Why Is It So Important to Hold On to Low Cost Deposits [VIDEO]
Low-cost deposits are the ultimate margin advantage. Discover how top 5% performers attract them consistently—and why most banks fail to compete.
The Harvard Business Review suggested that we may soon be seeing the onset of the “Chief Culture Officer.” Brothers and sisters, can I hear you say Hallelujah?
Think about it. Culture is the leading predictor of future growth and profitability. Let me repeat that. Culture is the LEADING predictor of future growth and profitability. Not new customers. Not premium pricing. Not customer service. Not expense cutting. It’s culture.
So I’m glad the Harvard Business Review finally caught up with the obvious driver that has turned struggling companies around and brought the prosperous ones to a higher level.
But most companies will continue to do it all wrong.
They think it’s about the culture survey. It is NOT the survey. It never has been the survey, and never will be. You can’t change the heart of an organization by measuring. You do it by doing it.
You do it by creating a sane workplace where people are good for each other and for the customers. A place where people support each other and stand by each other, where they know how to forgive the mistakes and misconceptions their teammates will inevitably have. It’s about keeping it fun. Celebrating the wins. Defining the wins and making them happen consistently by keeping scoreboards and attaboys happening to make sure people always know they’re winning at the things they’re winning at and adding more things to that list.
And where should the Chief Culture Officer sit in the org chart? At the right hand of the CEO, of course. What position could possibly matter more?
So, if you’re serious about adding more “wow” to your workplace and removing the “unwows,” then consider putting someone in charge of exactly that. And make sure this person is blessed with enough emotional intelligence to let go and let others take charge as needed to make the magic happen.
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