Earlie this week was the first opportunity many of us have had of seeing Sir Fred (is he still, Sir Fred?) apologising for his role in bringing down RBS, following the posting of the biggest loss in UK corporate history. The apology, part of a BBC Scotland documentary is, interestingly, made during the course of a shareholder meeting and appears appropriately contrite.
‘There can be no question other than that I am extremely sorry’ – hard to dispute this really.
And Sir Fred has previous here. Two years ago in front of the Treasury Committee, he was similarly ‘profoundly and unreservedly’ apologetic.
Fine words, but how do they sound to RBS employees, current, ex and potential? Has Sir Fred been sufficiently and publicly apologetic to those people whose careers were either abruptly terminated or put on hold through the well documented (not to mention on-going) struggles the bank has experienced since then?
How much would the organisation’s battered employer brand have benefited from recognition that things had gone wrong and that people at the top of the organisation were cognisant of their role in these issues?
In the current talent market, characterised by caution and apprehension, the value proposition that RBS communicates to both internal and external employment markets, would have benefited hugely from such humility and recognition. Without a shred of a doubt.
Getting to the heart of your employee mindset 