Make no mistake: efficiency is a competitive edge. Consider these tips when fine-tuning your processes.
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 improve efficiency, bank managers should focus on teaching employees how to regain the 40% to 60% of their time they lose to interruptions.
Every bank has idle staff time but the more productive institutions handle it with appropriate scheduling and training programs.
Managers who avoid taking action can leave an institution with underperforming employees who drag down overall results.
Encouraging branch staff to ‘go the extra mile’ for customers requires motivational leaders who are accountable for results.
Wells Fargo uses predictive analytics to hire employees better able to meet its performance requirements and fit into its corporate culture.
As the role of the branch changes, banks are increasingly moving to a 'universal' model for their branch staff.