E.-M. H. : We've taken a simi lar approach. We've taken Societe Generale's traditional values of team spirit and innovation and added responsibility - which you just talked about - and commitment, which is all about the right style of behaviour. More specifically, beyond leadership and the topic of inspirational management, what do you do to boost the commitment of employees within your company? TEAM SPIRIT J.-J. H. : First of all, you have to create a climate of trust that generates positive energy. Then, in order to put into practice what the English like to call "empowerment", decisions have to be taken as closely as possible to the local level. In other words, TRUST decisions without going through a dozen committees and waiting for a chain of people to give their approval, this generates motivation and even a climate of enthusiasm. This is the philosophy we are trying to promote. The change is gradual, because people have difficulty letting go of the top-down approach. Transforming organisations in this way can make things easier. Recently, we were able to establish cross-functional teams aimed at our different clientele segments without compromising our function-based matrix organisation structure, in which areas of expertise are clearly defined. This has allowed us to make decisions more rapidly, since we are closer to the local realities of our markets and the world of our customers. E.-M. H. : Empowerment has also become a key topic at Societe Generale. It is seen as a way of bridging the gap between the decision-making process and the "on the ground" setting where value is created. This means finding a way to be simple in organisation structures that have grown in complexity due to the everstricter LOCAL REALITY regulatory environment surrounding our businesses. Within the context of empowerment, we also need to ask ourselves about the potential liabilities of the European culture of perfectionism, in which only the perfect result is seen as satisfactory. In Japan, for example, error is seen as useful input that can be used by the group to analyse the cause and take action to prevent it from reoccurring. Only when an error is repeated does it become a fault. J.-J. H. : I understand the pride an expert feels in striving for perfection. But this goes hand in hand with the fear that errors will be punished, which stifles action. We have to change this. We have to look LEARNING you have to encourage proximity management. Senior management comes in when there is a complex issue or problem, or when you have to decide between various options, but it's up to the teams to manage day-to-day issues. This produces transparency and, of course, integrity and respect for values. When teams are able to make at mistakes as part of the process and as an opportunity to learn. Allowing errors means admitting difficulty and coming to grips with problems on a day-to-day basis by seeking out effective solutions. By creating the conditions for authentic, intellectually honest dialogue, management can significantly bridge the gap between itself and its teams, which is an issue in large organisations. It can also spread positive energy throughout the organisation, which is a recurring theme in all of this! 51 I SOCIETE GENERALE 2013-2014 Swiss Re is an insurance and reinsurance company founded in 1863 in Zurich, where its head office is currently situated. In 2013, Swiss Re, the world's second-largest reinsurer, had revenue (premium and commission income) of $28.8 billion and net income of $4.4 billion.
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