1. Progressing the ECB Core Values
Presentation RH Tribune 29 May 2008

2. Comparison with the Belgian Banking Industry
Agenda
Why?
Methodology
Specific approach
Result
Comparison with the Belgian Banking Industry
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3. Why?
Internal Survey 2004

4. Managing people (experts) from different cultures
to transcend such a “commonsense” approach by building frameworks which provide a means of analysing and thinking about the differences and similarities among different cultures.
Therefore, the most crucial task of transnational managers is to encourage a shared mission and personal commitment to integrate the organisation at the fundamental level of individual members.
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5. Values as the corporate glue
A clear mission and values are crucial in an increasingly complex organisation where different cultural influences are daily coming into contact, interacting and melding into hybrid forms of managing through principles, processes, policies and practices. These mission and the values could be referred to as the corporate glue.
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6. Methodology

7. Moral principles guiding corporate decision-making and behaviour
What are Values?
Moral principles guiding corporate decision-making and behaviour
What the organisation stands for fundamentally
The essential and timeless principles which guide ECB’s decisions and actions towards achieving its mission
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8. What is value driven management?
Integrating the organisational values in the culture of the organisation. It is an active approach where the organisational decision making process and management are in line with the core values of ECB and become part of the daily practice.
Therefore, a valuedriven perspective on management is necessary. It implies that all plans, decisions, actions, … are driven by a consistent focus on these values.
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9. Value Driven Management
Key success factors
Effective communication about the values
A consistent opinion about the values
Top-down: live the values
Are they in line with daily beliefs?
Policies, actions, decisions, rewards,… need to be guided by a focus on values
Translate values in value driven behaviour
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10. What is valuedriven management?
Phase I: Clarification of the
mission and the values
Stakeholders
Topmanagement
Employees
Customers …
Phase II: Communication
On an organisational level (meetings, special forums, etc…)
Use of communication material (posters, brochures, cards, etc…)
Formal communication mechanisms (news letters, etc…)
Informal communication channels (memo’s, telephone, , informal meetings, etc…)
Phase III: Bringing the values in line with the daily practice
On an organisational level
On a divisional
level
At an individual
Strategic planning
Organisational systems & processes
HRM
Remuneration & recognition
in function of values
Raising efficiency and effectiveness
Group dynamics
Performance management
Facilitate teamwork
(Self) development
Problem solving and decision making
People management & leadership skills
Phase IV: Constant feedback
Review
Evaluation
Actions
What is valuedriven management?
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11. Values <> Competencies
Experience
Skills
Knowledge
Personal
characteristics
Intelligence
Personality
Motivation
COMPETENCIES
Behaviour
A competency (like leadership or strategic thinking) is a synergetic set of skills, attitudes and knowledge that manifests itself in observable behaviour and has a predictive value towards the effective realisation of a specific performance.
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12. Integrated management of HR processes
Recruitment & selection
Training & Development
Core Values
Competence
Framework
Value charter
Competency
profiles
Appraisal & Performance
management
Career planning
Succession Planning
Reward policy
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13. Specific approach towards core values

14. The integration model ECB Core values ECB Competency Framework
Mission Statement
Additional values EiM
ECB
Core values
Code of Conduct, Conditions of Employment, Staff Rules, Ethics Advice
ECB
Competency
Framework
11 core competencies
3 clusters
5 leadership competencies
Profile for ECB managers (EiM)
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15. Desk research on values
Effectiveness
Efficiency
Integrity
Transparancy
Competence
Professionalism
Open-minded attitude
European-minded attitude
Leadership from management
Openess
Mutual respect
Team spirit
Trust
Mission Statement
ECB in motion
Loyalty
Honesty
Cooperative attitude
Non-discrimination
Equal treatment
Diligence
Responsibility
Discretion
Accessibility
Correctness
Courtesy
Independance
Impartiality
Code of conduct, conditions of employment, staff rules, ethics advice
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16. Defining and communicating ECB Core Values
Development of ECB core values against the background of current ECB documents and communication
Desk research available information and choice of methodological approach towards values and competency management
Brainstorm with Design Group Values on core values and competency framework
Reporting to HR management Sounding Board on core values and competency framework
4 workshops with members of staff (= focus groups) to define behavioural indicators for ECB Core Values
Communication on ECB Core Values
Final draft of ECB Core Values with behavioural indicators
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17. Result

18. Team spirit : We succeed trough collective spirit and action
The ECB Values
Team spirit : We succeed trough collective spirit and action
Performance : We debate, commit, deliver
Excellence : We are at the leading edge
Integrity : We behave reliable, fair and honest
Transparancy : We share
European MINDEDNESS : We benefit from the diversity of our people
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19. Aligning values with practices and beliefs
What does ECB want to achieve by introducing values?
Identifying
Sharing
Achieving the misson
Living the values
Values
Definitions
Behaviour indicators
Communication
Value charter
Mission statement
Alignment with daily practices
External world
Cohesion
Change management
Image/marketing
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20. Comparison with the Belgian FSI

21. The Belgian Financial Services Industry
At least binational – more and more international
Invested a lot in HR the last years but still “a long way to go” compared with e.g. Pharma – FMCG
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22. Values within the Belgian Financial Services Industry
Some questions need to be answered :
Is there a recognized need for change ?
Do values exist ? Are they communicated?
Are they really translated?
Does the top management “walk the talk” – living the values?
Are they in line with daily beliefs?
Is the fundamental prerequisite : a very good HRM already in place?
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23. Values within the Belgian Financial Services Industry
It is easier to SAY what we believe
than to BE what we believe
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