Culture Head to Head Series – HSBC v Barclays

by | Nov 6, 2024 | Case study, Culture

Comparing company personalities using our twelve topic Culture framework reveals the strengths and weaknesses of company cultural behaviours and their employee value drivers. Enjoy our Head to Head series for CultureExperts

HSBC: More Collaborative, D&I, Learning & Development, Supportive and Empowered

Barclays: More Career Progression, Pay & Reward, Work-life Balance and Purpose

Key Observations and Analysis

Cultural Behaviors

  1. Agility & Bureaucracy
    HSBC scores -78.3%, while Barclays scores -70.7%. These negative scores indicate that employees in both organizations perceive high levels of bureaucracy, which may be hindering agility. Reducing bureaucratic processes could help improve responsiveness and operational efficiency, making each bank more adaptable in a fast-changing financial landscape.
  2. Empowered
    HSBC has a score of -36.7%, while Barclays scores lower at -47.5%. Both scores are negative, suggesting that employees feel limited in their autonomy, with Barclays showing a stronger perception gap. Enhancing empowerment through initiatives that grant employees more decision-making authority could boost engagement and motivation, particularly within Barclays.
  3. Progressive
    HSBC scores -74.8%, while Barclays is slightly lower at -76.4%. These negative scores reflect a perception that both organizations could be more forward-thinking. Emphasizing innovation and progressive practices could be beneficial for both banks, helping them to adapt to technological advances and shifting consumer expectations in the financial sector.
  4. Diversity & Inclusion (D&I)
    HSBC scores +36.3%, while Barclays has a score of +25.3%. Both scores are positive, indicating that employees perceive a relatively inclusive work environment, with HSBC showing a stronger result. Continuing to prioritize D&I initiatives could enhance workplace satisfaction and broaden the talent pool by attracting diverse candidates.
  5. Collaborative
    HSBC scores +38.2%, while Barclays scores +25.1%. These positive scores suggest that both organizations foster a collaborative culture, with HSBC slightly ahead. Strong collaboration can support effective problem-solving and cross-functional initiatives, which are valuable in large, complex organizations like these banks.
  6. Supportive
    HSBC has a score of -20.4%, while Barclays scores lower at -25.5%. Both scores are negative, suggesting that employees may feel a lack of adequate support within the organization. Strengthening support structures, such as mentorship programs and accessible leadership, could help improve morale and retention in both banks.

Employee Value Drivers

  1. Purpose
    HSBC scores -73.2%, while Barclays scores -58.3%. These negative scores indicate that employees in both banks feel a disconnect from their organization’s mission, with HSBC showing a more significant gap. Improving purpose alignment by communicating the bank’s societal impact and values more effectively could help foster motivation and engagement.
  2. Work-Life Balance
    HSBC scores +3.5%, with Barclays scoring higher at +13.8%. Both banks show positive sentiment, indicating general satisfaction with work-life balance, though Barclays appears to be slightly stronger in this area. Maintaining a healthy work-life balance is beneficial for employee retention, especially in an industry known for demanding work hours.
  3. Learning & Development
    HSBC scores +52.4%, while Barclays scores +42.7%. Both banks show positive sentiment, with HSBC leading in this area. This indicates that employees value the learning and development opportunities available, which is an asset for attracting and retaining talent in the competitive banking sector.
  4. Career Progression
    HSBC scores -43.1%, while Barclays scores -37.5%. Both banks show negative sentiment, suggesting that employees feel limited in their career advancement opportunities. Providing clear pathways and transparent criteria for progression could enhance motivation and reduce turnover.
  5. Pay & Rewards
    Barclays scores +37.8%, significantly higher than HSBC’s +14.0%. Both scores are positive, suggesting general satisfaction with compensation, though Barclays’s higher score indicates a stronger alignment with employee expectations. Competitive pay is crucial for talent attraction and retention in the banking industry.
  6. Tech in Workplace
    HSBC has a score of -41.8%, while Barclays is close at -40.4%. Both scores are negative, indicating dissatisfaction with workplace technology. Investing in advanced digital tools and technologies could enhance productivity and appeal to employees, especially as digital transformation becomes increasingly important in banking.

Summary

In summary, HSBC demonstrates strengths in learning and development (+52.4%) and collaboration (+38.2%), while Barclays shows relative strengths in pay and rewards (+37.8%) and work-life balance (+13.8%). Both banks face challenges in purpose alignment, empowerment, and agility, which could benefit from targeted improvements to enhance employee engagement and satisfaction. By focusing on these areas, HSBC and Barclays can strengthen their employee value propositions, making them more attractive to current and prospective employees in a competitive industry.

This analysis highlights the key cultural and employee value drivers for HSBC and Barclays, outlining areas where targeted efforts could lead to improvements in employee morale and retention. ​

Ready to benchmark Culture?

Interested in Culture Intelligence and key questions like:

  • What makes one Culture more effective than another?
  • Does one Cultural personality have more success in the long run and short run? Is a company personality like the signature of the management?

In this series, we explore different Company personalities and how they compare.

Follow us on Linkedin