By Amelia Isaacs on Monday 16 January 2023
Revolut's new CultureLab team will introduce “value based behaviours” to help improve the fintech's internal culture.
Could this be the last week of Revolut’s infamous “Get Shit Done” attitude?
Unlikely. But the UK’s highest-valued fintech is set for an internal shift this week as it tries to address the issues it has faced with its workplace culture.
Well known for its no holds barred commitment to finding “execution machines” – yes, that is something it says on the culture page of its website – Revolut is now assembling a behavioural team to help make its culture more “human”.
The “CultureLab” team, as first reported by The Guardian, will help bring in a new set of “value based behaviours”.
In an internal memo seen by AltFi that will be shared with employees on Friday, Revolut said it would be “upgrading” its culture and creating this new set of values to ensure “value-driven, business output-oriented behaviours”.
While Revolut has been struggling to secure its UK banking licence for a few years now, this change has supposedly been brought in with the hopes that it will help stakeholders trust that Revolut has a healthy culture in place.
In the internal announcement, it said that employees may have previously lacked “proper exposure to expected behaviours”.
“I wouldn’t say this is a straight reaction from regulatory discussions … This is more linked to our growth and how we’re changing and the feedback we were getting from our people. We really needed to shift and change,” Revolut’s head of people experience Hannah Francis told The Guardian.
“We did get some comments that potentially it seemed a little bit more aggressive, but in the fast-paced, hyper-growth that was Revolut however many years ago.”
Francis commented that the company has “really moved on” since then and is now looking to ensure that the new value statement covers the “more human aspect” around its people.
Currently, Revolut has five values: get it done, deliver WOW, dream team, never settle and think deeper.
These values are set to remain the same, but the new set of “expected behaviours” aims to enhance the culture.
The new CultureLab team will combine both the ‘People Experience’ team and ‘Employer Branding’ team, with three new team members set to be recruited over the next few months – an operations manager, an applied behavioural scientist (someone who reviews employee feedback data) and a designer.
Revolut denied all claims that it is bringing in any psychologists to the team.
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