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Background
Lloyds Banking Group has a compelling purpose to help Britain prosper, particularly given the major challenges facing society, such as climate change, inequality and technological advancement. The organisation embarked on a five-year strategy supported by significant investment to drive growth and deepen relationships, with a strong emphasis on placing purpose at the centre of decision-making.
Approach
To transform the organisation’s culture and align it with the new strategy, Lloyds implemented the Grow with Purpose programme, targeting its top 300 senior leaders. The programme aimed to foster a growth mindset, personal growth of leaders and the development of skills within teams. A three-day bootcamp was designed to inspire and challenge leaders, incorporating interactive sessions, external speakers, facilitated coaching and immersive activities.
The programme began with the development of seven behavioural shifts that would shape the transformation and set goals. The Executive and the Board were involved in shaping these shifts. Regular design meetings took place with stakeholders to ensure programme material was on-message and to the highest standard. The bootcamps ran in cohorts of 30-40 people to ensure everyone could be involved and accountable, while cross-business cohorts were able to develop networks. The immersive experience included a fintech ‘dragon’s den’, product prototyping, sustainable model house building and a soapbox storytelling showcase.
Outcome
The programme was a resounding success, with 349 senior leaders attending and an impressive overall feedback score of 9/10. Participants praised the experience as the best growth opportunity at Lloyds and expressed a renewed sense of purpose and focus. They appreciated the world-class content, engaging group and the opportunity to connect with others.
Following the bootcamp, a Viva engage community was established to maintain connections and support. 35% of leaders shared commitment videos, demonstrating their dedication to driving the necessary behavioural shifts for success.
The success of Grow with Purpose led to the creation of the Catalysts Programme and ‘camp’ events, involving 6,500 colleagues from across the organisation. These events will further boost cultural change, with leaders acting as driving forces for transformation. The programme garnered exemplary feedback and sign-up rates, highlighting the commitment and effectiveness of the initiative.
Leaders report a 10-point increase in people committing to the organisation’s priorities, a 9-point increase in commitment to purpose and a 9-point increase in embracing change. Teams also reported positive changes, including a 9-point increase in perceiving the organisation as more purpose-driven.
Grow with Purpose has fostered a stronger connection between leaders, customers and customer-facing colleagues. Visible leadership and bold decision-making with purpose at the heart became more prominent, leading to improved customer experiences.
It has now become an integral part of the organisation’s employer branding, with talent attraction and recruitment activities showcasing the new culture and aspirations.