Good corporate governance requires integrity and an employee focus. Both are lacking at Royal Mail
The Institute of Directors (IoD), where I am a branch chair and ambassador, teaches directors that the three principal tenets of corporate governance are accountability, integrity and transparency.
It’s something management teams would be wise to heed, as Ricky McAuley, Operations Director at Royal Mail, found out this week during an interview with BBC Breakfast’s Charlie Stayt.
In the interview about planned strike action by workers at Royal Mail, McAuley was forced to admit that bosses would still be getting profit bonuses while its Communication Workers Union (CWU) members would not be receiving a cost of living pay increase. It might have played well round the Boardroom table but it fell flat on national TV.
Corporate purpose isn’t a nice to have and reputation can make or break a company.
On its jobs page, Royal Mail says its values are to Be Positive, Be Brilliant, Be Part Of It.
McAuley spoke about Royal Mail wanting to be the best employer in its sector. Sadly his words don’t match the organisation’s behaviour. If Royal Mail continues in this vein, no one will want to Be Part Of It.