In a speech at a recent conference, Sheree Howard, Executive Director of Risk and Compliance Oversight at the UK Financial Conduct Authority (FCA), emphasized the importance of fostering an environment where employees feel empowered to speak up and challenge their superiors. Howard argues that such a culture, which some would describe as having "psychological safety," is essential to stop companies from failing.
She urged leaders to create an atmosphere of fearlessness rather than fear, allowing for open communication and the ability to question decisions. "Being able to challenge – even the boss – is crucial," Howard argued. “Employees should feel free to speak up and even more importantly, bosses should feel compelled to listen up.”
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