims, I know. But you may not be fully aware of just how closely better corporate behaviour affects so many aspects of a business beyond not getting bad publicity or seven figure fines. In short, what you do is far more important than even you may realise. Ethical behaviour leads to a huge pay-off in all of the areas I just mentioned: fresh ideas, happier customers and more committed staff - leading to greater profits. We know this because since 1994 we have helped over 10 million people in 500 companies worldwide - including Rolls Royce, Adecco, Deutsche Post and Unilever. We have helped them navigate complex regulatory environments, foster ethical culture by altering their behaviour. If you would like to discuss how we could help you, too, simply e-mail me ([email protected]). But you are subjected to many fine promises, I am sure, so may I explain? The work we do leads, quite simply, to people within companies behaving better not through coercion but through what we call self-governance. These hard figures, derived from impeccable research, show that compared to the way most organisations operate, self-governance delivers: Five times more innovation. Half the number of incidents of misconduct. Triple the level of employee loyalty. Nine times more customer satisfaction You can hardly be surprised, then, that self-governing organisations deliver significantly better
For more information, visit LRN.com or call: +44 (0)207 611 9900 UK
financial performance. But you will be almost as glad to know that the risks of employee misconduct are significantly lower. This is not airy-fairy theorising. Organisations are made up of people. The way people behave creates a culture. There are tangible elements of culture that can be measured and acted upon to give you the distinct competitive advantage I mentioned earlier. The facts you have just read you were revealed in a study conducted for us by The Boston Research Group, Research Data Technology, and The Center for Effective Organisations at the University of Southern California. 5,000 employees in organisations like yours around the world were involved. What was discovered may not surprise you. It may seem obvious when written down, but as far as I know nobody had stated it so clearly before. Certain types of culture are strongly associated with the outcomes all companies seek. And other kinds of culture are just as highly associated with outcomes all companies wish to avoid. Your organisation’s culture is its DNA. It creates its unique qualities, strengths and weaknesses. It determines how things work; how decisions are made; how your customers, suppliers and communities are engaged; and how and why people connect every day. A self-governing culture drives those values most critical for your success. But enough theory. One of today’s most successful entrepreneurs, Tony Hsieh, Zappos CEO, simply states: “Our whole belief is that if we get the culture right, then most of the other stuff, like delivering great customer service or building a long-term enduring brand, will just happen naturally on its own.” One example is worth more than a ton of theory, and Tony Hsieh supplies one. Culture starts with having the right people. If after two months Tony’s firm think new recruits don’t fit in, they pay them $2,000 to leave. That is radical thinking. But in times like these, don’t you think that’s what you need? Radical thinking about how you do things, not just what things you do. Frankly, your organisation may already be one of those rare exceptions that do everything right. But equally frankly, in your position is it really possible to know what’s happening at every level? Many senior directors are honest enough to say they don’t. Some even suspect that there is a small conspiracy to make sure they don’t. That is one reason why - for those who want to know where they and their organisations stand - we offer a one-day assessment for compliance with the UK Bribery Act advisory service. A no charge, no obligation service. And the new Anti-Bribery Management System (BS10500) is expected to become the next requirement for companies, and is another reason to act now. From this you can determine three things. First, to what degree is your organisation’s culture helping or hindering your reputation and profitability. Second, to what degree, if at all, are you at risk as the
For more information, visit LRN.com or call: +44 (0)207 611 9900 UK
regulatory environment changes? And third, what should you do about it? If what you have read strikes a chord, why not get in touch with me now, and let’s see if we can help. You can email me at [email protected]. If what you have read really got your attention and you’d like to talk soon, my direct line is +44 (0)20 7611 9911. Yours sincerely,
George Leckie LRN
P. S. What you just read may seem somewhat overstated, but I would be delighted to put you in touch with colleagues from some of the leading organisations we have helped. They can confirm that what I say is fact.
Los Angeles 1100 Glendon Avenue Seventh Floor Los Angeles, CA 90024 USA
New York 745 5th Avenue, 8th Floor New York, NY 10151 USA
London Aldwych House 71-91 Aldwych London WC2B 4HN UK
For more information, visit LRN.com or call: +44 (0)207 611 9900 UK
Mumbai Nirlon Knowledge Park, Block B2 – 1st Floor Goregaon East, Mumbai 400063 India
