Should "Secret Boss" be compulsory in Financial Services??

For a while I have enjoyed the "Secret Boss" documentaries, both the UK and US versions. For anyone that does not know the format it goes this way. The "Boss" (usually the CEO) goes undercover for a week in his/her own company. They assume a new identity including visual image and work with a number of low level employees across their organisation. This is usually under the guise that they are part of a TV programme following someone changing career or similar.

At the end of the week those same employees are called to head office and the ploy is revealed. Most employees come out well, hidden gems if you like, and are "rewarded" in some way. Of course the employees will have been carefully picked and I am suspect less successful encounters may be editted out, but still it is impressive and often surprising to the CEO.

The key is the feedback and insight the "boss" gets about what is right and not so right about the company. They do seem to gain a degree of humility and certainly better understand the human side of their company (the behaviours, values, frustrations and potential) as opposed to the numbers contained in spreadsheets that are their more usual fare

This may sound wrong, but some of the shows have been quite moving and have certainly shown how highly employees value recognition and how loyal many are.

Last night the "Boss" was head of a nightclub group. He admitted that it was over 18 years since he had put in a full shift in a nightclub which just shows how far he had moved from the engine room of his business. I suspect he is closer to the norm than the exception in this.

I did feel uncomfortable about the reliance on selling cheap alcohol as a way of enticing young clients in, including drinks at 80p in places and "but one, get two free" in others. The problems of alcohol abuse are well documented and his discomfort with the result of his nightclubs drive to bring in business in a difficult economic environment was clear. Many of his staff shared that concern, but keeping the businesses afloat and staying employed was their main worry.

It appeared that in at least one case his view on the importance and viability of a venue was affected by his encounter with the people.

As the programme ended I could not help but reflect on the parallels with banking right now. There is a troubled public image, some organisations are uncomfortable financially and there are many, many good people working hard to keep the wheels moving. Yet I wonder when was the last time a CEO (or other senior manager) did anything more than a "Royal visit" - ie breeze in, say a few words, shake a few hands, breeze out - within their own organisation.Would any of them invest a week of their time to go undercover and meet the rank and file on an equal level?

Would the heads of Investment Banks have looked at their organisation differently. Indeed what about Investment Management and Insurance companies? I know that the regulators do have to approve certain roleholders as being fit and competent, but maybe they should require top executives to take a "secret boss" week every year or so? It could not be exactly like the TV format, but I am sure it could be done and I think it would help rebalance some important aspects of the culture.