Retail Banking Customer Satisfaction
A top 10 commercial bank had accumulated an enormous amount of data about employee and customer satisfaction but was not satisfied that it was deriving enough insight from the data. At issue: How to manage for improved customer and employee satisfaction? And, most important, how do customer and employee satisfaction affect the bank's bottom line?
Analysis Group analyzed the many forms of employee satisfaction data and suggested which issues were most important. Next, we determined the customer satisfaction and sales impact of the level of employee satisfaction. We then calculated the economic costs and opportunities associated with employee satisfaction. Our final step was recommending management approaches to best realize these opportunities.
In the course of this assignment, we identified significant performance improvement opportunities. We estimated approximately $10 million in annual value increases from increasing employee satisfaction. And we helped the bank establish a management process by which bank employees and managers developed recommendations for improving employee satisfaction -- which relates to bottom-line results and shareholder value.