Finance & insurance
APRA’s recent review of CBA’s culture and the 2018 Hayne Royal Commission have both set a much higher bar for the governance, leadership, ethics and culture of Australia’s financial services and insurance organisations – with a natural flow-on effect to all other organisations too.
Insync’s recent research with the Australian HR Institute, 5 Hard Truths of Workplace Culture, is a rallying cry for leaders to role model and galvanise a much more ethical and sustainable culture in their organisations from the inside out. This will require leaders to embed a much more holistic view of sustainable high performance, recognising that the long term interests of employees, customers, the community and shareholders are inseparable.
Building a more ethical and sustainable culture will require a much greater focus by boards and executives on governance and assurance, culture and accountability, non-financial risks and the robustness of their organisation’s risk culture. This will provide many challenges but will also represent a great opportunity for organisations to differentiate themselves in a crowded and competitive market.
Other industry challenges include building sustainable shareholder value and profitability in an environment of:
- increasing regulation
- sustained low growth
- erosion of consumer trust
- greater competition, digital disruption and new business models including from fintech companies free from legacy systems and structures
How Insync can help
Insync is passionate about helping financial services organisations differentiate themselves and achieve sustainable high performance.
We have partnered with dozens of financial services clients over many years to measure where they are at, where they want to go and the levers they need to pull to take them to the next level.
Our approach is evidence-based, collaborative, change-oriented and strategic. We help with: