An exploration of well-being and leadership in the UK banking sector

Abstract

The aim of this research is to gain a qualitative understanding of the well-being and leadership landscape within the UK banking sector. This study will investigate what initiatives UK banks have in place to support the mental health and well-being of their employees , along with exploring and understanding different leadership styles, principles and strategies implemented by the banks. Existing literature presents leadership styles used within organisations, along with the challenges that organisations, leaders and employees face. The literature also highlights employee well-being within the banking sector, identifying mechanisms and well-being initiatives which can support employees. Finally, the literature explores what leadership styles are best applied to support employee’s mental health, well-being and for the creation of a positive organisational culture. This study was conducted using secondary research with the use of a qualitative approach. Annual reports from the top UK banks; RBS, Barclays, Lloyds, Santander and HSBC have been analysed in order to investigate what these organisations have in place to support the mental health and well-being of employees, along with the leadership approaches they adopt. The most significant findings of the research showed that all of the banks have mechanisms, leadership styles and strategies in place to support the mental health and well-being of employees. Secondly, the findings confirmed that all of the banks have well-being initiatives implemented which include focus groups, training, well-being campaigns and programmes to support their employees. Lastly, it was found that the best leadership styles which support the mental health and well-being of employees in the banking sector are transformational leadership and servant leadership.