Can mindfulness really work in the world of corporate finance? Caitriona Whelan says it can
Meditation and breathing techniques might not be the first thing you think of when it comes to the world of banking, but the introduction of mindfulness training has been hugely supported at the Royal Bank of Scotland (RBS). In the run up to next month’s Mind & Matter Leaders event, panel speaker Caitriona Whelan, head of compliance and control at the bank, reveals the impact of mindfulness on RBS’ employees.
How were you first introduced to the concept of mindfulness?
I practise yoga and, as a result, I was introduced to meditation and mindfulness some years ago. Rising up the ranks in an organisation, you take on more and more responsibility, and the stress is, to a large extent, compounded. I recognise the value of learning to breathe – it can be as basic as that. It’s about taking that time out, taking a breath and pausing; the value of that is almost immeasurable.
What ideas have you introduced at RBS?
As a senior manager you are expected to coach and mentor people generally – not only on wellbeing, but also from a wider career perspective. Mindfulness is one of the tools that I share with people. I am very much an advocate of managing how you use your energies by, for example, removing yourself from a toxic environment, so you are surrounded by likeminded people who are positive and aren’t going to drain you.
But it’s also about utilising your energy in a positive manner and moving away from thinking negatively about yourself, your environment or other people. Worrying is a complete waste of energy – it saps you. These are some of the key messages that I try and weave into my coaching. My own team say that I seem very calm, but this has come over time.
What initiatives has RBS supported on a wider scale?
Within my division – payments – my boss is also the wellbeing sponsor for a collective group of businesses within RBS called services. She hosts ‘town halls’, and has asked me to help facilitate a one-hour session on mindfulness in October, for example. This will be available to those working in the payments division – 800 people across the globe. They can phone in, join the webinar or attend in person.
My colleague Mark Randall (who is also speaking at Mind & Matter Leaders) has also been running regular sessions – around two per day, three days a week – which staff can attend, and which the bank have been very supportive of. I am also looking to bring in the company Mindfulness at Work to run at session in-house in the near future.
What benefits have you seen from implementing mindfulness techniques during your first nine months at RBS?
There have been a number of things that I have noticed within my own team: the level of absenteeism is now zero, for example, and there is more enthusiasm and energy from my colleagues. When I started there was one particular individual who was very ill and very stressed. I spent a lot of time with him, coaching him and working on exercises such as breathing techniques, and he is now a completely different person.
For me, personally, it’s been a lifesaver – and it doesn’t require a whole lot of effort. You don’t have to go out and buy Lycra shorts and a bicycle, for example. The only investment is your time. And the end result, for me, is that you recognise how precious your time is and you manage it more effectively.
How can organisations go about introducing mindfulness to their workforces?
It’s all about taking baby steps and introducing the concept slowly, because to a lot of people it would be alien subject. Organisations could bring in an expert in that particular field, who could talk through what mindfulness is, what the benefits are, and why people should be encouraged to practice it – but without it being mandatory. It is a tool that can help you in both your personal life and your career, but it isn’t for everyone. When speaking to my team, or wider circle of friends and colleagues about mindfulness or meditation, it’s all based on my own personal experiences, which I think is really important.
Support from the top is also vital. If organisations are going to introduce something like this it’s important that they truly believe in it.
Mind & Matter Leaders takes place on 14 October at the East Wintergarden in Canary Wharf