Ever been asked by one of your commercial lenders to match rate to “win the business?”
Does the sun rise in the east?
When we see this happen we can predict, with clock-like precision exactly what’s causing the epidemic…
The lenders are measured on the wrong things. And when you measure the wrong things, you get wrong behaviors.
In today’s video I show you the “invisible link” between your lenders’ job descriptions, how you’re measuring their progress and how often you’re caving in to price pressure, instead of winning the PREMIUM YOU DESERVE…
Click here to download the Team Selling Checklist
Inside this 14 point checklist you’ll discover:
You create a strategic plan, promise the board that you will deliver, and then communicate it to your team. You think you’ve covered all of the bases, but the first month in, the sickening reality hits—you’re already off base.
Sure, the economy is tough. And yes, the competition is doing crazy things.
But your board does not want to hear it, and you know that your days of peaceful existence as an executive are coming to an end…unless you get your management team to perform to the expectations—and they get all of THEIR people to perform.
Studies show that 70% of your employees are checked out at work… and it’s costing you!
Have you seen the 2013 Gallup State of the American Workplace Report? It’s one of the clearest reports yet on the vital importance of having an engaged workplace culture. Among the findings were these shocking numbers:
- Employees who are disengaged: 70%
- Employees who are engaged: 30%
Of the 70 percent of American employees who are disengaged, 20 percent are described as “actively disengaged”—they essentially hate their jobs. This leaves fewer than one in three employees to push the rope uphill with very little help from the rest.
The coming bank consolidation isn’t a surprise. It’s been predicted for years. In fact, the next 18 months are destined to be a major “shake out” period when weak banks will be acquired or closed—and banks that are in a position to capture the best customers in town will become stronger and more profitable.
If an opportunity like this landed unexpectedly in your lap, would you be ready? Most banks wouldn’t be. Unfortunately, they’ll suffer years of pain, lost productivity, and even reputation damage from what was previously viewed as the opportunity of a lifetime.
Job descriptions by themselves never work. They’re vague and meaningless. And they really don’t directly correct behaviors. When Business Week asked employees whether they were in the top 10 percent of performers in their companies, between 84 and 97 percent, depending on position, said “Yes!”
Oh my…are that many people delusional? Not exactly. They just don’t know what “success” in their position would actually look like. They think the busywork in their job description is what matters because they haven’t discovered how to focus on the few things that REALLY matter. Banks are not exempt from this mindset.
Let’s face facts. You know it is true. Banks stink at sales culture.
Most say they’re working on it…but most have been “working on it” for three decades now, and they still stink at it. Why? Because you are repeating the mistakes of the past. Here are the 5 biggest mistakes that are common to every failed bank sales culture. (That would be around 99 percent of them.) (more…)