Banks and credit unions balance innovation and empathy to support better experiences for all
With the much-touted release of ICBA’s rankings for the best community banks to work for, community FIs are rightfully taking stock of their corporate culture and employee experience. Given the shift in operations because of COVID and the post-pandemic realities of the Great Resignation, bank and credit union leaders are meeting the moment with a distinctive blend of empathy and innovation. “It’s no secret that well-equipped, well-trained, and well-nurtured credit union employees provide their members with efficient and courteous service, “according to Raj Patel in CUNA News. “One of the best ways credit unions can uplift their employees is by offering them the right digital tools to help members succeed.”
On the more human side of employee experience (EX), HR experts recommend leaning further into empathy. “We need our employees to navigate through change, but they need support,” according to Forbes’ article on better EX in our new normal. “It’s critical for leaders to empathize with what their people are going through. There’s valuable how-to training focused on listening, understanding, acknowledging and assisting employees – resources that are especially relevant in these transformative times.” These approaches aren’t just nice to have, they’re fundamental to retention and engagement – with 93% of employees saying they’re more likely to stay with an empathetic employer.
For community banking’s part, Rebeca Romero Rainey, ICBA president and CEO, says this year’s honorees are being recognized for “creating a culture of success through employee empowerment and adherence to community banking principles rooted in service to employees, customers and the community.” Understanding how good customer experience (CX) flows from good employee experience (EX), institutions are smart to focus on better experience as a way to build bank and credit union loyalty. No matter the circumstances, investing in people is always a smart strategy.
For the latest data, news and trends in financial services, stay tuned to Believe in Banking. For insights on building diverse culture programs that empower and engage, contact Adrenaline’s banking and credit union experts at firstname.lastname@example.org.