Co-Operative Bank Credits Its Sales Growth to Performance Management: The Financial Institution Is Improving Both Employee Productivity and Earnings with Its Monitoring and Training Initiatives

By Bailor, Coreen | CRM Magazine, February 2005 | Go to article overview

Co-Operative Bank Credits Its Sales Growth to Performance Management: The Financial Institution Is Improving Both Employee Productivity and Earnings with Its Monitoring and Training Initiatives


Bailor, Coreen, CRM Magazine


Most contact center managers would agree that providing CSRs with feedback is the Golden Rule for training and motivating agents. But using scores of reports from different systems to track down performance data can hinder that transfer of information. In the case of U.K.-based Co-operative Bank, this piecemeal approach to performance management left the financial institution searching for a more cohesive strategy to motivate and manage its staff.

"We had about ten to fifteen different reports that came out at different times within a month or in a week, so there was no linkage between the [management information]," says Rob Woolley, head of the Co-operative Insurance Services (CIS) customer contact center. Instead of coaching agents, managers would spend most of their time searching for data to get a sense of how reps were performing. The feedback cycle took so long that when information finally did get into the proper hands it was often useless. Simply put, Woolley says, "we had no consistency."

When the bank's call center operations began experiencing rapid growth, it reinforced the need for a solution capable of motivating its burgeoning staff. "In terms of the growth that we were seeing at that time, we were looking for strategies for getting more out of people so our front-line managers could have the ability, with timely information, to manage on a more effective basis," Woolley says.

After searching for about four months, Co-operative Bank selected Performix Technologies' Emvolve Performance Manager, a solution that constructs a matrix linking individual staff targets to key performance indicators (KPIs). Emvolve automates the performance management process and delivers an employee's assessment to his or her desktop on a daily basis. And for managers looking for collective insight, these individual views of performance can be aggregated to form a team picture. To keep employees aware of their progress Emvolve on a monthly basis identifies weak spots and presents the employees with training materials tailored to their trouble points. …

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