Workplace Culture Enables Investment Firms to Do Better

In today’s highly competitive business environment, workplace culture is becoming increasingly recognized as a source of competitive advantage.

What does this mean for the investment industry, and how can asset managers use it to improve performance?

To find out, this infographic from Wells Fargo Asset Management explores the elements of a healthy culture, then shares four insights regarding the workplace of tomorrow.

The Top Cultural Edges to Develop

Workplace culture was gaining traction for several years prior to COVID-19, but after the disruptions experienced in 2020, its perceived importance has quickly escalated.

In light of this situation, the Thinking Ahead Institute, a non-profit dedicated to improving the efficacy of the investment industry, surveyed 27 asset managers on what they believe are the most important cultural edges to develop.

#1: Diversity, Equity & Inclusion (DE&I)

92% of respondents

DE&I was the top cultural priority by a wide margin, and it’s easy to see why given the industry’s well-documented lack of diversity. Boosting DE&I isn’t just about optics, however.

In a 2018 study, the Boston Consulting Group (BCG) surveyed 1,700 companies globally to learn how diversity affected their performance. They found that firms with above-average diversity on their management teams reported average innovation revenue of 45%, while those with below-average diversity reported it to be about 26%.

#2: Innovation

62% of respondents

Asset managers frequently apply innovative techniques within (Read more...)