Memorandum Regarding Personal Banking Officer Turnover

Memorandum Regarding Personal Banking Officer Turnover :

This Memorandum should be typed in the official letter-head of the company.

TO :



SUBJECT : Personal Banking Officer Turnover

You’ll recall that one of the topics discussed during the selling strategies session at our last conference was the ever-changing staffing of Personal Banking Officers at the Branch Banks. The consensus from the discussions was that everyone is experiencing the same problem, that the problem is growing, and that no one has any easy answers.

With this memo are two pieces of information on the subject. The first provides a good basic overview of the problem and illustrates several responses to customers objections. The second makes a strong point about the ever-changing nature of business. Each statement makes it increasingly clear that we cannot continue to be passive. That approach puts us in a death spiral situation.

As you make your plans for the coming year, I encourage you to develop a discipline for facing this problem. Doing so would mean that you:

Work to develop customer loyalty to Capital National Bank not to a particular officer.

Work to develop a smoother transition of Officer Trainees in order to appear more professional. We must avoid the impression that the tellers are more knowledgeable than the officers.

While the natural flow of thinking seems to promote this discipline for defensive reasons, I think the same can apply for offensive situations. If we do the extra analysis needed and formulate a plan that well serves our interests and those of our customers, we’ll likely win more than our share. Such a plan will probably summarize some specific terms of our plan and could include:

The benefits to our customers from the knowledge that they are a first priority of every officer at every location of Capital National Bank

The security our customers will have knowing they can obtain the necessary banking services quickly and efficiently from all our officers

The benefits to our customers and to Capital National from the teamwork process The terms are unquestionably tough but may be very reasonable with the alternatives our customers are facing.

Good luck!

Memorandum Regarding Personal Banking Officer Turnover