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Measuring Right: Understanding Goodhart’s Law

QAspire

If you don’t frame your metrics right, they can distort behaviors. A bank executive once insisted that I do him a favor by getting a free credit card (even when I did not require it). Reframe metrics as a tool to learn and adapt: Build team rituals to have a dialogue on leading indicators to learn, adapt and course correct.

Metrics 122
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Championing Diversity and Inclusion at Bank of America

HR Digest

In 2021, we merged our Consumer Bank Academy with our Global Learning Organization to create The Academy at Bank of America, an onboarding, education and professional development organization dedicated to the growth and success of 200,000+ teammates from consistent onboarding through skill building.

Banking 78
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Wall Street banks opt for greater automation for grunt work to retain talent

HR Digest

Banks now insist on weekend offs, no excessive overtime, and greater use of technology for routine work. Wall Street banks are trying to automate as much grunt work as possible to save the younger bankers from feeling overwhelmed. Headcount in the banking industry is likely to get reduced, aided by technology.

Banking 95
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Leading by Cause

Lead Change Blog

A recent conversation with a community bank CEO focused on his vision for the company. With depth of affirmation around cause preceding effect, why do business leaders focus so heavily on analyzing their numbers, or, focus on the effect instead of the cause? Logic tells us we can manage cause, but only measure effect.

P&L 220
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The Optimist’s Telescope: Thinking Ahead in a Reckless Age

Leading Blog

At a Stanford Director’s College in 2016, Roger Dunbar, chair of the Silicon Valley Bank, told Venkataraman that “when he hears company executives or board members responding to short-term noise with outsize reactions, he likes to pretend he is lost. It helps too to look past typical metrics to see what is actually happening long-term.

Long-term 225
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3 Common Mistakes That Prevent Leaders from Building Trust

Lead Change Blog

I’ve seen hundreds of representations of trust: wedding rings, a cross, a child holding a parent’s hand, a bank vault, and people shaking hands, just to name a few of the common ones. When I conduct training workshops on building trust, I often like to ask participants to draw a symbol or picture that represents trust.

Planning 264
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CMI Highlights – 9 August

Chartered Management Institute

She pointed out that, while obesity is not a protected characteristic, there are links between factors such as lower socio-economic background and higher BMI. Listen to the discussion here (starts 2:33:17; Caroline from 2:42:30; available until 31 Aug). Is our skills gap increasing inflation?