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.
When times get a little challenging, people can wig out and the team dynamics get a little interesting. But it doesn’t have to be that way.
Culture can be managed and culture can remain great, but you’re going to have to pay more attention to your culture than ever before during challenging times.
Video: How to Create a Rockin Culture During Difficult Times
World events are impacting the level of happiness of your team members. The world is impacting their self-esteem. The world is impacting them in ways that you’re going to need to compensate for, to make sure that your team has a spirit of “everything that we do, we can excel and innovate.”
“Hey, we’re winning.”
“Hey, we’re pulling ahead.”
“Hey, this is fun.”
“Hey, there’s visibility so we all know how we tie to profit and the strategic plan.”
“I can see how I’m doing on everything, and I see that I’m winning. This is a ball.”
The New Game of Banking is all about culture. When most banks talk about culture, they talk about sales culture, and that is all they’re thinking about.
They think about an officers’ call program and incentive pay.
Real culture shows that these ideas are far from the truth of what drives a great culture. Show me a bank that consistently hits a 2.0 ROA that defines culture in that way. That would be hard to do.
Culture is so much more than that.
It’s a state of being where everybody understands, “This is how we do things around here. And part of what we do around here is we tie everyone to profit on a daily, weekly, monthly, and quarterly basis. We don’t have any room for tourists on this bus. During difficult times, everybody’s got to pull their weight.”
And with the best of intentions, most people are trying to pull their weight, but they don’t know how they tie to profit on a daily, weekly, monthly, and quarterly basis.
That’s why you need to understand the Breakthrough Banking Blueprint™ approach—essentially a “franchise” system to make sure that everyone knows how to bring improvements in safety, revenue, profit, and customer experiences….instead of guessing.
To your success,
Roxanne Emmerich
Want to learn more about how to improve culture, retain your top talent, and start moving the needle within weeks? Watch the replay of our masterclass, A Culture That Rocks.
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