IRISH BANKING CULTURE BOARD PUBLISHES éist 2023 STAFF CULTURE SURVEY
AT ‘CULTURE IN BANKING’ EVENT
ATTENDED BY CEOs OF IBCB MEMBER BANKS AND IBCB BOARD
Survey highlights progress in customer centricity and staff feeling proud to work in the sector with continued focus needed on speaking up and accountability
The Irish Banking Culture Board (IBCB) today hosted an event for bank staff to launch the findings of their recent research on culture in banking, which captured the perspectives of over 10,000 banking staff working at all levels in the sector.
The IBCB éist 2023 Staff Culture Survey found that there has been continued progress on several key internal measures of culture – including ethical conduct, customer centricity and staff’s ability to feel proud of the sector. The research also highlighted areas where continued focus is necessary including an ongoing focus on speaking up and accountability. The research was compiled in the spring of 2023, with a completion rate of over 53%.
Jade McDonagh, IBCB’s Head of Internal Bank Culture and Governance, said: “Banking staff at all levels have been and continue to be key drivers of cultural change within the sector. They are the people on the ground dealing with customers, making decisions in real time, seeking to deliver a service of which they can and are proud”.
The Bank Culture Staff Event, hosted by the IBCB, facilitated a discussion with staff from across its member banks on the findings of the survey and on key cultural topics in the sector. There was also a panel discussion with the CEOs of each of the IBCB’s member banks; Colin Hunt, CEO, AIB; Myles O’Grady, CEO, Bank of Ireland and Eamonn Crowley, CEO, PTSB, along with IBCB CEO, Marion Kelly. The panel discussion focussed on the findings of the survey and cultural challenges and opportunities across the sector.
Speaking at the event, IBCB CEO, Marion Kelly, said: “These results reflect the views of more than 10,000 bank staff across all levels and roles, and point to continued positive progress across several key cultural indicators, particularly in relation to delivering for the customer in the right way. 86% of bank staff consider their bank does business ethically, and 76% of staff report that there is no conflict between their organisation’s stated values and how business is conducted.
Confidence in the sector is vital to rebuilding trust and being able to rely on an organisation acting as it says it does is a cornerstone of that trust. Bank staff wish to work in an industry they can feel proud of – delivering consistent positive customer outcomes and actions inspired by social purpose is integral to this. The IBCB is committed to continuing to work with our member banks and the wider sector in achieving these objectives.”
Key findings and report highlights can be viewed here in this video. The éist Staff Survey report is available from Friday 29 September on the IBCB website.
ENDS
For further information, please contact: Edelman: Fiona.Murphy@Edelman.com | T: +353 87 8194464
Images from the event will be shared Friday 29 September
Photo Credit: Barry Dillon
Notes to Editors:
About the Irish Banking Culture Board:
The Irish Banking Culture Board is an independent industry initiative funded by the retail banks in Ireland (Allied Irish Banks, Bank of Ireland & PTSB) with the purpose of working with their member banks to build trustworthiness to assist the industry in regaining public trust. The Board is independent with a non-banking majority, whose members are drawn from across Irish society. The role of the IBCB is to be an independent voice advocating for cultural change in the Irish banking industry. The IBCB is focused on culture and behavioural change in our member banks, in the knowledge that a changed culture will change outcomes. The IBCB is not a lobbying or representative organisation. It does not act as a regulatory body nor duplicate the work of individual banks, the BPFI or the regulator.
For more information www.irishbankingcultureboard.ie
About the éist Staff Survey]
The éist Staff Culture survey is conducted every two years, using Ipsos Karian & Box’s robust culture diagnostic. The last survey was conducted in 2021 and this year’s survey is the third staff culture survey. The survey focused on exploring bank staff’s views on a range of issues which lie at the heart of banking culture. We appreciate that some aspects of culture will be unique to different member banks however there are also industry-wide cultural traits. The analysis and reporting allow us to measure and track cultural progress across the sector over recent years.
