Building trust with stakeholders: the English institutional - PowerPoint PPT Presentation

Building trust with stakeholders: the English institutional perspective Ruth Farwell Director and Chief Executive Buckingham nghamshi hire C e Chilterns ns UNIVE VERSI SITY C Y COLLEGE

Real versus Regulated * TRUST RESPONSIBILITY ACCOUNTABILITY Note: Public and private funding * Ed Smith and Richard Reeves, Papering over the Cracks? – Rules, Regulation and Real Trust, The Work Foundation Buckingham nghamshi hire C e Chilterns ns (February 2006) UNIVE VERSI SITY C Y COLLEGE

Real versus regulated trust • Real trust – Self and peer regulation – Organisational integrity and governance – Cultural – Holding each other to account • Regulated trust – State regulation – Enforcement – Dictated by rules – Reduction in responsibility Buckingham nghamshi hire C e Chilterns ns UNIVE VERSI SITY C Y COLLEGE

Shift from regulated to real trust • Regulated trust – ‘Micromanagement’ – Government intervention even with HEFCE as a buffer e.g. strategic subjects – Small and separate funding pots to influence behaviour – Tendency to manage on institution’s behalf • Real trust – ‘Strategic’ regulation; lighter touch where earned – HEFCE is an exemplar – ‘Single conversation’; reduced reporting and inspection – Longer term funding against strategies Buckingham nghamshi hire C e Chilterns ns UNIVE VERSI SITY C Y COLLEGE

The benefits and implications • Reducing the burden of compliance • Interface of institution with external agencies • Also internal benefits; benefits to the ‘business’; therefore to all stakeholders • Creating better systems and cultures • Trusting organisational culture impacts on reputation and brand image • Leadership qualities of the CEO Buckingham nghamshi hire C e Chilterns ns UNIVE VERSI SITY C Y COLLEGE