How Top 5% Banks Drive NIM Through the Roof—Without Raising Rates [VIDEO]
Net interest margin is under pressure—and if your bank is still waiting on rate changes to save your profitability, you’re already behind. In this sharp, no-fluff...
I believe people are basically good. They want to do what they say they’re going to do, but sometimes they get distracted, or they’re unsure of what their optimal role is. And that can be dangerous when it comes to your bank’s strategic planning.
In this episode, I’m going to show you how to get your entire team aligned so that everyone knows what their responsibilities are EVERY week and how it ALL ties into the bank’s strategic plan. You’ll be able to breathe deeply, knowing you won’t be begging for forgiveness from regulators or your board.
If you’re the kind of leader:
EVERY bank seems to struggle with some version of these issues.
Most strategic plans are stale, boring, lack accountability, and often have a list of 18+ things to do—all of which will, no surprise to anyone, show up on the list the following year… undone.
Instead, you need an integrated sprint process where everyone in your organization knows what they must do that week and get the distinction that “they gave their word.” Their outcomes are their promises to the team.
Unlike so many strategic planning processes that have a visibility program that sounds like, “file the plan in the board room,” when you build a weekly visibility system where each person commits to their outcomes for each week, people get excited and engaged.
They have an important role in seeing the plan be fulfilled, and everybody is watching.
Unlike traditional “rah-rah” fake happiness, create an acknowledgment and celebration system where progress is recognized, and teams are excited to see that they have moved the ball down the court on the right kind of leading and lagging indicators.
Being tuned into and taking pride in their outcomes moves the needle so much faster.
Imagine the peace of mind and the ease of your job if your team followed an effective system for getting more and better new business in your bank. You come up with the strategies and can rest assured knowing your people will enjoy their work more because they are set up to win.
This concludes my 5-part series on strategic planning. If you missed an earlier episode, catch them all here:
Part 1: What really works in strategic planning
Part 2: Thousands of dollars in untapped profits found at your bank
Part 3: 4-step system to attract top-quality prospects who pay premium prices
Part 4: Is your strategic plan out of alignment?
Next week, I’ll kick off a 5-part series on cross-sales. Stay tuned!
To your continued success,
Roxanne Emmerich
P.S. We still have seats left for our upcoming Breakthrough Banking™ Blueprint Conference. Register your executive team today if you’re serious about getting even-better results in 2023 and beyond.
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