Effective measurements
Banks can help their employees, managers, and teams make timely and informed decisions not by asking them to robotically move from one step to the next but by empowering them to analyze marketing and customer data, internal reports, and trends. Then, individually and in teams, employees can study and evaluate metrics to quickly make decisions and guide staff through the jobs to be done. Are processes getting faster? Are operations generating more resources? This eye on internal productivity, performance, and capacity can be a cost-effective way for banks to mark progress.
Intentional collaboration
When faced with problems to solve, a bank culture of teamwork allows employees to immediately collaborate on solutions. The best environments help front-office business lines automatically and instinctively work with the second line and other appropriate departments to define issues, strategize around goals, and more clearly coordinate actions. Employees that are actively involved in coordinated, team-based solutions tend to be more engaged, and they might report more satisfaction with their jobs and stay with the organization longer.
Embedded tools
Collaboration and information are foundational to supporting strategic execution, but offering the right information and tools is essential for getting the job done. Technology platforms, automation, and third-party partnerships can support departments and teams in their day-to-day work of serving customers and with projects that create the next level of capabilities. Even customer service can help boost profitability through the use of expected and easy-to-use self-service products and channels that don’t need immediate human attention.