We all know millennials get a bad reputation for spending too much on avocado toast. The truth is, millennials are not only spending beyond their means, but also not saving for their futures. recent study from the National Institute for Retirement Security states that about two-thirds of millennials have nothing saved for retirement
What factors increase the odds of success in organizational leadership development initiatives? These 7 things can make or break your investment’s impact.
In the world of leadership development, if you can demonstrate an impact, you can influence the organization in very important ways. Begin with the end in mind and be clear about what it is that you’re trying to accomplish with your leadership development efforts.
Top Workplaces 2018: Panda Restaurant Group’s ‘whole person’ approach helps employees move up — Orange County Register
“At Panda Express, we seek candidates who are values-driven, team-oriented and hungry to learn,” she said. “We offer internal programs such as one-on-one coaching, mentorship programs and leadership courses through the University of Panda to help our associates develop both personally and professionally.”
The company touts its “whole person” approach to employee health, which entails physical, mental and emotional well-being. #culture #leadership #wholeperson
Panda Restaurant Group, parent company of the fast-casual Panda Express restaurant chain, has forged a culture based on respect and the opportunity to move up in the organization.
Treating employees with dignity and respect – fundamental performance and engagement drivers. Check out the attached Harvard Business Review article:
“When you ask workers what matters most to them, feeling respected by superiors often tops the list.” That’s Kristie Rogers’ opening statement in her latest article on Harvard Business Review. Though hardly shocking for any contemporary leader or executive, it seems the business world hasn’t yet fully grasped the impact of it. As Kristie goes […]
Recently, a study on standard high school curriculum was conducted. Students interviewed were asked to share what they felt was necessary for productive living, but currently missing from available classes. Courses centered around financial education and the effective use of traditional banking products and services topped the list.
Insufficient savings and bad financial decision-making present a major challenge for people as the financial world becomes more complex and financial responsibility for old age provision shifts towards the individual.
Kondo has a fairly rigid process for tidying up a home. It starts with clients making a pile of every single article of clothing they own. The piles are usually massive. Then she asks clients to attack that pile, chucking out every item that fails to spark joy
Today’s post is by Steve Grooms The title of this article is a joke. Marie Kondo is tiny, actually. Her height, according to the national press, is five inches short of five feet. And yet she is unquestionably a big deal in the culture. Kondo has become famous and influential by teaching folks how to […]
By: Dean Nicolls
January 16th, 2019
Customer acquisition is top of mind for most banks and their boards.
This usually translates into new, slick marketing campaigns. These campaigns mean enlisting your advertising agency to cut through the clutter, which is increasingly difficult to do. Or you could look to mine more near-term customers right from your own website and the online account opening process.
More and more banks are onboarding new customers by enrolling them through their website. This process is rife with opportunity. According to The Financial Brand, 40 percent of online bank account applications were abandoned due to a long or complicated enrollment process.
Think about that. Only six out of 10 prospects who arrive at your site—with the intention of creating a bank account—complete the journey. That’s tragic. It makes more sense to fix that leaky funnel than to spend big on another advertising campaign in the hopes of driving significantly more website or branch traffic.
We know that there are a few places in the online account creation process where banks fall down. Let’s dissect some of these pitfalls.
Identity verification. Thanks to Know Your Customer and anti-money-laundering regulations, banks and credit unions need to impose more rigor to ensure the person creating the account is genuinely that person. Thanks to a steady barrage of data breaches and advanced malware, traditional methods of authentication, such as knowledge-based authentication and two-factor authentication, are no longer in vogue. Increasingly, banks are turning to online identity-verification solutions that require a government-issued ID and a selfie to more reliably verify digital prospects. These solutions can be pretty fast and are capable of completing the online verification process within a minute.
Simple messaging. Banks that provide simple, clear instructions, written in plain English, experience much higher conversion rates. This includes providing a clear rationale for why you’re asking online customers for their ID documents and selfie, and what you intend to do with that information.
Fewer screens. Obviously, the more hurdles you put in front of your customers, the less likely they will make it all the way through the account-opening process. So, if you can reduce the number of screens to identify a new customer from seven to four, that will have a material impact on conversion rates.
Go omnichannel. When it comes to establishing identity online, you want to open up the experience to as many channels as possible. Many identity verification solutions only offer a mobile experience, not allowing potential customers to use their webcams on their laptops or desktop computers. By disabling this channel, you’re eliminating a large swath of potential customers who either don’t have a smartphone or would prefer to complete the process from their laptop.
Being omnichannel also means supporting API-based mobile web and native mobile implementations. For companies looking to cast the widest possible customer acquisition net, including some older generations who may not be comfortable with newer technology, it just makes sense for your identity-verification solution to offer the broadest number of channels to your prospective customers.
No more maybes. Another cause of online abandonment are the longer wait caused by manual reviews. Several online identity-verification solution providers return a “caution” decision when they can’t easily confirm that the customer is who they claim to be.
Every “caution” or “maybe” requires manual review by a team of analysts. There are real costs to manual review. Jumio offers an online calculator to illustrate these expenses. These are real costs to your business, and they create real frustration for your customers.
So, if customer acquisition is job No. 1 for 2019, maybe it’s time to fix your sales funnel and plug the leaks with an efficient onboarding experience—one that optimizes and simplifies the identity-verification experience.
You can do the math. Spend big on advertising with iffy results. Or, create a great online experience that is designed for conversion. You’ll end up with happier customers—and a lot more of them.
Tags: Onboarding, Customer Acquisition, Omnichannel, Identity Verification
By: Emily McCormick, vice president of research for Bank Director
December 3rd, 2018
Over the past year, Congress has passed both tax reform and regulatory relief—signed into law by President Donald Trump in December 2017 and May 2018, respectively. And the Trump administration has appointed regulators who appear to be more favorable to the industry, including former bankers Joseph Otting, to the Office of the Comptroller of the Currency, and Jelena McWilliams, to the Federal Deposit Insurance Corp.
The survey examines industry attitudes about issues impacting M&A and growth, along with expected acquisition plans and expectations for the U.S. economy through 2019. It was conducted in September and October 2018.
Helping your team feel good each day is a role every leader should play. It doesn’t have to be a big thing or complicated. Sometimes the easiest actions can be the most important in helping to create engagement and make each day a little better for everyone. Here are some simple ideas for you to try.
10 Simple Things You Can Do For Your Team Today to Make Their Day Better
The job of a manager must be permanently recast from an employer to an entrepreneur. Being entrepreneurial is a mode of thinking, one that can help us see things we normally overlook and do things we normally avoid.
The Role of a Manager Has to Change in 5 Key Ways