Management / Vince Cable plea on corporate culture

Vince Cable plea on corporate culture

Further action is needed to improve corporate culture, according to the Business Secretary.

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Vince Cable said a summit will be held later this month aimed at discussing moves to put transparency and employee confidence at the heart of business.

Business and union leaders and academics will be invited to the event to discuss how improvements can be made without the need for further regulations.

“Government has worked hard to set the right frameworks within which companies can improve their corporate culture. I have done a lot to address and improve corporate behaviour by prompting a shift away from short-term thinking – reforming executive pay and putting a greater emphasis on active stewardship by investors.

“However, improving corporate culture – so employees feel valued, listened to, and confident about raising concerns – requires further action.

“Recent corporate scandals point to systemic bad practice at the heart of some businesses,” he said.

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