High Class Jobs, Low Class Thieves

Yesterday, I read an interesting yet troubling article on compensation that is given to retired CEO's from major financial institutions. Perks that are rewarded to these guys that no longer work for the company but make you think…. why? In many instances these retired CEO’s who are heavily compensated when leaving the company are given office space and a secretary or assistant and their former employers pay for all of it. Perks like a company car with a driver and use of the company jet, these perks are given as part of their contracts and usually for several years after they leave the actual job. The tens of millions of dollars that they make in a year are not enough for them to pay their own transportation and office space. These perks can cost the banks hundreds of thousands per year and yes in the grand scheme of things it’s a drop in the bucket. However, the institutions that are doing this are the ones crying for bailout funds! I don’t get it; can someone explain this to me?

There's no point in getting specific with names because they are not ones that you haven't heard before. It is just alarming how money is thrown to these fat cats that are not worthy. It's this same mentality that has brought this economy down. The feeling that they are untouchable and indestructible, so arrogant! The stories you hear in the news these days it just makes you wonder.........What happened to common sense?

It makes me sick to think about it and I’m sure that you are sick of hearing about it but we have a reason to voice our opinions because everyone has been affected by the greed that is displayed in Wall Street. Whether it’s losing a job, your business slowing down, your investments and 401k dwindling, increase in the cost of living, everyone has been affected.

My advice to you, find a bank that is sound, study your bank’s financial stability and its so-called leaders. Are they spending lavishly at your expense? Why should they deserve to have your business? Think about it.

Bankers, how much do you appreciate your customers?

Here is an old concept that may have been lost in this modern era of fast paced lifestyles and business relationships, the concept of thanking a customer. How often do we thank our clients for their business? How often do we call them as a courtesy to see how they are doing? I believe that now more than ever it is crucial that we practice such behaviors. The banking business is in deep trouble and we can't wait for the government to bail everyone out, we need to take self initiated steps to improve our banks. It all starts with you, the retail banker.

Obtaining new business is always in high demand, especially with so many banks competing for the same clients. There are so many ways to reach a prospective customer, however, maintaining those clients that you already have is just as important. Value your customers and let them know that their business is welcomed and that you are grateful for the opportunity to service them. The customers is what keeps us working and keeps banks in business. 

Customers should feel welcomed when they enter a place of business and should be acknowledged almost instantaneously, they should be addressed by their names, they should know your name, they should be thanked as they leave the branch. These are a few steps that will aide the retention of your clients. Try it and you will see the difference in your customers.