Financial Services

Amid Job Losses, All Isn't Lost

Thu, 10 Jul 2008 00:00:00 GMT

"The unemployment rate shot up by half a percentage point in May, the biggest single-month increase in over twenty years," notes Princeton economist Alan Krueger. The job cuts have hit the retail and financial services sectors particularly hard, and they illustrate problems in the economy in general. But they also point to opportunities for forward-thinking business leaders.

Does Your Technology Engage Your Customers?

Thu, 12 Jun 2008 00:00:00 GMT

Organizations continually feel pressure to improve efficiency and reduce costs while also meeting the demands of their increasingly time-starved customer base. Customers constantly seek speedier and more convenient access, wherever and whenever they might feel the need. Although technology should be able to directly address the demands of both company and customer, it isn't doing so effectively enough. Here's why.

What's Next for Banks?

Thu, 10 Apr 2008 00:00:00 GMT

Financial services expert Douglas Berlon is a 20-year veteran of the banking industry who was a top executive for a major financial institution. In this candid, gloves-off interview, he assesses the effect of the subprime meltdown on the industry and the impact it will have on consumers. He also questions the effectiveness of the federal stimulus package.

Is the U.S. in a Recession?

Thu, 14 Feb 2008 00:00:00 GMT

This question has been nagging at executives, investors, and the media. Here, Gallup's chief economist sheds some much-needed light on the subject. He also tells how companies can protect themselves if there's a serious downturn and what managers -- many of whom have never lived through a real economic slump -- should know.

Toyota Tackles an Audacious Goal

Thu, 14 Feb 2008 00:00:00 GMT

George Borst, president and CEO of Toyota Financial Services, had a daring plan for leading TFS through an expansion of its customer base and product line. But that required transformation in every aspect of his organization -- new people, infrastructure, knowledge, and skills. Some of the changes offered fresh opportunities, but others presented big problems. What's more, the expansion required Borst to discover new methods of leadership. Here's how he successfully transformed his organization -- and, in the process, himself.

Turning a Crisis Into an Opportunity

Thu, 13 Sep 2007 00:00:00 GMT

Like many Asian banks, Siam Commercial Bank suffered tremendously during the 1997-98 financial crisis. But it managed not only to pick up the pieces and regroup -- it moved to the front of the pack. Here's that company's success story, which offers a model for any business going through wrenching, and possibly fatal, change.

Investing in People

Thu, 09 Aug 2007 00:00:00 GMT

Keith Skeoch, CEO of Standard Life Investments, argues that a company's human resources function is a value driver and creator. In fact, this executive doesn't even see it as HR -- he prefers the term "talent management." Find out why, and learn about his approach, in this interview.

Successfully Forging a New Path

Thu, 12 Jul 2007 00:00:00 GMT

When its sponsor, United Airlines, was facing bankruptcy, Alliant Credit Union had to break out on its own -- there was no other option. Here's how the company learned to be successful on its own terms.

The Four Drivers of Innovation

Thu, 11 Jan 2007 00:00:00 GMT

Senior executives and management experts argue that innovation is today's most important driver of business success, not to mention global economics. That's why a group of company leaders gathered recently to discuss innovation, leadership, and the new economy of creativity, knowledge, and invention. They also explored how to translate these amorphous concepts into real business dollars. Their insights, distilled to the four drivers of innovation, are relevant to executives from businesses large and small, global and local.

What Makes Stock Investors Tick?

Thu, 13 Jul 2006 00:00:00 GMT

People who are otherwise thoughtful and reasonably intelligent can take appalling risks -- and make really bad decisions -- when it comes to the important task of managing their investments. A study of the Thai stock exchange explores why.

How to Ruin a Product Launch

Thu, 09 Feb 2006 00:00:00 GMT

Too often, new-product announcements from banks' corporate offices precede the training that the front-line staff needs to sell or service the new product. As a result, there's a gap between what a bank's staff should know and what they actually do know. This hardly inspires bankers' -- or customers' -- confidence in the product.

