universal associates - re-evaluating employee roles and the account holder experience
DESCRIPTION
The Universal Associate Branch Model Webinar will serve as a road-map to those institutions looking for guidance on implementing a universal associate model, including: Identifying which branches are a good fit for universal associates Determining the right day-to-day universal associate mix Improving the overall effectiveness of a universal associate approachTRANSCRIPT
• Welcome and Introductions
• Traditional Branch Staff Approach
• Universal Associate Model
• Designing Universal Branches
• A Closer Look – Sandy Dixon
• Finding and Training Universal Associates
• Technology to Optimize Universal Associates
• Management Tips
• Open Discussion Including Q&A Session
Submit a question or comment via chat
• Gordon A. Williams IV, FMSI EVP Business Development
• Sandy Dixon, Consultant
• Chad Davis, FMSI VP of Marketing
Your Traditional Branch Staff Approach May Be Hindering Your Sales Process • Staff quantity does not equate to quality • Highest trained staff interact the least • Which staff is more likely to upsell?
Low Product Penetration— • Below 20% for (6/10) • Improvement to upsell?
Disengaged Account Holders— • No cross-selling happening • Lost revenue potential • $400 per year for each
Advantages of Universal Associates— • Reduces branch labor cost • Improves sales and service
Individual Branch Evaluation— • One-size-fits-all approach is ineffective • Categorizing branches by size
Individual Branch Evaluation— • One-size-fits-all approach is ineffective • Categorizing branches by size
Low Volume Branches— • Less than 3,000 transactions per month • Adopting several roles • Exclusively staffed with universal associates
Mid-size Branches— • 5,000 to 10,000 transactions per month • Flexible team members • Adapting instantly to the current environment
High Volume Branches— • 10,000 plus transactions per month • Best suited for traditional banking models • Investments in branch technologies
Designing Universal Branches
Interacting in a new branch— • Maximization of space and efficiency • Purpose of branch is changing
Background • 38 year banking career – retired as EVP/Director of Operations
for Extraco Banks-central Texas • Areas of concentration: Retail, Operations, Accounting, Audit, HR • President & CEO of Sandy Dixon & Associates • Recognized industry expert: Branch transformation and
Multi/Omni channel banking
Sandy’s holistic approach enhances a multichannel strategy – transforming the branch to enrich the customer experience, reducing costs, and generating
capital to expand customer-driven multi/omni-channel demands.
Modernization – the key to staying competitive • Changing the Account Holder experience • Creating a sales/service oriented branch • Being customer centric
Measuring and Forecasting Universal Associate Activity— • Actual account holder traffic patterns • Core transactions • Platform system data
Tracking ongoing performance— • On-demand sales reporting technology • Cross-sell metrics • Comparing universal vs. traditional associates
Creating an environment for success • Branch design • Technology • Process Improvement
Wish someone had told me….. • Change management – making it easier. • Critical committees – getting the right people involved. • Team busters – recognizing them and knowing how to deal with
them. • Vendor selection – trusted advisor. Treat them that way. • Mistakes will happen. Learn and move on.
Finding the Right Employee - Internal vs. External Candidates
• Ideal scenario, but…
• Hiring outside the institution can be effective
• Hiring college students
Flying blind to sales opportunities and threats
• Extensive training is recommended
• Outsourcing the training effort
• Receiving accurate and timely insights
• Draw in account holders • More engagement in the branch • “Virtual Money Machine”
Incorporate games in your branch strategy
The Power of Community Involvement— • Open floor plans • Local retailers, win-win-situation • Attract more traffic
• Bank Satisfaction Barometer • Existing account holders concerns • What is most important?
Position your FI for 21st century challenges —
• Traditional branch approach may be costing you
• Identify which branches are a good fit for universal associates
• Leverage technology to get the most out of the universal associate model
FMSI provides performance management information and a branch staff scheduler to financial institutions of all sizes, including a workforce optimization comparative data report that allows clients to see where they rank amongst their industry peers.
– Learn more at www.fmsi.com, or call 770.619.3443 – Download all FMSI white papers and recorded webinars at
fmsi.com/resources