On high-pressure trading desks, the job comes first and culture can often be pushed to a distant second, but building that winning culture and creating an environment which not only supports your team, but also gives them a sense of purpose has proven to bear fruit in engagement, retention, and results. We assembled a group of Head Traders from across London to pick their brains on strategies which aren’t just impactful, but also realistic in an environment where time away from desks can come with high penalties
Key Discussions and Insights
Understanding and Defining Culture
It’s important to define what we mean by ‘culture’ before attempting to influence it. One Finance Hive member suggests that culture is ‘what the team does when the manager isn’t in the room’, i.e. what attitudes and behaviours are embedded in the team when they aren’t under pressure to perform a certain way. A thriving culture is built on trust, inclusion, growth, and a sense of impact. Fostering an environment where everyone feels valued and respected, and where diverse opinions are heard, is vital for a winning team.
Diversity and Inclusion in Finance
Despite significant efforts to diversify finance, the reality is that it is still dominated by a certain demographic, and work is still needed to open up opportunities to talent coming through less traditional routes. Many senior Finance Hive members have committed their own time to supporting charities which aid gifted children from disadvantaged backgrounds, helping them transition into the industry. Equally, leading firms are paving the way by addressing DEI, with working groups and clear goals in place to deliver change.
Inclusion in Action
Younger associates can be more effective when they are not overloaded with information or expected to balance time at desks with demands which take them away from their role. Informal learning opportunities and short, engaging interactions can help gauge their interest and potential. In addition, Finance Hive members have had successes in pairing younger associates with more seasoned traders for short, but intensive mentoring sessions which allow them to share experiences without consuming too much of their time.
Supporting Growth
Encouraging traders to pursue their interests within the framework of the business has been proven to support a culture of personal and professional growth. Offering (even if it isn’t used) a regular half day for improvement and organising meetings on relevant topics can aid DEI goals, as well as boost education and engagement for the team.
Implementable Strategies
Strategy 1: Mentorship Programs
Establish mentorship programs that pair experienced traders with younger associates. Focus on building relationships, offering guidance, and creating opportunities for mentees to work on meaningful projects.
Strategy 2: Inclusive Leadership
The role of leaders should not be overlooked. Leaders should lead by example, using inclusive language and actively seeking feedback from all team members. It’s important to create an environment where diverse perspectives are valued and everyone feels included.
Strategy 3: Flexible Learning Opportunities
Offer a mix of formal and informal learning opportunities. Complement online training with personal stories and experiences shared by team members to make the learning process more relatable and impactful.
Strategy 4: Structured Team Building
Although carving out time from the working day is tough, organise team-building activities that go beyond the typical work environment. While it’s hard to juggle with the needs of different demographics, activities can be planned well in advance to ensure maximum participation.
Strategy 5: Balancing Work and Personal Life
Acknowledge the challenges of balancing demanding roles with personal lives, especially for those with families. Where possible, create flexible policies that allow team members to manage their time effectively without compromising their career growth.
Conclusion
Building a winning trading culture means taking a holistic approach that integrates personal growth, diversity, and inclusion with business objectives. Putting culture and team development higher on the agenda may feel tough given the demands of the desk, but by understanding and defining culture, addressing the challenges of diversity, and implementing practical strategies, organisations can create a thriving and inclusive trading environment. Finance Hive members emphasise the importance of leadership, mentorship, and continuous learning in achieving these goals and creating a thriving team culture.
