Blog
Changing the Organisational Culture - Clean Up or Clear Off!
19th January 2013
Is it possible for a new CEO to achieve significant change in the culture of an organisation? Managers and employees at Barclays are about to find out!
Jenkins has sent a letter to every one of Barclays' 140,000 employees explaining the change programme he has instigated called TRANSFORM.
Jenkins has identified five "core values" at the heart of the change programme, namely: "respect, integrity, service, excellence and stewardship".
His message to anyone at Barclays who doesn't fancy complying with those core values is pretty clear:
"There might be some who don't feel they can fully buy into an approach which so squarely links performance to the upholding of our values. My message to those people is simply: Barclays is not the place for you. The rules have changed. You won't feel comfortable at Barclays and, to be frank, we won't feel comfortable with you as colleagues"
You can read the full details of Barclays new statement of corporate values and purpose here on the Barclays website.
So, according to Jenkins, the choice is clear: adopt the core values or leave.
Barclays' corporate reputation has been battered by several scandals in recent years, notably the LIBOR rate fixing scandal and the mis-selling of payment protection insurance ("PPI").
The timing of Jenkins' letter is important. On 12 February 2013 Jenkins will unveil his new strategic plan for Barclays. The statement about compliance with core values is an important stage in preparing the ground for the changes Jenkins will explain, which is likely to involve a shift in strategic direction.