Chartered accountants with Manx office offers "a new take on talent"
The findings of PwC's 18th Annual Global CEO Survey have been published.
The chartered accountants with a Manx office interviewed 410 financial services CEOs in 62 countries for its report, titled “A new take on talent”.
Sixty-two per cent of them said they see lack of trust as a threat to growth, even higher than last year (59%).
CEOs have been striving to reshape culture and behaviour in the face of public disillusionment and continuing scandals within the industry.
But perhaps a less 'heavy-handed' focus on punishment, which runs the risk of creating an environment of fear, and more attention on nurturing and instilling a culture that rewards good behaviour could be a far more effective way forward.
The study highlights that a tough approach to inappropriate behaviour risks creating a climate of fear and breeding more unethical conduct in financial services firms – the opposite of what the public, regulators and firms want.
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