The Importance of That First Embrace

Thu, 10 Nov 2005 00:00:00 GMT

Too many banks squander the sense of anticipation customers have when they open a new bank account. This moment offers a small but significant window of opportunity for greater emotional and financial engagement -- not to mention for cross-selling.

Fixing a Major Banking Problem

Thu, 14 Jul 2005 00:00:00 GMT

Customer engagement variation in bank branches can drive profits down, customers away, and bank executives nuts. Here's how to eradicate it -- and it's the last thing managers would probably consider.

Marketing to Older Affluents

Thu, 09 Jun 2005 00:00:00 GMT

They control 67% of the wealth in the U.S. and have some surprising characteristics, according to Gallup Poll data. How can marketers appeal to this discriminating and diverse demographic?

Time for Banks to Prune Their Branches?

Thu, 12 May 2005 00:00:00 GMT

All too often, banks open sparkling new branches, flood the community with ads for them -- and then no one shows up. Why do otherwise savvy retail banks make this huge mistake, and what can they do to fix it?

ASB Bank: Good Isn't Good Enough

Thu, 12 Aug 2004 00:00:00 GMT

Three years ago, ASB Bank was an admirable financial institution. Twelve employee survey items (and a whole lot of work) later, it has increased its total assets by $7.5 billion and become truly world-class. Find out how.

Wachovia Takes Customer Engagement to the Bank

Thu, 08 Jul 2004 00:00:00 GMT

Wachovia is doing great things for customers and shareholders, but this wasn't always the case. Just a few years ago, service hit a low point, and the company struggled to keep its customers. A crucial factor in Wachovia's turnaround, says CFO Bob Kelly, is "the bank's tremendous success in increasing the quality of service we provide our customers."

Mutual of Omaha's Healthy Preoccupation With Talent

Thu, 13 May 2004 00:00:00 GMT

Insurance giant Mutual of Omaha could have coasted on its reputation for decades. Instead, the company that brought us Wild Kingdom is intensely focused on taming the most obstinate beast of them all: organizational and cultural change.

Beyond Complying With the Law

Thu, 09 Oct 2003 00:00:00 GMT

If financial services firms really want to win back the public's trust, they must go beyond simply following the rules. Anyone can comply with Sarbanes-Oxley, but only superior firms truly engage their customers.

Engagement Drives Results at New Century

Thu, 11 Sep 2003 00:00:00 GMT

It seems obvious that engaged employees would be more productive than their disengaged counterparts. But how much more productive? At New Century Financial Corporation, executives are homing in on the answer to that question. And the results are compelling for any manager who wants to boost employee productivity -- and the bottom line.

HumanSigma: Managing the Human Difference

Thu, 10 Jul 2003 00:00:00 GMT

For many businesses, Six Sigma programs have yielded big gains in productivity and quality. But once an organization has reaped the benefits of process improvement, what's next? Curt Coffman, co-author of Follow This Path, shares his thoughts on the next frontier for business: managing human performance and moving it toward excellence.

The Challenge of Managing Multiple Locations

Thu, 12 Jun 2003 00:00:00 GMT

Companies that rapidly open new locations may impress investors with their sales growth. But unless those locations deliver on the company's brand promise, they won't wow customers.

Why There's a Crisis of Confidence

Thu, 10 Oct 2002 00:00:00 GMT

Another day, another triple-digit loss for the stock market. Investors are sending a message, one companies and stock analysts had better not miss. Gallup's research into customer relationships shows that connections between a company and its customers are, at their core, emotional -- and repairing damaged relationships will make the difference between success or failure in the emotional economy.

Stress Resistant Customer Relationships

Mon, 22 Oct 2001 00:00:00 GMT

Even during good times, senior executives struggle with how best to manage assets -- including finding the right tools to gauge and grow a company's customer relationships. When the economy falters, managers urgently need tools that can help them anticipate future market conditions in time to take corrective action. Here's how a new Gallup customer engagement metric can help.

The Constant Customer

Sun, 17 Jun 2001 00:00:00 GMT

Holding onto a customer has never been harder -- or more important. Proprietary Gallup research shows that the key to wooing customers isn't price or even product. It's emotion. Here's how to win over fickle customers and make them love you for life.