Michael Rauh of Chelsea Groton Bank shares how his bank launched the “160 Acts of Kindness” campaign as well as how banks can learn solid lessons in talent engagement from companies outside the industry.
Rather than just focusing on cost-cutting in their branches, bankers need to improve the performance of their branch workforce through predictive analytics.
Bank managers implementing an open office environment need to also change the organization’s culture rather than leaving it up to individuals to cope with the change.
Restoring the ‘fun’ in banking requires bringing back appropriate risk taking and innovation.
A detailed (and enforceable) business performance management strategy can help banks meet their performance goals.
Financial institutions need to pay their employees enough to attract good talent but not to the point where it hurts labor efficiency on a relative basis.
Many retail banks are missing the chief goal of onboarding, which should be to establish the bank as the customer’s primary cash management provider.
Rather than constantly focusing on technology to improve productivity, bankers should look to their own ‘knowledge workers’ – who are not always deployed in the most efficient manner.