Cutting out the Jargon – Avoiding Corporate Language in the Workplace and Beyond

When you are new to the industry or just starting a new job, it can be difficult trying to juggle responsibilities on top of learning corporate lingo. Abbreviations and jargon are one of the most common challenges, alongside common (or not so common) turns of phrase. “Is that acronym a client, a regulation, or an instruction?” “Why are my colleagues talking about rows of ducks and hanging fruit?” What does it mean to have something done ASAP by EOD?

Over time, we may become used to everyday jargon, finding ourselves using it in our personal lives, whether accidentally or ironically as an in-joke among friends. But one thing we might always not be aware of is how jargon can be isolating to those who are not used to it.  

Last year, 57% of workers said that they have had to figure out what particular buzzwords and key phrases mean on their own, a process that takes time away from regular tasks as well as creating unnecessary stress. A further 40% admitted to having a misunderstanding or made a mistake because they didn’t know the meaning of a particular phrase or term.

Overuse of jargon can also be a barrier that prevents individuals from taking an interest in the financial industry. A recent report from Barclays Property Insights highlighted that whilst there is growing interest in economic news among 18-34-year-olds, many still struggle with understanding financial jargon.

This issue also extends to products and services. If a consumer does not understand the terminology relating to a product or service being offered, they may be put off purchasing and go elsewhere. Alternatively, they may proceed with the purchase without knowing the full details, which could potentially put them at risk of financial harm further down the line.

Regulatory Requirement

Communication with customers is vitally important and this is made clear under the Consumer Duty, in particular the consumer understanding outcome. As part of this requirement, firms must ensure that customers are given the information they need, at the right time, and presented in a way they can understand.

To help customers navigate the market confidently, firms should be:

• supporting customers’ understanding by ensuring that communications meet the information needs of retail customers, are likely to be understood by the average customer intended to receive the communication, and equip them to make decisions that are effective, timely and properly informed;
• ensuring information is communicated in a way which is clear, fair and not misleading;
• tailored communications taking into account the characteristics of the retail customers intended to receive the communication – including any characteristics of vulnerability, the complexity of products, the communication channel used, and the role of the firm;
• ensuring information provided to retail customers is accurate, relevant, and provided on a timely basis;
• tailoring communications to meet the information needs of individual customers and check the customer understands the information, where appropriate when a firm is interacting directly with a customer on a one-to-one basis; and
• test, monitor and adapt communications to support understanding and good outcomes for retail customers

Mitigating corporate jargon in the workplace

Ways of removing corporate-speak from the workplace can include the following:

• Removing any jargon from job descriptions
• Use simple and plain language in communications, instead of “let’s roll our sleeves up, guys”, say “let’s get the work done as soon as we can.”
• Encourage regular discussions and feedback between line managers and employees to ask questions if there are words or phrases they need help with understanding
• Identify commonly used phrases used within the firm and address whether alternatives can be used for better clarification
• Be mindful of employees new to the industry and might not yet understand all the terminology
• Minimise the use of abbreviations e.g. ‘by close of business’ instead of just ‘by COB’.

Inclusive language builds a shared community, it is important to be mindful of how we communicate with both colleagues and customers. This is not to say that jargon should be eliminated, however, more should be done to ensure that the meanings behind them are not entirely lost on those who may need to understand it most.

So, perhaps ‘going forward’, you might want to ‘hold fire’ on what you want to say and consider how you are saying it.

If you are already a Development Zone user, you can find a range of courses related to topics we have touched on in this article, including:

• Improving Diversity and Inclusion in the Workplace
• Inclusive Design
• Writing for Business – Use of Language
• Consumer Barriers within the Financial Services

If you are new to the Aviva Development Zone, we offer a 14-day free trial where you can try every feature and every course! Click here to find out more: https://mydevelopment.zone/