At Dana, we were pleased to end 2020 with some positive recognition, making Pensions & Investments’ list of best places to work for the ninth straight year. We celebrate that news, and are sharing it with our clients, for a simple reason: Culture matters.
In our view, a positive work culture doesn’t just benefit employees within a company. It also translates into a better client experience. This is likely true for any industry, but we believe it’s particularly important to asset management.
There’s no way to put a number on it, but we believe stronger culture plays a role in improving investment outcomes. A good culture means analysts and portfolio managers stay with a firm for the long term. This is far preferable to a revolving door, where analysts are on the move and sectors or industries are left uncovered while new analysts are sought and trained.
Retention isn’t the only way culture improves the investment process. In a positive work environment, team members feel more comfortable sharing investment ideas - or pushing back to make sure an idea is fully fleshed out before a stock makes its way into a portfolio.
At the firm level, we believe a positive work environment matters because it keeps everyone working together as a team. Management can focus on the big decisions that impact clients and in turn, trust employees to understand their respective role in pushing toward those objectives, regardless of how small or large the task is.
We also see the value of culture in the consistency of client service. We have clients that have invested with Dana for 20 years. They know our people on a personal level, and we know them. At the end of the day, those relationships matter. We celebrate our culture because it’s part and parcel to keeping those bonds strong.