I believe almost every person can double their productivity at work. In this episode, I’m going to share with you a process I have used over and over again to not only double but often times quadruple the profit brought in by hundreds of employees within a few years!
In this video, I’m going to share with you how to get more accountability from your team members to the things that move the profit needle.
Accountability is a funny thing. Everybody wants it from their team, but accountability for what?
Accountability for attendance?
For work completed?
For “doing what you say you’ll do?”
Sure, but those aren’t game changers…
What you really want is accountability for RESULTS.
Without RESULTS, you have nothing more than a social club with the added benefit of a bi-weekly gift of money.
But how do you create accountability for results?
We’ve found that there are 5 steps…
In today’s video, you’ll discover all 5.
Culture is the leading predictor of future growth and profitability. Great news if you have a great culture—otherwise, not such good news.
After working with hundreds of banks over 24 years, I can say unequivocally that banks that turn around their cultures turn around their profits quickly. It is the leading indicator…and a beautiful and fast needle mover.
And with the abundant acquisition opportunities about to hit in 2013, you know the importance of getting your own house in order before you compound the situation.
So, what’s the problem?
According to Gallup organization research,
#1. Culture trumps strategy.
Hundreds of studies now show that culture is the leading predictor of future growth and profitability.
The Gallup Organization found the increase in earnings per share for companies in the top quartile that have high employee engagement (a measure of culture) to be 2.6 times. Amazing!
Unfortunately there is a false belief in banking that culture means sales training, goals and incentive pay. Dead wrong. Culture is the mood. Motivation is a racket because it depends on others catering to an employee’s every need. Inspiration is what you want—that’s intrinsic.
Most bankers think that internal culture means friendly tellers, free coffee in the lobby and someone to greet customers as they come in the door. No, no, no! Have you ever found one bank that was able to get 100 to 150 basis points more in net interest margin with that insipid belief system?
Of course not. Because that’s not what culture is.
Culture asks, “Will your people leap over tall buildings in a single bound to make sure your client is successful in their business or personal financial goals?”
Let’s face facts. You know it is true. Banks stink at sales culture.
Most say they’re working on it…but most have been “working on it” for three decades now and they still stink at it. Why? Because you are repeating the mistakes of the past. Here are 5 biggest mistakes that are common to every failed bank sales culture. (That would be around 99 percent of them.) (more…)
Try this as a 30-Day Turnaround:
Why is it that a $450 million bank with nine years of flat organic growth suddenly had an annualized growth rate of 35 percent within 30 days of one culture intervention?
Why is it that a $920 million bank consistently ranked in the fourth quartile—a fact which they blamed on their low-income, shrinking market—eventually moved into the first quartile after experiencing over 20 percent growth, seeing significant quality improvement, and tripling ROE… all within three years with no improvement to their market?
Previously, both of these banks had done sales training for years with virtually NO impact on growth or profits.