Finding, hiring, and retaining the employees that will drive your business forward is always a challenge, but these days, the job market seems to be more competitive than ever. Sure, there are always workers available, but it takes a special effort to attract and hold on to the truly great people.
Recently, the ADP Research Institute interviewed 19,000 respondents from 19 countries about their jobs, and only 15.8% felt that they were fully engaged in their daily work. So what can you do to make sure that your employees are happy and productive?One proven way: better I.T. Workers want access to better tools and environments that will allow them to flourish and truly be the best version of themselves .
Let’s take a look at what the ideal work environment looks like for the perfect hire.
Let’s call her “Barbara.” Barbara is your HR department’s dream hire. She is one of the lucky few who is fully engaged and enthusiastic about her job. The key is discovering why and then replicating those conditions throughout your business.
The good news is that a Barbara could already be on your payroll. The bad news is you both don’t know it. That’s because you haven’t managed to create the right environment for her true super-power (motivation overdrive) to emerge. We will go through the type of work environment that highly-engaged employees like Barbara enjoy and what you can do to make that happen.
They Work as Part of a Team, Probably as a Team Leader
Think back to your first job. Do you have fond memories of team spirit and belonging? If so, I’m going to ask you to ignore that memory and use your imagination. For most of us, our first job was motivated solely by the almighty dollar. The only thing we wanted to be part of was the loyalty program at our favorite outlets. With time and self-development, we moved from thinking about a job to imagining the job. We wanted to feel that we were part of something great.
This is what working in great teams brings out in people. If your employees understand the team’s contribution to the overall company goal, they are more invested in the success of the team.
How Can You Use Technology to Foster Teams?
Such as Microsoft Teams. Communication is essential for any team to succeed. As your business grows, you need the different factions of your company to work together. What usually happens is that one department feels that it’s working despite the hurdles created by another. That’s unfortunate because the reality is always that both teams need each other to achieve the bank’s annual target.
What if Steve from credit services and Maggie, the relationship manager, could be in constant communication with each other? What if Maggie could instantly tell how far her client’s facility request has gone with respect to approvals? What if she didn’t have to wait for an updated offer letter to be uploaded on the system? What if that document was ready as soon as the newly negotiated rate was approved?
That’s the beauty of applications such as Microsoft Teams. All the documents are cloud-based, meaning once the document is amended, it is available. No lag, no unnecessary delays. You’ve probably already assigned specific people in departments such as treasury and credit to assist specific branches or relationship managers. That doesn’t make them a team, though. By making it easier for them to get information from each other, you create a synergistic spirit. That’s a win-win scenario for all involved.
They Are Married, Have a Side Hustle, and a Pet
Gone are the days when eating, breathing, and dreaming work was the exception to the rule. Companies expect more from their employees than ever before.
But the truth is, being married to the job does not work for professional service providers—or anyone for that matter. There are people experiencing burn-out in their twenties and thirties. Cases of clinical depression are on the rise. It’s up to you, the employer to create an environment that allows for a work-life balance without compromising on productivity.
What Technology Can You Employ That Will Save You Time?
Banking has really come a long way. Once upon a time, tellers had to rely on their ten digits to count and check the authenticity of currency. Now we have machines that not only do that, but they have eliminated the element of error when it comes to withdrawals and deposits. At the end of the day, no time is wasted trying to balance cash in the box with cash in the system because it’s automatic.
So, what other activities do your employees spend time on every day that can be automated? Is your email and web system efficient? Is Irene spending precious minutes retrieving emails regarding new compliance procedures instead of focusing on helping the client structure their financial needs with you as a vital partner?If you invest in solutions that assist your staff in reporting and communicating, that results in time savings for both you and your employees.
Barbara, being very motivated, will be able to do so much more during office hours, yet still have the energy when she gets home to take her vlog audience through another fantastic two-minute tutorial.
Lots of inquiries made by potential customers are about information. Yes, we the public are aware that the information is probably on your website, but why go through all the tabs when your customer service rep can do that for us? So, we call.
When we are put on hold, we complain. When we get through to a rep, we spend the first three minutes complaining then finally we ask whether you have an ATM at the nearest mall. By the time your customer rep is done with that call, it’s been almost 10 minutes. Meanwhile, Amanda is calling in because stuck at the register with a cart full of shopping. She’s hoping to get through to find out why her debit card isn’t working.
Investing in chatbots that pop up the minute someone clicks on your website helps to weed out some of these inquiries, allowing for more productive problem solving by your human representatives. At the end of the day, Barbara knows that she contributed to solving an actual problem, rather than being the verbal punching bag for “What time does the bank open?” type of callers.
