The Nedbank Way: Using Behavioural Economics to Shift and Shape Organizational Culture

To enable an adaptive culture, Nedbank embarked on a culture transformation journey to create an environment where our people are encouraged and inspired to speak up, challenge the status quo for good, to think differently, and to act differently. Culture change is more of an art than a science, but this does not mean that solutions should not be evidence-based. On the contrary, social and behavioral science provide a wealth of research and context that should anchor culture change initiatives.

• Nedbank used behavioral economics and insights to distill seven core culture principles, with associated behaviors, which together inform ‘The Nedbank Way’.
• The Nedbank Way clearly describes the Nedbank culture and how we do things at Nedbank in a practical, actionable way that all Nedbankers can live.
• This presentation shares the Nedbank journey including the establishment of a Culture Behavioural Insights Unit and the use of large-scale random controlled trials to establish ‘what works’, and tackle barriers to culture change at a root cause level.