BAI Online

Deborah L. Bianucci

Building a Clear Path From Strategy to Front-Line Execution with the Customer

BAI’s new The Frontline Experience research couldn’t be more straightforward: “Perceptions of inefficient, unfriendly and poorly trained branch staff are key drivers of dissatisfaction” among customers. Further, “over 25% of frontline branch staff is dissatisfied with key components of their employers’ sales process, training, goal-setting, staffing and compensation programs.”

The intersection of such widespread dissatisfaction, from customers and employees alike, spells trouble for the elaborate relationship-building efforts banks have launched in recent years. Our research explores several means by which banks should address this problem, including taking a more relevant and actionable form of customer segmentation and realigning employee goals and incentive programs. This in itself is no small task.

In addition, considerable effort should be put into frontline training, which needs to go beyond basic product information and service quality education to address the finer points of communicating with customers and detecting differences in customer preference for different customer segments. Such a comprehensive training program, when combined with serious efforts to provide a more supportive work environment, is absolutely necessary to improving employee performance on the front lines.

BAI’s study, The Performance Impact of Training and Development in Retail Banking found a link between the investment in training and high performing organizations, noting that “organizations with higher customer satisfaction do a better job of maximizing the impact of their training investments and managing training related resources.” When financial services companies focus on improving their employees’ skills, understanding their points of view, and addressing concerns they might have, employees are better able to execute on the front line. Training helps bridge the gap between the growth strategies envisioned by executives and the reality actually experienced by customers. Frontline employees, the critical link between the expectations of executives and customers, are the ones who make strategy happen.

In our work with retail financial services executives, we see a distinct increase in the attention they are paying to the importance of training to prepare their frontline teams to meet different customer needs. One large bank executive told me last month that if she had to choose one thing that truly improves results over the next 12-18 months, it would be a more effective approach to product, sales and customer service training for the front line.

For more information on BAI’s study, The Frontline Experience.

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