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| FIngure1: SuperBetter – Increase Your Resilience (Source: Tubb, 2016) |
Let’s first look at today’s context in a banking environment
Employees in a banking environment has to go through various internal policy and procedural changes in today’s world, due to the drastic technological improvements and the industrial competition with other banks. Not only these internal policy changes, but also changes in government policies and regulations, such as travel restrictions imposed due to Covid19, restrictions on interactions with customers too have applied more pressure on employees in the banking sector.
This ultimately impacts on the employee experience, as it will impact
on the quality of the service the bank staff provides to the customers. The service
quality of a product always impacts on the customer experience; therefore, it
is important that the bank staff provide a good quality of service to the
customer. The internal staff will otherwise have to deal with various customer
complains as the existing customers are unhappy with the service quality they
receive.
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| Figure2: Resilience Bouncing Back (Source: Mallinder, 2019) |
Why being resilient is important?
“It’s not the strongest species that survive, nor the most intelligent, but the most responsive to change” (Charles Darwin, cited in Mallak, 1998, p.1).
“Resilient employees expend less effort in assimilating
organizational change and therefore have greater potential to improve
productivity and quality” (Mallak, 1998, p.1). Thus, when there is improved
productivity and quality the ultimate goal of enhancing the customer experience
of the bank is being met.
“A resilient organisation is one that not merely survives
over the long term, but flourishes-passing the test of time” (Kerr, 2016, p.3).
Kerr (2016) views organisational resilience as a strategic imperative for any business,
as it entails more than just the ability to survive; it also allows businesses
to capitalize on experience and seize opportunities in today's dynamic, linked
environment.
Figure3: Conceptual framework showing the effect of customer relationship management on organisational resilience.
(Source: Fukofuka et al., 2017 and Rahimi, 2017 cited in Edeh et al., 2019)
A study of Edeh et al. (2019) concludes that, in service-oriented organisations, customer relationship management is measured in terms of people, process, and technology that improves organisational resilience, which is measured on openness, proactiveness, and authenticity. He further states that banks must also be proactive, allow employees to share suggestions on how to address turbulences, and encourage employees to speak up without fear of change in order to preserve a resilient culture.
Conclusion
In-light of the information gathered above, it is suggested for
banks to train their employees on how to become resilient to change, which
ultimately helps not only to obtain organisational goals, but also to enhance
both the employee and customer experience. Therefore, developing a resilient
culture in a banking environment is important to enhance customer and employee
experience.
References
Fabulous, what a blog it is! This blog provides valuable information to us, keep it up.
ReplyDeleteResilient cultures understand the benefits of shared responsibility and empowered teams. This can prepare employees for crisis situations by establishing a clear understanding and a strong sense of accountability. To build a resilient culture takes time and it will help to enhance customer experience.
ReplyDeleteA major cultural shift is needed in the banking sector to help build better workforce resilience. This is in the form of using AI to boost productivity while combining it with the creativity, empathy, and innovation that only humans can bring to their role. Now is the time for banks to use AI in a more nuanced way, rather than just in automated isolation.
ReplyDeleteValuable discussion. In today’s organizations, resilience has become a key human trait required for peak performance. It's an increasingly important characteristic for organizations to cultivate in employees (Waters,2021.
ReplyDeleteHuman nature is to resist change, especially when it comes in the form of misfortune or difficulties. However, change is unavoidable, and cultivating the quality of resilience allows us to not only survive but also learn, grow, and thrive in the face of it. The ability to cope with hardship and adversity is known as resilience. People do not inherit resilience; it is a set of behaviours, attitudes, and actions that can be learned and developed by anyone. Thank you
ReplyDeleteThank you so much for your valuable comment.
DeleteYour article explain ,Resilience allows for a good attitude toward work and a positive outlook on life, which allows for better problem-solving and helps to sustain motivation. It is, however, more than just a reactive skill that activates when a person meets a difficulty. It also allows for a more proactive attitude to daily life.Thank you
ReplyDeleteAs Author stated, banking sector is influxed by many technologies, procedures and policies, this due to Prevailing utter competition among banks and development of information- Digital sector, Hence, it is vitally important to develop a resilient culture with in organisation, thank you
ReplyDeleteThank you so much for your valuable comment.
DeleteIs developing a resilient culture in a banking environment important to enhance customer and employee experience?....
ReplyDeletemy answer is yes. To a Bank, mostly the customer is the important person not always the employee. hence, there is a gap existing all the time which not a healthy one for Banks perspective since employee dissatisfaction could harm the reputation and the progress of Banks work