What are the cultural steps you need to take now to ensure that you have the glue to keep your best people?
Do you have a proven strategy to attract more profitable customers?
No, this strategy isn’t to hire more lenders.
No, this strategy isn’t about stealing the guy from next door.
No, this strategy isn’t about having your officers do more officer calls.
Those are all tactics. Those are not strategies.
Are One-Third of Your Employees About to Dump You? I hope not, but that’s what the research is showing will happen in the next six months.
In fact, according to research done by Bamboo HR, 79% said they felt “burnt out” in the last month, and 53% experienced “burnout” in the last week. This is a severe problem.
When I first left day-to-day banking to start this business, my first client was voted every year as the country’s top franchise.
Although I did their management development curriculum and educated their people about how to run that business, one of the things that I’m sure is true is that I learned more from them than they learned from me. I learned the concept of franchise thinking.
How do you do AB split testing to find out the best way to do things?
What’s the best way to hire a lender?
What is the best way to identify your next best customers?
A dear friend asked me a question one time, “oh really, can you afford not to?” and I thought that was one of the most brilliant questions I’ve ever heard.
Let me pose it to you this way.
Can you afford not to figure out how to increase your net interest margin by 100 basis points while bringing down your cost of funds and bringing up the quality of the loans you’re making?
I was speaking recently for a bank marketing association and what occurred to me was that I made a big discovery. I asked them how they move net interest margin. And I got that “huh?” look.
Then I dug a little bit deeper to ask them, “Well, tell me what net interest margin is, and how you as a marketing department tie into a net interest margin?” Blank stares. Nobody knew.
Not one person in an entire association knew probably the most important KPI for their department.
Now, if that’s happening in almost every bank within this country,
Everyone has patterns of disbelief.
Some people believe that in politics, there is one side or the other, and they’re unwilling to look at the alternative. Still others believe that the moon is made of cheese.
You may have a belief system that’s true. You may have a belief system that’s not true. And the question that we have to look at as executive is, “what has to be true for us to challenge what we believe to be true?”
You see, there are many beliefs within our industry right now,