Afreen Huda is a seasoned HR professional with over 22 years of experience. She excels in strategic HR, employee engagement, and organizational culture. Afreen has influenced grassroots women towards self-dependence and led the People and Culture Integration during the Robi-Airtel Bangladesh merger.

In a recent conversation with The Global Woman leader magazine, Afreen explores the distinguishing features of high-performing finance cultures versus average ones, anticipating their evolution. She highlights leadership’s role in fostering trust and transparency amidst compliance challenges, emphasizes empowering underrepresented groups, and advocates for impactful cultural metrics.

In your view, what are the key elements that differentiate a high-performing organizational culture from an average one in the finance industry today? How do you see these elements evolving in the next decade?

In the finance industry, a high-performing organizational culture hinges on several key elements. First, it is crucial to have a well-defined vision from top management, supported by organizational values that leaders consistently embody. Having the right people with the right skills ensures progress towards this vision. Emphasizing innovation and agility allows organizations to adapt to changes and improve productivity and enhance customer experience. Embracing diversity, inclusivity, and accountability fosters a talent-rich environment that distinguishes high-performing cultures from average ones. Lastly, fostering trust through transparent information sharing, collaboration, and mutual respect is essential. Without transparency, trust cannot exist; without trust, there can be no respect; without respect, collaboration fails. In summary, an organization needs to lead by example with integrity and transparency, foster respect, and cultivate a collective of high-performing individuals to define a performance driven culture.

Considering your role in promoting sustainable employee engagement, what innovative strategies have you observed or implemented that significantly boosted employee morale and productivity without relying on traditional incentives or perks?

Today’s workforce has a different outlook on life, seeking careers that make a difference rather than just a job. To promote sustainable employee engagement, employees need a sense of purpose which can be fostered through empowering them to drive excellence. Performance bonuses and increments alone are no longer enough to sustain commitment. Recognizing achievements and highlighting performance gives employees a sense of accomplishment and motivates them to excel. Given their emphasis on self-development, involving them in strategic projects and offering learning opportunities like mentoring and coaching keeps them engaged and informed. While addressing their professional aspirations, they also need a feeling of security and comfort. To sustain employee engagement, it is crucial to build dependability and trust by understanding their needs and concerns with empathy. Providing health and mental facilities is crucial. Ideas such as how aligning personal aspirations fosters a sense of belonging. Employees need to be involved in strategic interventions, giving them projects with authority to make them feel that they are contributing to the organization’s growth.

How do you believe leadership can cultivate a culture of trust and transparency, particularly in environments where regulatory compliance and risk management are paramount?

Culture is always driven from the top. Senior leaders must lead by example, demonstrating the highest standards of integrity and zero tolerance for ethical breaches. They should clearly state expected behaviors and the consequences of not meeting these standards. Empowering teams with accountability and implementing measurable policies fosters a trust-based culture, where recognition and penalties reinforce discipline and underscore the system's importance. Leaders need to consciously demonstrate unbiased attitude by encouraging diversity and inclusion across their teams, coaching them on code of conduct and stakeholder management. In a business where we deal with people’s money, it is of paramount importance that trust is not tarnished even in the slightest manner. By embedding these practices into the organizational fabric, leadership can foster a culture where trust and transparency thrive, even in the most regulated and risk-sensitive environments.

Given your influence in fostering economic independence among women at grassroots levels, what are some practical steps finance industry leaders can take to empower underrepresented groups within their organizations, ensuring their voices are heard and contributions recognized?

To empower underrepresented groups, it’s crucial to understand the socio-economic factors influencing their freedom and empowerment. Women are considered for stereotypical roles, thus narrowing down their potential to contribute to diverse areas within an organization. Leaders must eliminate this unconscious bias and recognize incumbents for their skills and competencies. Respecting the natural journey of womanhood is essential. Facilities like maternity leave, crèches, menstrual leave, and safe transport should be in place by default. Hiring should not be influenced by a woman’s potential life events- getting married after hiring, having kids, so on and so forth. If someone is a talent and cultural fit, (s) he should be hired or promoted regardless of gender. Organizations should have platforms for women to voice concerns. Platforms like women’s forums and Prevention of Sexual Harassment (POSH) committees, has helped women to come forward and take up challenging positions. This will lead to increasing diversity in leadership positions. Women must have higher aspirations and pursue careers rather than just looking for employment. They need to proactively develop themselves to prepare themselves for leadership positions.

As organizations strive for a value-based culture, what role do you see leadership development playing in embedding and sustaining these values throughout different levels of the organization, particularly in finance?

A value-based culture is driven by a clear vision from the top. Leaders must embody this vision and define the behaviors that will cultivate such a culture. Effective communication is crucial; leaders should clearly articulate performance expectations, provide necessary information, and recognize dedication and commitment.

To foster communication, organizations should implement mentoring programs, step-down meetings, town halls, and informal gatherings like coffee huddles. Leaders need to "walk the talk," serving as role models who inspire similar practices.

Consistency in attitude, striving for excellence, and celebrating successes are key to sustaining a value-based culture. Through these efforts, leadership development plays a pivotal role in embedding and maintaining the organization’s values, especially in finance.

How do you advocate for measuring the impact of cultural initiatives within an organization, and what metrics do you find most insightful in demonstrating their effectiveness?

Ideally cultural initiatives are taken and considered as value creation if we see positive shifts in the organization’s top line growth.

 Measuring cultural initiatives requires a structured approach that combines qualitative and quantitative metrics. Key metrics include employee engagement surveys, turnover rates, and performance metrics.

Employee Engagement Surveys: These surveys provide insights into how employees perceive the culture and their alignment with organizational values. High engagement scores often correlate with a positive cultural impact and business performance.

Attrition Rates: A significant decrease in attrition rates can indicate a successful cultural initiative, reflecting higher employee satisfaction and loyalty.

Performance Metrics: Improvements in productivity, quality of work, and customer satisfaction can signal the effectiveness of cultural initiatives.

Additionally, qualitative data from focus groups, interviews, and feedback sessions offer valuable insights into the nuances of cultural impact. Combining these metrics provides a comprehensive view of how cultural initiatives are influencing the organization.