hey! whadda you lookin’ at? and why you lookin’ at it? · 2016-03-02 · • assign...
TRANSCRIPT
Hey! Whadda You Lookin’ At?
And Why You Lookin’ At It?
Effective Goal Setting and Accurate Performance Tracking for
Business Development
John GodwinHaynes Godwin Consulting
www.haynesgodwin.com
Whadda You Lookin’ At?
And Why You Lookin’ At It?
Agenda
• What? What you should be tracking – the statistics and goals that are critical to business development success. And those that are less important as well.
• Why? Understanding the reasons why you should establish certain goals and track certain statistics.
• Who? Who should be involved in developing the goals and tracking mechanisms and who should be looking at them.
• When? When, and how often, these goals and statistics should be reviewed.
• How? The most effective ways to establish goals and track performance to insure accountability and results!
So we start with…
What?• Intelligent• Agreed-Upon• Motivational• Specific• Measurable• Attainable• Relevant• Timely or Time-bound
Which products/services/things are most important?
• Savings• Loans• Direct Deposit• Checking account• PC Banking• Debit Cards• CDs
• Credit cards• ATM cards• Telephone Teller• Challenging SEGs• What else at YOUR credit
union?
What?(Relevance)
• Share accounts• Checking accounts• Direct Deposit• Overdraft• PC Banking/Telephone Teller• Plastics• Potential members?
• Some Personal Loans• CDs• Brokerage• Car loans• R.E. loans• Penetration
(accounts/employees)
More Control Less Control
What?(Measurable)
• What information CAN you get (easily)?• What information can be presented in an
easily recognizable and easily retrievable format?
• Accuracy? Watch for large changes and periodically check sources.
“Important” BD Numbers
• # of new SEGs….or…..• # of potential members or
BOTH?• # of offsites• # of accounts/offsite• Specific SEG penetration
• # of phone calls to prospects
• Overall SEG penetration• “Response Rate” of new
SEG letters.• # of “leads”
IMPORTANT EHHH..NOT SO MUCH
But……WHYYY?
Why you ask? I’ll tell you…
• Why aren’t checking accounts “that important?”
• Why shouldn’t SEG penetration be a high priority goal?
• Why not track # of phone calls to SEGs? (But there’s a caveat…)
Why?
• Questioning “why” you track each goal will provide a better understanding of what’s important.
• Make sure you are tracking the END RESULT that you want, NOT the action you take to get the end result.
• Be flexible! Discussion of goals and metrics will lead to better decisions!
Who?
Who? Why the Doctor!
• Anyone assigned a goal, or who plays a role in attaining the goal should have a voice in determining the goal.
• When creating goals, if you involve team members they’re “our” goals rather than “the boss’s” goals.
• Creates accountability.
When?
• As often as necessary to keep the goals fresh in everyone’s mind.
• Weekly team meetings are a valuable tool. • Printed copies of the goals should be in front
of everyone. • Don’t look to blame, look to understand if
goals aren’t being met.
How?
• Start tracking numbers now – better to track too much and scale back than not track enough and have to start from scratch.
• Use historical data whenever possible.• If you hear yourself say “that sounds
reasonable,” then STOP.
How?
• Accountability – weekly meetings – have progress reports to avoid last minute scrambles.
• Assign responsibility for 100% of a goal – it may lead to multiple goals for multiple individuals – i.e. branches and BD staff.
• Include the goals in the individual’s performance evaluation.
• Coach, coach, coach!
Summary
• Every credit union is different – what you track and what’s important to you may be different.
• Question why you are tracking all the time.• Don’t use “sounds reasonable” as a methodology.• Involve everyone who’s involved.• Build a system of accountability.• Be flexible!
The End - NOT
It’s my hope that this presentation does not end when you walk out the door…
– Talk to each other– Stay in touch – with me and each other (but especially
me)– Share ideas– If you’re a credit union, you cooperate. It’s what you
do!
