Does bank culture really matter?
Gallup tells us that if you have an average amount of disengagement, it will rob $3,400 from your bottom line for every $10,000 of payroll.
So YES, culture is a big deal.
And if your bank’s culture is broken, it can be fixed. In fact, that’s some of the easiest and fastest money to bring right to the bottom line—but only if you know what you’re doing.
That begs the question: What is culture, really? Is it a happy little feeling, deep inside? Unfortunately, if it is nothing but a “happy feeling,” it would be like eating Chinese food where you’re hungry an hour later.
It’s much more than that.
Culture is a series of systems that ties everyone to the values, behaviors, and outcomes of your organization, so everyone is aligned. In a nutshell, culture is best described as, “This is how we do things around here.”
Culture drives the performance, culture drives the behaviors, and culture drives the outcomes of the organization. And that’s the key.
I have a friend who says that no one has done more harm to the culture of businesses in America than Gallup. He said they ask survey questions like, “Do you have a best friend at work?” and “Do you have everything that you need to do your job?”
By their very questions, they’re building a culture of entitlement.
In a strong bank culture, when the impossible needs to happen, your people say, “Bring it on.” They feel that “everything is figureoutable.” Their motto is, “we can do hard things.”
Miracles are expected.
But for that to become a reality for you, you and your bank’s executive team have to understand what bank culture really is.
It is that fire in the belly to make great things happen—that purposeful drive to learn what you need to know so you can do the job that really matters.
Culture is important—but only if you want to grow faster or make more profit.
– Roxanne Emmerich
Please watch the video above and share it with your exec team and board.
I believe that most people working in banks perform at a fraction of their potential. In this session, I will show you how your people (like many bankers before them...
I believe in the unlimited upside potential in your team, and I believe that with the proper tools, they are capable of so much more. In this video, I’m going to...
What is your opportunity cost per inbound call? In other words, how much profit is lost per mishandled call that doesn’t turn into a lead, then a customer, then a full...
Does bank culture really matter? Gallup tells us that if you have an average amount of disengagement, it will rob $3,400 from your bottom line for every $10,000 of...
I've heard it a thousand times—a CEO will say to me, "I am so tired of lenders walking into my office and saying, 'Boss, I'm going to lose this deal unless we match the...
When everyone is competing for a scarce item, it becomes difficult unless you improve at it. This is exactly what we need to do with low-cost deposits. Let’s face it,...
I attended my first bank CEO conference several decades ago. You know what the theme was when people talked about cross-sales? They said, "My people are still order...
Sometimes, two different ideas seem to challenge each other. You've probably heard me say that everyone has a role in managing the culture of the organization. You've...
I don't care what your position is; you have a sales position. Why? Let's say you're out with other soccer moms, and somebody mentions they're planning on building a...
When I was working on my graduate studies in organizational development, I learned about the concept of learned helplessness. What I've discovered is that it’s a...