Transforming commercial lending? Put people first.
May 13, 2019
May 13, 2019
Most commercial lenders are looking to make their first transformational investment in a decade or more, aimed at helping them better compete in the digital economy. The prospect of change, however—even positive change—can feel threatening to employees who see their hard-earned status being jeopardized, or who wonder if they will be left behind as the business moves forward. That’s why delivering transformation and innovation in a way that brings their employees on the journey with them will be critical to the success of any organization's change initiative.
Based on our experience, we find that investing in three people-centric elements can help commercial lenders create and sustain a true culture of change. Successful execution will rely on clear commitment, direction and accountability from leadership.
Be sure employees see and embrace the vision for the organization’s future, so they internalize the “why” of the change and buy into—and be a part of—the journey.
Know where the employee base is at all times throughout the journey and tailor solutions to bring them along.
Propel commercial lending transformation by creating an empowered workforce and making intentional investments in employee skill development.
Commercial banks are wise to invest in digital lending technology to keep pace with non-traditional competitors—but the key to bringing about the necessary transformational change is still people.