People Don’t Leave Organizations... They Leave People
I have always preached to Bankers and Bank Leaders that in order to be successful you need to be genuinely enthusiastic about making someone’s day (life) better.
That makes sense right?!?
We all want to treat others the way we like to be treated.
So why are so many employees leaving organizations and why are so many customers leaving their current bank?
Because even though it makes sense to treat our staff and customers well... our actions do not always match our intentions. We tend to be reactive rather than proactive.
And if you are always reactive then I am afraid you may just get outdone by others that are more proactive.
You see, staff and customers don’t leave “bad” organizations... they leave “bad” employers and service providers (ie. banks).
Of course nobody is intentionally “bad” (I hope not anyway)... but other potential employers and bankers are proving to be “better”... and by the time you react it may just be too late.
The solution is simple. Consistently show your staff and customers that you genuinely CARE. To avoid people (staff and customers) leaving YOU... it’s critical that you consistently and proactively show them you genuinely care about them.
Your staff and customers are not going to listen to your advice and buy your solutions until they know you are genuinely interested in helping them.
Stop driving YOUR own agenda. People can smell your inauthenticity and desperation (especially when they are walking out the door). Focus on helping them achieve THEIR agenda.
The terrible COVID 19 pandemic has magnified this issue, giving rise to two other troubling “pandemics” currently sweeping the globe:
- The Great Resignation – Employees are leaving employers that are unwilling to create more supportive work environments and conditions.
- The Mass Exodus – Customers are rethinking their financial goals / challenges and leaving financial institutions that are not proactively assisting them.
These two new “pandemics” are real. And the impact on your bank (your business) will be devastating.
The good thing about these two new “pandemics” is that we can prevent them from occurring. As highlighted earlier, the “vaccine” for this pandemic is simple – consistently show your customers and staff that you genuinely CARE.
Here are some definitions to help you better understand how to prevent the Great Resignation and Mass Exodus:
- Noun - The provision of what is necessary for the health, welfare, maintenance, and protection of someone or something.
- Verb - Feel concern or interest; attach importance to something. Look after and provide for the needs of.
For further assistance, let me share some simple ingredients for the C.A.R.E. “vaccine” …. or more specifically, some simple proactive measures to consistently show your customers and staff you genuinely C.A.R.E
C: Coach. Connect. Curious.
- Schedule time to meet with your customers and staff on a regular basis and COACH them on how to better achieve their goals and overcome their challenges. Develop your own coaching skills so you can make a greater impact.
- Seek ways to better CONNECT with your customers and staff. Communicate and correspond with them consistently to build greater rapport and demonstrate a genuine commitment to building a relationship.
- Be sincerely CURIOUS about what inspires, motivates and concerns your staff and customers. Regularly ask thoughtful questions that enhances your credibility and uncovers opportunities for you to assist.
A: Assist. Appreciate. Access.
- Proactively and consistently look for opportunities to ASSIST. Don’t wait for your staff and customers to ask you for assistance. Consider what they may need assistance and offer support. Become a reliable and credible resource for your people.
- Remembering that your staff and customers have choices, it’s important that you frequently thank them for choosing you. Sincerely APPRECIATE and never take for granted your relationship. Look for creative ways to show your appreciation.
- Can your staff and customers readily ACCESS you, or do they need to schedule an appointment? Better yet, have you scheduled regular meetings with them. Always be accessible and never cancel (or be late for) meetings.
R: Review. Respect. Reward.
- Schedule regular REVIEW meetings with your staff and customers. Never neglect your people again by regularly meeting to formally review their goals and activities so you can proactively offer support. Create a formal agenda and provide review notes.
- RESPECT your staff and customers at all times. No matter how frustrating some of their actions and requests may be, it is essential that you continue to show respect and make them feel important.
- Proactively look for ways to REWARD your staff and customers for their loyalty and performance. Be creative with your rewards. Not all rewards need to be monetary (eg. remuneration increases, better rates, etc). People simply want to feel valued by their employers and business partners. Remember it is too late to offer rewards when they are walking out the door.
E: Empathize. Enlighten. Encourage.
- It is critical today that bankers and bank leaders know how to EMPATHIZE with their customers and staff. People are feeling very anxious and are seeking a heightened level of understanding from their employers and bank. Proactively listen to your staff and customers. Seek to first understand before being understood.
- ENLIGHTEN your people with clever ideas and insights that will help them achieve their goals and overcome their anxieties. Broaden your advice beyond your immediate resources and solutions so that your customers and staff know you are making a thoughtful (and not selfish) effort to hep them.
- ENCOURAGE your customers and staff to take action. To take the steps necessary to achieve a better quality of life. Inspire and motivate them. Build their confidence. Once again this encouragement should extend beyond their employment with you or engagement with your bank.
People who genuinely care always want what is best for others. At the end of the day, that genuine care is far more valuable to people than a few more dollars in their pay packet or a few less basis points on their loan interest rate.
So do you genuinely care about your customers and staff?
If you lose a team member or a customer, I suggest you look in the mirror first and reflect upon what you may have done (or not done) to cause them to leave.
Review this C.A.R.E. checklist and consider what you could have done better.
Better yet, make this checklist part of your regular caring routine and you may find you will never have to worry about people leaving again.
Article written by Joe Micallef, BankTalentHQ Coach