Manage Change
You need to implement change management, because we are talking about a long history and strong culture, it will be hard to change. In some markets, you cannot fire people. But you can incentivize the right behaviour, even if this is sometimes difficult in high tax markets. In emerging markets, it’s hard to hold onto your people, much less impose change. But this is changing….
Again, the branch manager’s role is all-important. She or he has to provide leadership and make the difference. His or her role has to be more business-focused. Coaching, incentivizing, pressuring people to change, focusing on customer, focusing on business model, profitability.
A lot of banks say they want change but don’t stick to really implementing change. While you are being slow and inept, one of your competitors may figure out how to jump ahead of you. Why not jump ahead of your competitor first?
- See more at: http://www.mce-ama.com/Making-Your-Bank-Branch-Network-Profitable/#sthash.kWm0yN6P.dpuf