Building a Foundation for Success at U.S. Bank
BACKGROUND
U.S. Bank had a major reporting problem on its hands. Employees and managers across its 3,000+ branch network were not receiving timely updates on their performance. Bankers and tellers were frequently pulled away from their posts to tally up daily sales and service results for management, losing valuable time with customers. Additionally, everyone was too often left in the dark on how they were performing towards their incentive goals. To make matters worse, the reporting that was posted to a shared drive was difficult to navigate, riddled with errors and containing multiple versions of the truth. All of this resulted in a retail channel encumbered by low customer experience scores, outdated and inefficient management processes, and missed financial targets.
THE CHALLENGE
How can U.S. Bank more effectively manage employee performance in its retail banking channel?
WHAT WE DID
We led a cross-functional team overseeing every facet of design, development, UAT and implementation to launch and ultimately support a new performance management suite called Branch PM. The application was the first of its kind at U.S. Bank to seamlessly deliver key sales, service, pipeline and portfolio results to over 20,000 retail stakeholders across its 25-state footprint. It also introduced a robust stoplight methodology for managers and their teams to regularly track performance results versus incentive goals and against other branches within their organizational hierarchy.
WHAT WE ACHIEVED
Branch PM instantly unlocked tens of millions of dollars in efficiency-related cost savings through the elimination of manual and redundant processes at U.S. Bank branches alone. Importantly, the solution freed up frontline employees to focus on the things they do best: matching customers with the right products, delivering exceptional customer experiences, and efficiently managing branch operations. It also became a powerful all-in-one coaching tool for managers to enrich the dialogue with their teams and generate more actionable results. Today, Branch PM is one of the most highly trafficked internal applications at U.S. Bank, serving over 20,000 unique users and receiving millions of website hits every week.
For more information on Branch PM and how we are bringing this capability to community banks and credit unions, please visit our portfolio.