Higher Net Interest Margin With Less Risk – Fact or Fiction? [VIDEO]
Most banks chase NIM by matching rates. Top banks raise pricing by changing positioning. Here’s how they do it.
Your job descriptions could be killing your bank’s performance. We both know you have two types of employees: superstars — and the well-meaning, but average performing players.
The superstars are going to excel no matter what.
But your average players can do better. Too bad most are playing to the music you gave them…the job description.
For example: Most lenders think their job description is, “make loans.” That’s like a chef thinking her job description is “make food.” In reality, both need to resemble more of a job performance progress plan that outlines the real purpose of the job done well…and the impact it has on the business.
It also needs the key requirements of the job. For example, “enter all notes on the ‘aces’ (a clearly defined proof of completion of a sales stage) into the CRM daily, with next action and assigned date defined.”
That’s clear! But don’t stop there…you’ve got to have the right metrics.
Who cares how many prospect calls that they make?
Instead, you want metrics like, “number of aces on Top 1000 prospects” and “weighted sales funnel on Top 1000 prospects.” Those show that not only are they making the calls, they’re making them to the right people and doing the right activities that don’t get you into the “match that rate” bind later.
The job objective is tied to activities that you know will produce the real,
tangible results that drive the business.
Roxanne Emmerich
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