Case study - Osb group
A challenger bank with a 150 year heritage may sound incongruous; but it is that heritage of customer service aligned with clear targeted niche propositions and an efficient operating model which helped OneSavings Bank to move from opening its doors as a bank in 2011 to joining the FTSE 250 index in 2015.
Originally a building society which can trace its roots back through mergers and acquisitions to the Kent and Canterbury Building Society which was established in 1847, in more recent years OneSavings Bank had been through exponential growth and the executive team recognised they wanted to further strengthen the OneSavings Bank proposition; unifying and developing a customer-focused culture across the UK and Indian divisions.
This whilst ensuring that the bank remains true to the principles of good banking as set out by the Banking Standards Board and regulatory bodies.
understood the mission and values following our work
found the immersive activities useful and engaging (86% in India)
felt the organisation had made good progress with embedding the new culture 6 months in
recognised in Sunday Times Best 100 Companies to work for
The existing culture had evolved as the organisation had grown but that growth had started to create some misalignment, so the executive team wanted to capture the cultural essence and give everyone something that was both believable and aspirational to align to for the future – the aim being to embed a culture which would fuel their future growth aspirations.
A supporting aim was to further improve employee engagement and ultimately become accredited as a Sunday Times best 100 companies to work for.
MAB was already driving a tech-led change programme to simplify the customer and adviser journey. But the leadership team knew that without a unifying culture, the transformation risked stalling.
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We are asked to lead an end to end cultural insight, design and implementation programme, which included:
Work had previously been started internally on trying to define a future culture and it was vital that staff were engaged and appropriately involved in shaping the essence future culture. We therefore deployed our core methodology but throughout ensured that we utilised OneSavings Bank resource and capability wherever possible, whilst also upskilling people in culture change capabilities.
Delivered through our award-winning 3-stage methodology:
Using research and employee feedback which had already been collated by OneSavings Bank as a baseline, we were then able to strengthen the picture using our CC culture assessment through assessing and performing a gap analysis of the existing data, employee focus groups, and senior stakeholder interviews
This gave us clear insight into the cultural enablers and blockers of performance.
Working with the Executive Team, we designed a robust and future fit culture, starting with a Mission, Vision, a set of Values and an underpinning OneTeam ethos.
A new values driven behavioural competency framework was then developed, simplifying the existing approach and also embedding Senior Management Regulatory Regime requirements. This new framework created a direct alignment between the values and expected behaviours, providing clarity to everyone.
We also creating visual designs to support the new values so that colleagues had a symbolic/graphical reminder – these were subsequently displayed around the buildings, used on communications, embedded into the technology e.g. intranet.
A new Employee Value Proposition was then created as a commitment to both existing and future colleagues of what the organisation would offer them.
No matter how well-designed, culture change will only become embedded across the organisation once every individual has engaged with the change journey. Engaging in an organisation wide conversation is therefore pivotal to success. We helped the executive team to disseminate the new culture, mission, vision and values across the organisation in a way which would build people engagement. This included:
We also developed an implementation roadmap to enable individuals and teams to be empowered and take ownership for embedding the new culture into work practices and for their future success. This included identifying influences within the business and activating managers and key people as culture champions.
Regular Pulse surveys have been implemented to monitor progress and provide staff opportunity to detail what else needs to be done to fully embed the designed culture, as well as continue to progress towards fulfilling their new vision.
In just the first 6 months, the following results had been achieved:
Culture Consultancy insight formed the highly compelling backbone to everything that came in defining our Mission, Vision and Values. Feedback to our launch events was incredible and that positive energy continues as we embed the new culture. The start of our cultural journey couldn’t have been better thanks to Culture Consultancy. They provided real energy to the project and delivered a full end-to-end service”
Group Head of Marketing, OSB
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