A year ago the FCA was proud to announce the results of its staff survey. Nearly 3,000 staff replied to this year’s survey and it is clear there are big problems at the FCA. According to reports as few as 16% staff have confidence in the FCA’s management. If that’s true then it’s a humiliating turnaround for the organisation’s leadership team.
We can’t discuss specific figures outside FCA systems, and we don’t condone the leaking to the press that has occurred. It’s no secret that the figures are disturbingly low – for example, for the “Trust Index” and the questions on “reward”, “trust and confidence in Exco” and whether the FCA is a “psychologically and emotionally healthy place to work”.
The problems go beyond specific grievances such as pay cuts and problematic appraisal grades. They point to a culture of mistrust and disillusionment with management. Poor morale means poor performance. This is bad news for the FCA and for the public whom we serve.
But there is an answer.
The answer is a credible, independent voice for staff in the form of a recognised trade union. As a recognised union, we will serve you day-in day-out by advocating for your interests and providing constructive challenge to Exco where appropriate.
The Staff Consultative Committee (SCC) does its best. The SCC reps work to help their colleagues. But only a trade union has the independence, resources and legal standing to represent staff effectively. We are making this point to the three advisers conducting the Colleague Voice project, and we recommend that union members do likewise by emailing them or attending the meetings which they are currently holding (details on Pulse). But once the process is over EXCO members need to know, we will be watching you.
The problems with morale can be solved. This situation can be turned around quickly, as happened at the Bank after their industrial problems in 2017. This time next year, we can be working collaboratively with Exco to make the FCA a great place to work and an outstanding regulator.
We want a constructive relationship with the leadership so we can make the changes that allow us to say we are proud to work here.
If you want to be part of that you can join us in Unite.
