Lloyds TSB explore shared values

Published on 5 Feb 2018

Focus : Teamwork, Interaction and Values Creation.

We engaged Team Building Asia to lead a training programme for employees in Hong Kong and Singapore to create a set of shared values that all staff could really identify with. ‘Our Values’ were then embedded throughout the Asia offices – but not purely as a stand-alone ‘concept’ – Our Values have been embedded into the key people strategy areas so that they are lived and breathed. These include:

Recruitment: Our Values now form an essential part of the recruitment process and potential candidates are assessed against Our Values. This has seen an increase in new recruits understanding what is expected of them - not just in what they do but also how they do it. It also led to better recruitment decisions.

Retention: A strong culture which is underpinned by Our Values aims to create a more committed and loyal workforce. Even allowing for the current unstable economic environment - we have found that retention rates are stable.

Managing Employee Performance – Overall performance depends on ‘what you do and how you do it.’ By factoring Our Values into our performance appraisal it has increased the ability of line managers to identify excellent or below standard performance.

Based on the subjective reporting through feedback surveys we have recorded a few non-measurable benefits but important benefits nonetheless in terms of:

Employee Networking: Feedback stated that the training was one of the best opportunities for networking throughout the year and one of the limited number of times when all our staff were able to get together.

Knowledge Sharing: Networking, in turn, leads to staff dialogue between departments and a re-emphasis of the bigger picture that everyone is supporting. This breeds ideas and innovations that drive the business forward.

Increased Employee Morale: Based on feedback this development intervention scored in the top 85% of good to excellent. Within the reports, there are comments supporting that this kind of event will improve working morale and in turn overall performance.

Author: Mr Pete Bundy, Senior Regional Manager, Human Resources, Lloyds TSB.

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