Environmental friendliness, development and transparency: how Oschadbank's corporate culture is built

Corporate culture is the backbone of any company. It is the foundation without which it is almost impossible to work effectively. Anna Altukhova, editor-in-chief of PaySpace Magazine, found out how the corporate culture is built in the state-owned bank Oschadbank, what HR specialists working in financial institutions should pay attention to, and how to avoid a toxic atmosphere in the team

There is an opinion in the society that financial institutions, especially banks, are very conservative, so the internal atmosphere is authoritarian. And the concepts of "environmental friendliness" and "development" in relation to employees remain only on paper. Iryna Makoveeva, Director of the Human Resources Department at Oschadbank, helped to dispel these myths and gave some useful advice.

1. What exactly does the phrase "environmental corporate culture" mean to you?

The core of the ecological corporate culture and all its areas is respect for a person and his or her personality, the principle of equality and equity, voluntariness, and a positive outlook. It should not harm people, should not contain pressure, manipulation and hidden benefits for management.

1. How is the corporate culture built at Oschadbank?

Oschadbank's corporate culture is primarily based on such values as people, development and transparency. The bank's values contribute to the creation of a socially balanced corporate culture.

We strive to become the number one bank for our customers and employees, so we strictly adhere to the principles of honesty and transparency in communications.

Oschad provides equal opportunities for professional development and career growth to all its employees. Gender equality and development of each of us is the key to the success of the entire bank. We care about the safety and health of our employees.

In addition, Oschadbank's corporate culture is regulated by internal documents on communication and behavioral norms, corporate ethics, working conditions, remuneration, etc.

1. Which approach do you consider the most successful?

A systematic approach to corporate culture is a priority. It includes the use of key tools: a system of horizontal and vertical communications, team-building activities, internal joint projects, and adherence to corporate traditions. At the same time, it remains very important to involve employees in barrier-free communication, feedback, support, and care for each other, especially in times of war.

1. In your opinion, is there a difference in building a corporate culture in a bank compared to other companies, such as IT? What should HR pay attention to in the first place?

Any corporate culture is formed on the basis of the company's values and a clear understanding of its audience, which allows you to properly formulate messages and choose communication channels. The way employees communicate with each other and with customers, take on tasks and complete them, and look for solutions to problems is all about values, and it is very important for everyone to be in the same information field.

At Oschad, the majority of employees belong to the front office. These are the employees who provide banking services on a daily basis. Therefore, the bank is about "vertical" communications with a clear hierarchy, while IT is about "flat" structures and agile teams. These factors influence the approaches to building a corporate culture, choosing the tone of communication, its tools, approaches to selling ideas, etc. In addition, Oschadbank, unlike an IT company, is a state-owned institution whose work is regulated by the NBU and the Cabinet of Ministers. This has an impact on the corporate culture in terms of approaches to organizing internal work processes.

1. What difficulties do HR usually face when trying to build a corporate culture in banks? After all, this is a very conservative institution.

In particular, it is overcoming barriers in communication between different levels of employees, subculture of certain groups, optimization of result-oriented processes, increasing staff engagement, and overcoming complex bureaucratic language.

1. What are the signs of a toxic corporate culture in a bank? How to avoid it?

These can be different groups within the organization with their own subculture, bullying, gossip, sabotage, ignoring events and joint activities, low staff engagement, etc.

For example, while optimizing the bank's structure and work processes, we discovered behind-the-scenes discussions that were not true and had a negative impact on the overall mood of the team. To avoid spreading any rumors, we provide employees with timely, clear and understandable communication with explanations.

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