Just over a year ago I wrote about the rise of the snowflakes. Given there has been snow on the ground all week, it seems like a fitting time to revisit the topic.
Although as we approach Christmas these should bring joy and offer a childlike sense of magic, this year the persistent snowflakes bring fears about high energy prices as many struggle to heat their homes and a general sense of inconvenience.
In general, the word snowflake has become an almost derogatory term in recent years, generally used in reference to young people being overly sensitive and too easily offended.
However, my view remains the same. Rather than dismissing snowflakes, the wealth management sector should embrace them.
Younger generations call out bad practices and ask why things are done in certain ways – something which is essential if businesses are to move forward and continue to thrive.
Diversity is celebrated and climate change is taken seriously by these generations.
Of course, these things are true of many older members of the wealth management community too. This is particularly important for the sector as these individuals are often key decision makers and can drive progress quicker than younger employees can.
If being a snowflake means caring about diversity & inclusion; wanting to make a positive impact; caring about the environment; and being sensitive to people’s mental and physical wellbeing, then I will proudly declare myself a snowflake.
Incorporating all these things into corporate life will of course change working practices. Change can be scary, particularly for those that have become very set in their ways.
Fear is not a reason to put off making these improvements though. The snowflakes are becoming more persistent and will demand changes are made.
Snowflakes are incredibly powerful after all – just look at the disruption we all faced on Monday morning.
Once viewed as an industry heavily resistant to change, it seems the wealth management sector is shaking this label and is fast evolving to keep pace with the ever-changing world.
It is always better to lead the way than to be forced into rushed change because you are found to be lagging behind your competitors.
Perhaps now, for that reason, it is time to embrace the snowflakes. They are not going anywhere…
