Imagine being asked to place your life in someone else’s hands. You would want to know just about everything about that person, right? You would want to know they were trustworthy, honest and with the necessary integrity to assume responsibility for your life. It’s a scary thought.
But here’s something you don’t have to imagine that might be just as scary. How about putting your reputation, your career and your entire compensation package in someone else’s hands? Welcome to the FCA’s Senior Managers and Certification Regime!
From 2018, the UK Regulator will widen its application of the regime across the financial sector to include banks, brokers, hedge funds and asset managers. It will mandate that senior managers place their reputation, career and compensation into the hands of their staff in an effort to radically improve the culture and conduct of an industry that has been tarnished by errant behaviour and lack of management accountability.
The obvious question here is how these senior managers will ever actually be able to know exactly what their staff are doing? Or will they simply blindly assume responsibility for their actions and later claim ignorance after the fact if it all goes wrong? Because if you think putting your reputation in someone else’s hands is scary, just think how scary it is to be given the supervisory role without any tools to help you undertake the task.
Technology HAS to play a part here and we believe it is the ONLY way to ensure transparency and fairness between the senior managers and their staff – which in the case of the larger organisations could run into thousands of people.
This technology needs first and foremost to keep everyone honest, but it also needs to be capable of quickly and easily identifying the facts upon which good decisions can be made.
At VoxSmart our technology can locate, record, store and analyse all user communication and behaviour so that senior managers know where their staff are, who they are with and – most importantly – what they are communicating about at all times. Conversations that can be monitored or searched via person, company, date, trade or keyword.
That might just make the whole process a little less scary for all parties – knowing that you can provide the evidence that proves both good managerial oversight and good staff behaviour.
VoxSmart; No games, just sports.