Kristin R. MoyerRick DeLotto here. David Furlonger has noted that bank runs can be started by the most trivial events, including a long bus-queue outside of your branch. Stessa Cohen has noted that banks are not addressing the financial meltdown that is in progress. They need to be answering questions such as: what should I be doing with my money now; can I protect my money during this financial crisis; I’m worried about losing my job and my house – what should I do?
- Banks need to staff up their touch-points. They need to be able to answer these questions and be supportive of panicking customers.
- Managers should join the line customer-contact staff as soon as possible, and engage in direct customer support. This shows solidarity and provides backfill.
- To the extent permitted by regulation, recruit all employees for the customer service mission. Sales, clerical, janitorial, and others can answer internal phones, update lists and databases, deliver food in the building. Reserve experienced, licensed touch-point people on the customer-contact front lines, and let the other folks take over necessary support.
- Assume that stress will be high and ongoing for personnel in these roles. Retain an employee assistance firm to assist with ongoing staff counseling. Stress will be high, and ongoing.
- Provide healthful meals for personnel who volunteer for extended duty. Obtain or subsidize dependant care for working staff as necessary.
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Category: Uncategorized Tags: banking and investment services, customer communication, financial crisis, financial meltdown, staff, staff stress
