Project Experience

Operations and Processes - Financial services…attempts to transform transaction-based employees into salespeople can encounter significant hurdles.

Client Situation
A key challenge facing banks today is the difficulty of converting transaction-based employees into salespeople. One leading retail banking power had embarked on a program aimed at encouraging branch and call center staff to participate in sales efforts, only to find that the task of motivating tellers and call center operators was more far more formidable than anticipated. This client then turned to us for our expertise in benchmarking.

Fuld Approach
We began by identifying ten banks known for their innovative approaches to training and motivating branch or call center staff to be more proactive in the sales process. We then evaluated each bank's program based on a wide variety of factors including employee selection and performance evaluation criteria; the design and extent of formal training programs as well as mentoring programs; the organizational structure of the branches and call centers; the role of technology in both supporting and monitoring employees; and numerous issues related to compensation.

Benefits and Implications
Our efforts yielded a wealth of information related to best practices that the client was able to evaluate and selectively adopt to improve the productivity of its own operations.
For more information on evaluating operations and processes in financial services, contactlscanlon@fuld.com.