by Colleen Cormier, Account Executive for On The Mark Strategies
“You’re only as strong as your weakest link.” I never understood this saying until recently. As far as I was concerned, the strong members of your group could compensate for the weaker ones, as long as the weak members were outnumbered. It doesn’t work that way.
My son’s soccer team recently merged with another team because neither had enough players to make a roster. The two halves of the teams live in different cities, hold separate practices and train with different coaches who have different coaching philosophies. Our half of the team took first place four consecutive seasons. The other team was always toward the bottom of the pack. Combined, we’re at the bottom of the pack.
Financial institutions most likely relate to this, because they usually have teams of employees at different branch locations with managers who manage differently. Do any of those managers exercise business practices that contradict your brand? Those are your weak links, or brand gaps. Even if it’s only one manager at one location, that branch weakens the overall strength of your brand.
Following are a few suggestions to strengthen or repair your weak links:
Staff buy-in is critical to your brand’s success. That starts with brand training. We conduct brand training for every branding client we work with, because it’s so important. Brand training explains what branding is, how it impacts your credit union and how employees must live the brand in their jobs daily. It gets everyone on the same page and excited about your brand promise to customers or members. Repeat it regularly and be sure every new employee experiences it. If you have to take the training to certain locations and deliver it multiple times, do it. Your brand depends on it.
Every executive at your financial institution must lead the brand. They must be living examples of the culture and values that define your brand. If your brand is friendly, say hi to employees on the elevator or in the hallway. Learn their names. Smile. Employees tend to imitate whatever behaviors your executives exhibit – positive or negative.
Your brand is not just your logo or your dress code or the framed values hanging on the wall. Those are all pieces of your brand, which encompasses everything about your financial institution. It is a way of life for your employees on the job, and it needs to be enforced. The marketing department often polices how your logo is used and what branches look like, but every manager is responsible for monitoring his or her employees. You want all employees to get on board with your brand, and hopefully with adequate training and leadership (and sometimes discipline) they will. Those who refuse are no longer a fit for your organization. They are your weak links and should seek employment elsewhere.
Banking is a competitive industry in which differentiation is already a challenge. You cannot afford weak links. That doesn’t mean every employee is perfect all the time. It means they embrace the brand, try every day to live the brand and help your customers or members grow to love your brand.