Alison Taylor, Executive Director of Ethical Systems at NYU, explores pressing questions about workplace culture. She discusses the unpredictable impact of remote work on organizational ethics and the often disappointing results of corporate responsibility initiatives. Taylor emphasizes fostering authenticity and inclusion and warns against imposing uniform values. She highlights the necessity of adapting to new workforce expectations, particularly from younger generations, to build a more engaged and motivated workforce.
Organizational culture is a shared responsibility where all employees influence it, not just HR or leadership roles.
The rise of remote work necessitates experimental approaches to culture, fostering innovation and trust within diverse teams.
Deep dives
The Role of Culture in Organizations
Culture within organizations is a shared responsibility that cannot be solely managed by HR, compliance, or senior leadership. Each of these entities contributes to a slice of culture, while employees as a whole play a vital role in shaping it. Simply delegating cultural issues to specific functions is ineffective; instead, genuine change necessitates a shift in people's underlying assumptions and mindsets. Recognizing this complexity is essential for leaders who aim to create and nurture a robust organizational culture.
Understanding Ethical Behavior in Financial Services
Organizational culture is especially critical in the financial services industry due to its immense influence on the broader economy and its unique ethical pressures. While regulations provide necessary oversight, they can also inadvertently lead organizations to prioritize processes over cultural dynamics. This approach can result in employees finding ways to circumvent compliance measures if they believe achieving their objectives is more valuable. Striking a balance between robust governance and cultivating a healthy culture is essential for effective ethical behavior.
The New Workplace Dynamics
As organizations adapt to post-pandemic realities, they face new challenges and opportunities related to workplace culture. Remote work has revealed that organizational culture can manifest differently, sometimes stronger, when adapted to virtual platforms. Furthermore, there is a pressing need for businesses to conduct experimental research to understand and refine their cultural dynamics amid ongoing changes. Emphasizing this experimental approach can foster innovation and facilitate better collaboration and trust within teams.
Navigating Generational Expectations and Engagement
Younger generations entering the workforce bring distinct expectations regarding work culture, personal values, and engagement with corporate purpose. However, as employees increasingly demand that organizations reflect their personal values, it becomes nearly impossible for firms to meet these diverse expectations without risking internal conflict. A pressing need exists for organizations to promote pluralism and mutual respect rather than imposing a single set of values on all employees. Balancing these demands while ensuring a cohesive and respectful workplace culture will be paramount for successful management.
What impact does remote work have on organizational cultures? What causes some corporate responsibility efforts to fall short of meaningful change? And is there a silver bullet to creating a more inclusive workplace culture, effective management, and streamlined operations? Alison Taylor, Executive Director of Ethical Systems at New York University, articulates some of the biggest questions that today’s industry leaders should be asking and offers a roadmap for collective and lasting impact.
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