# Business is changing – is your culture changing with it? Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2021-02-22 Category: BUSINESS Category URL: https://financedigest.com/category/business Meta Title: Balancing Metrics in Financial Institutions Amidst a Year Meta Description: Discover how financial institutions navigated the challenges of 2020 by balancing metrics and fostering remote culture to support growth and development. URL: https://financedigest.com/business-is-changing-is-your-culture-changing-with-ithtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/untitled-design-51-1736838560197-compressed.jpg) _By **James Turner,** Chief People Officer at Somo_ American author and leadership expert Warren Bennis is often quoted as saying “in life, change is inevitable. In business, change is vital”. We have all, in both our [business and personal lives](https://www.financedigest.com/saving-on-water-bills-more-than-just-a-drop-in-the-ocean-for-businesses-facing-the-cost-of-living-crisis.html "Saving on water bills: More than just a drop in the ocean for businesses facing the cost-of-living crisis"), experienced massive change in the last year. New social norms, new [digital habits – and a new way](https://www.financedigest.com/five-ways-businesses-can-prepare-themselves-for-the-digital-economy-be-kaler-pilgrim.html "Five ways businesses can prepare themselves for the digital economy – Be Kaler Pilgrim") of working. For financial [institutions](https://www.financedigest.com/top-5-security-technologies-that-every-finance-institution-workplace-should-consider.html "Top 5 Security Technologies That Every Finance Institution Workplace Should Consider"), 2020 was a year of balancing metrics. As the extent of COVID’s economic impact became clear, the pressures to keep customers happy and [cash flowing](https://www.financedigest.com/should-your-business-reconsider-invoice-financing-top-tips-on-why-reappraising-this-method-liberates-business-cash-flow.html "Should your business reconsider invoice financing? Top tips on why reappraising this method liberates business cash flow") increased dramatically.  But whilst balancing the books is a timeless business challenge – doing so from our own homes and not the office was a new experience to many. The move to [working from home](https://www.financedigest.com/working-from-home-heres-how-you-can-save-money-on-your-auto-insurance.html "Working From Home? Here’s How You Can Save Money on Your Auto Insurance") came with its own challenges – some easier to hurdle than others. Tech tools like Zoom, Slack and [Teams all enabled](https://www.financedigest.com/allowing-yourself-time-to-grow-as-a-leader-consciously-will-enable-you-to-support-your-team-authentically.html "Allowing yourself time to grow as a leader, consciously, will enable you to support your team authentically") us to stay connected and communicate with relative ease. But some facets of business are difficult to replicate from home – and even more difficult to measure. **Remote culture** [Company culture is a huge](https://www.financedigest.com/title-medical-imaging-equipment-services-market-to-witness-huge-growth-by-2031-with-profiling-leading-companies-agfa-gevaert-group-althea-group.html "Medical Imaging Equipment Services Market to Witness Huge Growth by 2031 with Profiling Leading Companies – Agfa-Gevaert Group, Althea Group") behavioural driver for employees. But how does this [adapt or change](https://www.financedigest.com/how-brands-can-adapt-marketing-tactics-to-better-suit-customers-changing-shopping-habits.html "How brands can adapt marketing tactics to better suit customers’ changing shopping habits") to the work-from home experience? How can [businesses foster positive codes and conventions which keep](https://www.financedigest.com/keeping-an-eye-on-company-purse-strings-where-do-businesses-go-wrong.html "Keeping an eye on company purse strings – where do businesses go wrong?") staff growing and developing even outside the office? One important element is that of personal development and growth, and [Business leaders](https://www.financedigest.com/how-business-leaders-can-adapt-or-replace-covid-related-perks-to-the-post-pandemic-world-while-keeping-employees-on-side.html "How business leaders can adapt or replace Covid related perks to the post-pandemic world while keeping employees on-side") need to create an environment which actively encourages learning. More than this, to create a culture that fosters positive behaviours from a team spread around the country (or the world), [leadership teams](https://www.financedigest.com/zivver-expands-leadership-team-names-three-new-c-level-executives.html "Zivver Expands Leadership Team, Names Three New C-level Executives") need to invest in learning as a priority.  