They Work from Home 80% of the Time
This one seems surprising at first glance. How can one claim to feel part of something when you spend so much time away? Answer: technology. Loving what you do doesn’t equate to loving the office. I understand that there are people out there who enjoy the tapestry of personalities they encounter on their daily commute. Those people are the minority. Barbara definitely isn’t one of those people.
Even though some jobs cannot be done from home, ensuring that vital documents are accessible remotely allows for greater flexibility and time management by employees. They shouldn’t have to come to the office to pick up documents on their way to a client meeting. They shouldn’t risk breaking confidentiality by taking those documents home with them the night before.
Here are some of the technologies that make remote working possible.
By now you’ve already heard about the cloud and some of the benefits it has to offer. Cloud computing allows for instant access to updated information. It reduces dependence on an individual’s response.
For example, once the offer letter for a facility is approved, a cloud-based system will allow the relationship manager to download and print it, without waiting for someone in the credit department to clear their queue for two hours and finally get to the client. That makes your employee look good, feel good, and keeps them motivated to create more business for your company.
Your clients are busy. Your employees are even busier trying to lock down the clients for a meeting. Your people have been calling their people for so long that both camps built a relationship and now they carpool to work. Unfortunately, this has done nothing for the relationship between your client and you because you rely on face-to-face meetings to settle terms.
I know what you’re thinking. “Can you hear me now?” is not a winning catchphrase that seals deals. That’s why you have people camping at the client’s office: because you can’t risk another telephonic disaster. It is time for you to upgrade your telecoms package. With a proper service provider, your calls will be clearer, cheaper, and decidedly more effective. That way, Barbara doesn’t have to go through four hours of traffic and risk being late for her niece’s dance recital. Especially when having that kind of flexibility to live her life outside of work is what makes her so loyal in the first place.
Link Customer Relationship Management (CRM) Solutions to the Employee’s Mobile Device
Client information is very sensitive. That’s why there are so many regulations limiting access to private financial information. The good news is, with the right kind of mobile device management, access to sensitive information can be secured by authorized personnel even when they are remotely located.
That means that when you’re pitching a new product to an existing customer, and they ask a question pertaining to their history, you can have the answer they need with a few strokes of the keyboard. Meanwhile, your competitors go with the “Let me get back to you on that” line.
They Have Worked for the Company for Five Years
Barbara is not the boss’s daughter or niece. She’s hasn’t just survived the appraisal process, she’s thrived. She’s a team leader with success in her wake. Without the team’s success, she wouldn’t have been able to meet her targets, so she must have a cohesive team. Being engaged means that there’s more than monetary motivation at play. She enjoys her job, she has some level of affection for her employer, and she’s basically content with her compensation package.
What technology can you employ that builds your employees confidence and contributes to their success?
Data Analysis for Target Marketing
The blind cold call days are over. Now, through filtered data derived from platforms such as social media, we now design products and reach out to potential customers on a personal level. Brand new moms have pop-up ads about diapers, multi-vitamins for post-natal care, and baby-and-me yoga coupons. Banking products such as savings accounts and mutual funds would be interesting to new parents. Parents know it’s never too early to start that college fund.
Target marketing increases the rate of sales conversions. Mass media ads still count for something, but reaching out to people in need of your services make so much easier for your teams to reel them in. That sense of achievement and the validation thereafter go a long way to keeping your employees invested in your business.
Online Framework for Appraisals
Appraisals: our favorite time of the year, said no one ever. If you didn’t manage to snag a billionaire client, it’s a long, laborious affair that we would rather do without altogether. Part of it is because it seems like an exam that you haven’t quite studied for. Wouldn’t it be great if there was an easy way to record your progress as you go along?
With an online system, managers can easily track progress, celebrating the wins and providing additional support when it is needed. Most of the time appraisals just feel like you’re on trial and you’re convincing the company not to fire you. An online system simplifies the process and convinces employees that you want them to succeed.
Plan for Tech Evolution
Your employees have friends, and after work, they get together and chat about their employers. They compare notes. If they love you, they brag about you. The more likely scenario is they compare war stories and show off their battle scars.
Being on the front lines when the bank is changing systems can be brutal. As soon as you log into the system in the morning, there’s that terrible error message.
Of course, there’s an email explaining why the system is down and that the I.T department is doing everything to work out the kinks in the new system. But that message means nothing to the customer glaring murderously at you when you tell them that they can’t withdraw anything until the cogs start turning again.
Having a plan for updates allows you to pilot new systems without crippling the whole bank. Pilots allow the bank to test the system and work out any bugs before you roll it out to the whole bank. That will score you points because your employees won’t have as many scars to show off as their companions.
ConclusionThe most engaged employee could already be seated in your office, wishing that the workplace was just a little more accommodating. Invest in transforming your office into a productivity hub. Employee turnover can be expensive, so lock down your talent.
Not sure how to go about it? Let JMARK walk you through your options and help you plan out what works best for you and your people.