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.
What are the cultural steps you need to take now to ensure that you have the glue to keep your best people?
Culture is not just the happy bus. Anyone who has created a respectable bank culture understands that culture is a series of systems that align everyone to the values and behaviors of the organization in addition to profit drivers on a daily, weekly, monthly, and quarterly basis.
That is the game everyone needs to know how to play. Yet, in most banks, there’s well-meaning people who basically flit around with no fault of their own because they really don’t understand what needles to move.
But most importantly, they don’t know how to move them.
Sadly, they’re set up for failure. This just is not okay. At times like this, where there’s increased competition for your best employees, imagine the cost of losing employees by not giving them opportunities to grow or given them the tools to win.
The key is to have your entire team applying a proven “predictable success” process that systematically drives the predictability of winning. That is what’s important and that’s what drives a bank culture people would never leave.
Culture isn’t just the happy bus—it’s the happy bus going to the land of “We live our values. We live our behaviors. We hit our numbers and we effectively implement everything in our strategic plan.”
Now the real question is whether you’ve given your team the right systems to help them win big and often. The proof is in the puddin’.
The vast majority of banks in America do not have what they need in place to drive great performance, keep great people, and it’s going to start showing real soon.
– Roxanne Emmerich
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