inform. educate. connect. Issue #9 - August 2010

Engage Your Employees and Take Back Your Customers

By Rebecca Doepke, NewGround

Many managers operate under the flawed logic that employees become more attentive to their work during a recession for fear of job loss. Although never intended to do so, organizations have made the situation worse through cost cutting measures they’ve had to implement.

All of this has an impact on employee engagement and overall morale. Despite the uncertainty surrounding the current market, we need to be prepared for the coming upturn. As the economy begins to recover, many financial institutions are trying to engage and reengage their customers. Retaining customers you have and trying to attract new ones means one thing – engage your employees and you will retain and take back your customers.

Most financial institutions define engaged employees as those who show commitment, intend on staying with the company long term, and go the extra mile. As team leaders, coaches, and managers, the question we need to ask ourselves is: “Is this the type of employee engagement our financial institution wants and needs?”  Of course we want committed employees to stay with us and go the extra mile, but what is the employee really engaged in?

Get the Word Out

Communicate the company’s vision and strategic direction. Your employees need to know who you are as a financial institution during this time of recovery. Make the following simple and clear for your employees to share with your customers:

• Who you are
• What you do best
• Where you are physically and virtually
• How you stand out
• What you offer
• Why your team is the best and what your culture stands for

Most importantly, remember that one size doesn’t fit all and you can’t be all things to all people.

Involve Your Greatest Asset

Involve your branch, operational and support teams in planning the strategy and execution. Halfway through the year, it’s ok to re-strategize and ownership will happen if your employees have a direct hand in the creation of the plan. Consider the following:

• Give your teams reasonable goals that they understand and can agree to.
• Empower your teams to make decisions.
• Build up communication between your teams. Everyone is working towards the same vision and direction – share frontline, support and operational progress and results with everyone.
• Recognize team members for the work they are doing and reward employees for behaviors and results that are aligned with your strategy.

Be an Engaging Leader

Your culture is defined by shared beliefs, practices and behaviors that are common within your organization. Having one or two superstars doesn’t engage the rest of the team. Creating an army of giants will engage your customers. The status quo can be changed through your leadership. As leaders, you must create a culture where employees feel they are part of something great and something important. Leaders must also expect all employees to give their best and hold them accountable for those behaviors. Leaders should foster a sense of human resources (not your HR department) that support and share responsibilities from co-worker to co-worker – one with mutual interest. Make sure your environment is supportive, where staff can offer suggestions, give feedback, take action and voice their concerns. See your employees as they can be, and expect great things from them. More often than not, they will deliver. 

Outside of the Workplace

The true test is having brand advocates beyond the workplace. Do your employees share your beliefs, practices, and behaviors outside of the organization? Are they contributing to the organization even when they are not at work by thinking about new ideas, strategy and innovation? Do your employees advocate not only for who you are and what you offer, but for the organization itself as an employer of choice?

Integration of employee and customer engagement fosters loyalty, deepens relationships and creates sales lift. Customer engagement is more strategic and isn’t just about selling.  You can’t tell your staff to cross-sell and become a super salesperson by a given date. Try a more strategic approach instead of a traditional sales approach. Find out what keeps your customers up at night. Ask what their financial concerns are. Ask customers how the economy, a job loss or a financial burden has affected them financially.

Engagement is a journey – it’s not a destination. It is every employee’s responsibility to connect your customers to your brand, engage them in your space, and connect with them in your culture. 

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