It is fairly common for a bank to want to be more innovative or take on a new strategic direction and the first thing they do is form a committee. They then decide who should be on that committee and in the desire to be all-inclusive, management invites each department head and maybe a board member or two. The thinking is that this structure will ensure the greatest number of ideas and that those ideas will be vetted. You know what happens? A great number of ideas, good vetting but very little innovation.
As we go down the path of trying to improve relationship banking delivery, we stumbled on the question - what does being a “relationship banker” mean? This seemingly simple question proved difficult to answer.
Earlier this week (HERE), we highlighted how an employee handbook can have a colossal impact on culture that can radically alter your bank’s trajectory. We talked about how culture alone allowed Zingerman’s, a little Michigan deli, to have a worldwide following. We showed employee handbook examples from Netflix, Zappos and Nordstrom to demonstrate how their cultural tone can be leveraged into a strategic difference.