I’m fascinated by what has become the widespread abuse of the term ‘performance culture’.  For me this phrase has become inextricably linked with the drive for delivering shareholder value in quarterly increments and the “up or out” mentality which has spilled over from investment banking.

But where does this leave the zealots now that a number of the investment banking super-tankers have holed themselves on the reefs of greed, selfishness, arrogance and some fairly suspect practice? Surely it’s time for a fundamental re-think.

I would go so far as to suggest that the culture problem is a widespread issue every bit as serious as the accusations of systemic racism levelled at the police force back in the 90s. Arguably this crisis will have even more far reaching consequences.

The time has come for comprehensive internal reviews followed by an energetic re-positioning of the vision, mission and values and associated people processes within many of our leading brand names.  This should be the first step towards a re-framing of the definition of performance.

This is a complex issue but consider for a second the long established theory that an individual is at their most effective within a role some 2.5 years into the job. Or reflect on the equally established best practice that leaders should spend most of their first 100 days listening and gathering information. Contrast this with the notion of “hitting the ground running” and the obsession with quarterly shareholder reporting and year on year incremental targeting regardless of conditions. Mixed messages?

It seems a little old fashioned in these high octane times but there’s sound logic underpinning leadership best practices which call for considered, well paced decision making based upon an understanding that the decision makers will still be around when the impact of their decisions come to fruition.

Bankers, for example, used to be remunerated on the basis of loyalty bonuses and benefits packages at preferential rates.  Not so long ago, any posting on a c.v. revealing tenure in a role of under three years was viewed with suspicion.  Lift the drains on the recent recruitment drive amongst the retail banking sector and you will be greeted by whole teams made up of job-hopping former investment bankers.

Don’t get me wrong.  I very much believe in the notion of a culture of performance.  That’s why we’re all in business after all.  I just don’t believe in the notion of winning at all costs.