1. Cultural
Transformation

2. Who are we?
Liz Murphy,
Group head
Talent and culture
Melissa Dean,
Director Transformation Management,
Wealth Management
Susan Turton, Organisational
effectiveness, Emerging Markets
Serena Naidu, head of Pleuntje van Meer
Employee Engagement, External Consultant/
Nedbank Coach

3. Our agenda
Old Mutual’s journey of transformation: a practitioners’ perspective
 Wealth: building capacity and top team alignment
 Group: taking the work group-wide
 Emerging markets: a rolling start
 Nedbank: Year-year sustaining the journey
 Q&A

4. Design principles
Old Mutual’s journey of transformation: a practitioners’ perspective
1. Strategy, Structure, Culture
• Clarity of direction => vision& purpose
• Organising to match the above
• Quality of interaction => capability& mindset
1. Not a roadmap => Initiating waves
• Leadership
• Building internal capacity
• TTT

5. Wealth: Building Capacity & Top
team alignment

6. Alignment requires a shared experience:
From: Non-Aligned Group To: Aligned Team
• Hidden agendas • Transparency
• Empire building • Collective
1. Expanded self-
responsibility
• Silo thinking awareness
• Dialogue
• Slow decision making 2. Deeper
understanding of • Decision making
• Lack of each team • Accountability
innovation/creativity members reality
• Blame 3. Joint direction
It has to get personal. “Safe” environment, based on trust;
A superficial, conversation will make Skilled facilitation; A well designed
things worse. and proven process

7. Roles in Culture Transformation
Roles responsibilities
ExCo -Walk the talk, be a role. Keep the transformation programme honest
-Accountable for culture shifts and healthy behaviours
-Not to drive cultural transformation as an HR intitiative
Culture Leads -Walk the talk
- Mentor and challenge top leadership, facilitate conversations
-Skilled in applying methodology and extensive toolset for
transformation
- Not allowing blame and dysfnctional behaviours
HR - Act as Culture Transformation facilitators+ knowledge of CTT
assessment& facilitation
-Trained as Culture Leads or guides and operate hand-hand with
business leaders
- Not to own the culture agenda nor to drive the plans- this belongs to
the business

8. Taking the work Group-wide

9. Getting started….
Global
Financia
l Crisis New Vision: One Group with the
customer at the centre
Values in practice: ACT NOW!
leadership actions
Personal Values
Individual values assessments
and personal values
Metrics and Case studies
...building curiosity, making it safe

10. Engaging everyone....
2011 2012
Response rate: 70% Response rate: 73%
Individual Group values
business ACT NOW!
cultures
...Connecting over controlling

11. Emerging Markets: a rolling start

12. The OMEM Story
1. Started introducing the Culture Tool in 2011
 Education and awareness
 Building capability
2. Year two (2012), Leadership alignment
 Work together to strengthen the culture
 Tell the story to the rest of the business
 Role model what this journey is suppose to look like
3. Year three (2013) will be about building a broad Leadership Transformation Programme
 Engage a base of Culture Leads to support Leadership
 Shift and build the culture
 Challenge
 Create awareness

13. The OMEM Story: creating engagement
1. Our culture story has been one of celebration
 Embracing the ethos
 High Participation
 Great Results
Key Questions: how do we strengthen our results going forward?
2. Many Employee Engagement drivers and a compelling EVP
 Key shifts: Best Employer SA and Top Employer Africa as two examples
 This recognition contributes to our culture shift
Key Challenge: continuing to strengthen our Employee Engagement drivers into the future

14. Nedbank: year-year sustaining the
culture

15. Current Culture Evolution
2005 2006 2007 2008
1. cost-consciousness 1. cost-consciousness 1. client-driven 1. accountability
2. profit 2. accountability 2. accountability 2. client-driven
3. accountability 3. client-driven 3. client satisfaction 3. client satisfaction
4. community involvement 4. client satisfaction 4. cost-consciousness 4. community involvement
5. client-driven 5. results orientation 5. community involvement 5. achievement
6. process-driven 6. performance driven 6. performance driven 6. cost-consciousness
7. bureaucracy (L) 7. profit 7. profit 7. teamwork
8. results orientation 8. bureaucracy (L) 8. achievement 8. performance driven
9. client satisfaction 9. teamwork 9. being the best 9. being the best
10. silo mentality (L) 10. community involvement 10. results orientation 10. delivery
3 matches 4 matches 4 matches 5 matches
Entropy 25% Entropy 19% Entropy 17% Entropy 14%

16. Current Culture Evolution
2009 2010 2011 2012
1. accountability 1. accountability 1. accountability 1. accountability
2. client-driven 2. client satisfaction 2. client-driven 2. client satisfaction
3. client satisfaction 3. client-driven 3. client satisfaction 3. client driven
4. cost-consciousness 4. teamwork 4. brand reputation 4. brand reputation
5. community involvement 5. brand reputation 5. achievement 5. teamwork
6. achievement 6. being the best 6. teamwork 6. environmental awareness
7. teamwork 7. achievement 7. environmental awareness 7. employee recognition
8. employee recognition 8. commitment 8. commitment 8. performance driven
9. being the best 9. community involvement 9. being the best 9. community involvement
10. performance driven 10. cost-consciousness 10. cost-consciousness 10. people-centred
6 matches 6 matches 6 matches 5 matches
Entropy 13% Entropy 13% Entropy 11% Entropy 10%

17. Overarching Conceptual Framework that continues to
shape our journey…
The lessons that we have learnt along the *Overarching Change Methodology
way guide our approach…
•Cultural change needs to be
supported by various levers. From an Transforming Intact,
HR perspective, all initiatives are Transforming the Individual Natural Teams
geared to enhance our culture journey
•The transformation of 2000 leaders
through LFDG has proved to be a
tipping point for a major change
• This programme is being cascaded to Personal Leadership:- (e.g.)
the next +/- 7000 in the next 3-5 Leading for Deep Green (LFDG) Team Leadership:- :(e.g.)
Coaching & Mentoring Leading for Deep Green (LFDG)
years, this can only strengthen our Diversity Management Programmes
Talent Management
gains
Transforming Organisational Culture Transforming Inter-Team Relationship
•Measurement still matters- ‘what we
can measure we can manage’. Next
step is to measure behaviours linked
to our values and leadership
philosophy
Strategic Context
•Cultural capital is the outcome of
everything that we do and continue to
Communities of Leaders :- (e.g.) Lateral Leadership:- :(e.g.)
be accelerated through 3 levers:
Transformation Succession Planning (cross-cluster)
•Values-based leadership, LFDG Systematic themes Talent Management
strategy and transformation
*Change Framework as adapted from Leading For Deep Green

18. QUESTIONS?? Rational/ Thinking
Emotional/ Feeling
Performance/ Action
Orientation