Recruiting, hiring and training staff is costly. Rethinking your approach and engaging new hires makes the investment pay off.
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.
To reverse the ‘brain drain’ of critical knowledge that occurs when baby boomers retire, financial institutions are looking to harness social media to retain that vital expertise.