Jamie Frogale, director of learning and development at Arlington Community Federal Credit Union, explains ways in which high-performing institutions support their employees, and benefits the organizations see as a result.
As new banking technologies and demand for changing service models drive transformation at the branch, employee engagement can play a key role in optimizing sales and service delivery.
When bankers seek outside advice for improving their institutions, they need to follow through on the recommendations they agree to implement.
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.