It might not be an easy metric to measure, but plays a defining role in [growing businesses](https://www.financedigest.com/should-you-take-out-a-personal-loan-to-start-or-grow-your-business.html "Should You Take Out a Personal Loan to Start or Grow Your Business?"). **Logged in, locked on** [Digital tools are improving and people](https://www.financedigest.com/people-need-people-humanising-the-digital-banking-experience.html "People need People – Humanising the digital banking experience") are getting better at using them. And though no video call can truly replicate the face to face meeting, there is still an opportunity to cultivate a [productive culture](https://www.financedigest.com/creating-a-positive-and-productive-culture-within-the-workplace.html "Creating a Positive and Productive Culture Within the Workplace") from home. Leaders need to have a mentality which promotes learning and encourages curiosity: build learning time into your [business plan; crowdsource the best of breed learning content out there rather than limit people to one corporate platform of content; reward learning, and reward knowledge sharing; recognise that people learn in different ways](https://www.financedigest.com/how-to-create-a-pr-plan-and-link-it-to-your-business-marketing-strategy.html "How to create a PR plan and link it to your business marketing strategy"). What’s harder to replicate remotely is the learning by osmosis: [gaining experience from observing how those around](https://www.financedigest.com/cherry-picker-crane-market-is-expected-to-experience-substantial-gains-with-projections-around-6-to-8-cagr-from-2021-to-2031.html "Cherry Picker Crane Market is expected to experience substantial gains, with projections around 6% to 8% CAGR from 2021 to 2031") you do business, being able to ask questions on the fly, to join meetings on the spur of the moment. In such meetings newer [team members](https://www.financedigest.com/playground-xyz-appoints-new-team-members-as-it-solidifies-its-position-as-a-leader-in-the-attention-space.html "Playground xyz appoints new team members as it solidifies its position as a leader in the attention space") learn what to say, and experienced people learn what to look for. At Somo, we have always believed in exposing our people to as much business experience as possible as early as possible. Even on Zoom, inviting an intern to join a senior client meeting – to gain experience and understanding – remains an invaluable experience for them, and reflects a true learning environment. **Active learning** If learning in the [office was all about loading colleagues with all the information they needed – then learning from home](https://www.financedigest.com/analysis-u-s-companies-spend-billions-on-stay-at-home-tech-boding-ill-for-office-properties.html "Analysis-U.S. companies spend billions on stay-at-home tech, boding ill for office properties") is all about encouraging colleagues to grab  everything they need.  A culture of learning which is not pushed, but rather encourages colleagues to pull resources, and then share it out. It is about giving people the time and the resources to learn, to promote learning and the sharing of knowledge and to celebrate achievements in learning. This can be done in small snackable sessions. For example, we have ramped up our lunch and learn meetings, introduced [weekly ‘show and tells’ in which we share](https://www.financedigest.com/shares-and-bonds-nervy-as-rate-hike-week-looms.html "Shares and bonds nervy as rate-hike week looms") learnings and experience from all corners of the business, and also sought insight from external advisors through short, sharp training sessions. We’ve even taken the opportunity to build Somo’s first fully-fledged, two-week online course, Successful Agile for [Digital Teams](https://www.financedigest.com/carta-teams-up-with-vauban-to-launch-the-first-digital-solution-aimed-at-venture-capital-investors-creating-luxembourg-based-funds.html "Carta teams up with Vauban to launch the first digital solution aimed at venture capital investors creating Luxembourg-based funds"), available on the Futurelearn platform. Many of these initiatives were not organised centrally, but devised and launched by individuals or [groups within the business](https://www.financedigest.com/uk-needs-to-make-politically-unpopular-reforms-to-boost-growth-business-group-says.html "UK needs to make politically unpopular reforms to boost growth, business group says") who wanted to see them happen. Much of the time, it’s about enabling your people to create that [learning culture](https://www.financedigest.com/promoting-a-learning-culture-in-the-workplace.html "Promoting a learning culture in the workplace"), empowering them to make it happen, and get out of their way. As we move out of lockdown, the challenge is to take these learnings and establish an effective model that blends [home and out-of-home](https://www.financedigest.com/digital-out-of-home-market-to-register-a-cagr-of-11-0.html "Digital Out-of-Home Market to register a CAGR of 11.0%") working, and redefines the purpose of the physical office spaces. Somo’s latest whitepaper, [Digital Leadership Priorities,](https://www.somoglobal.com/whitepapers/digital-leadership-priorities-for-2021/) addresses these challenges, including conversations around remote working etiquette, understanding where physical gatherings are essential and where virtual can actually be better. In business, change is vital. The challenges of the last year have not been easy to surmount, but ultimately they are shaping a new era of work. For financial [services businesses](https://www.financedigest.com/more-companies-investing-heavily-in-business-services-software.html "More Companies Investing Heavily In Business Services Software"), investing in the learning, research and training which allows company culture to evolve into this new world is critical. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---