Strolling through social media earlier this week, I came across someone who specified their role title as ‘Sales & Marketing Compliance Manager’. I pricked up my ears as this is such an unusual job title. Sales / Marketing and Compliance tend to be seen as the ‘chalk and cheese’ of financial services and are often seen to rub each other up the wrong way.
We’re sometimes contacted by firms that ask for our help to put things right. When we drill down to find where the issues started, we discover that it’s often down to the ‘sales versus compliance’ culture. There is low-lying disharmony and an ‘us versus them’ feel as soon as we walk through the door.
So, how to work better together? It’s all very well suggesting that you sit down over coffee and ‘talk it out’, but does that really work?
Here are some tips to help you to have a more harmonious working relationship that works for everyone:
- Find the common denominator. Sales / Marketing and Compliance both want to be praised and rewarded for their performance. Both want recognition for the hard work they put in to make the company a success. Both want the company to do well.
- Recognise the mutual relationship you have. Neither role can exist without the other and each one has an important role to play in the success of any business operation.
- Compliance is sometimes called the ‘Business Prevention Unit’ and Sales / Marketing roles are chastised by compliance teams for wanting to do things in their own way to bring in business. That kind of thinking has to stop. Instead, spend ‘a day in the life of’ – shadow each other for a day. It’s likely that will be all you need to set the record straight, because this exercise will give you important insight into the challenges that each role faces on a daily basis. Call it mutual respect, if you will.
- Ask each other what you can to do help the other and agree on just one thing that you will both change.
- Now that you’ve had some time to think, arrange to meet on a regular basis to listen and to talk to each other. What’s working? What isn’t? What could be improved?
If you want us to help you to get your conversations started, you can contact us via our website www.chameleoncompliance.co.uk, telephone 07880 483 806, or email us at email@example.com.