Employee Engagement – how to improve in banking?
Posted on Tuesday, August 23rd, 2011
With programs that measure service quality in some form, the simple benefits of positive reinforcement are often forgotten. Quite simply, if someone in a branch only ever hears from head office when they are non-compliant, pretty soon a culture of “us in the field” versus “corporate and their flavor-of-the-month initiatives” takes over.
A good banking CEM program involves daily alerts on service wins and these wins need to be celebrated in branches every day. What’s the positive result of these efforts? It’s one of many ways to help with culture changing initiatives and truly drive business results improvement. Empathica’s finding demonstrates that the impact of one staff member doing something positive and memorable can result in a 15-20% lift in satisfaction ratings. Employee engagement is also reinforced by employee enablement.
A true CEM program should include prescriptive reporting which essentially involves directing the right questions to customers depending on the branch they visited, and dynamically producing reports for these branch managers depending on the service quality issues they need to tackle. In simple form, this can mean a “getting the basics right” survey for customers visiting branches that are struggling versus a “value added” set of questions to customers of branches that achieved basic requirements and are truly starting to differentiate in the marketplace. This dynamic approach much improves leveraging the voice of the customer. Real time reporting then must allow employees to see how they are doing on the issues of importance to their branch, where their challenges lie, what they need to do to improve, and if the changes they make are making a difference.
Download this free PDF whitepaper for advice on leveraging employee engagement for customer experience management at your retail bank, “Improving Customer Satisfaction in Retail Banking”.
This entry was posted in What are the Best Practices for Setting Up & Running a Program and assigned these Tags: banking, CEM, employee engagement, prescriptive reporting, VOC, voice of the customer. Bookmark the permalink