Simple Corporate Culture and Client Care Test

Consider the following two hypothetical scenarios.

You have a series of meetings with a Financial Adviser after which documents are received, explaination provided, forms are completed and funds are invested.

You feel comfortable with the strategy and are confident the products recommended are appropriate given the strategy.

All discussions have been open and honest and it is agreed the plan will be reviewed at least once a year.

Six weeks later, the Financial Adviser discovers an error. They recommended a product aimed at providing investment income when the strategy called for growth.

What would you expect them to do?

In the second scenario, your car is due for service and the transmission oil is due to be replaced. This is discussed and agreed when you drop it off at the workshop.

Later that day, you collect the car, pay the bill and drive away happily.

A week later, the mechanic discovers the wrong oil was used, one that will break down at a temperature lower than if the correct oil was used.

What would you expect them to do?

In both examples, what happens next directly reflects the culture of the organisation.

In the case of the Financial Adviser, there is a potential financial risk.

It is far more serious for the car workshop as a transmission failure could be a life or death situation.

It is hoped that in both cases, there is a clear basis for the error to be reported and for correcting action being initiated.

Further, it is hoped the individuals who may be responsible for an error, are celebrated for their action in reporting it and not criticised or punished.

There may be training, or refresher skills teaching, but not discipline.

An organisation that has a true belief in it’s people and a genuine care for customer outcomes will have a positive culture of “self-declaration” or “self-reporting”. All employees will understand and celebrate this as a core “value”; they will feel confident in the true client intent of their employer.

A simple culture test can be performed.

Do you feel able to self-report an error in the knowledge there will be no negative outcome?

Have a contemplative weekend.