Culture – A Practical Framework for Sustainable Change

Supporting Organisations on Their Cultural Journeys.

November 07, 2019

Culture remains high on the regulatory agenda, and is likely to feature prominently for the foreseeable future. Similarly, investors, the wider public, the media, and politicians alike continue to critically monitor the cultural trajectory of the financial services industry. 

Latham & Watkins has developed a culture framework, which seeks to help bridge the theory-practice divide by offering a practical toolkit, informed (among other factors) by recent insights, trends, and real-life case studies from which firms can draw to inform their own approach to culture change. 

The framework: 

  • Is a practical lens through which firms can constructively approach culture in the workplace
  • Bridges theory with practice through a practical toolkit
  • Has been informed by recent insights, trends, and real-life case studies
  • Is a useful resource to help measure and monitor culture

In the past decade, we have spent an ever-increasing amount of time advising financial institutions on their culture change and conduct initiatives, as well as other culturally rooted problems. Monitoring the cultural direction of travel — reflective of the clear regulatory expectation — is easier said than done. How organisations can (or should) get a practical handle on the inherently nebulous concept of culture is not immediately obvious — a dilemma we have faced on numerous occasions. 

While there may never be a “perfect” methodology for measuring culture, this framework outlines an array of measures and techniques that firms can usefully adopt in their quest to institute a meaningful, objectively monitorable, and operationally workable culture change programme.

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