jyske bank v1.3
TRANSCRIPT
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CASE STUDY
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TANGIBLES
One employee for a group of customers
Servicescape
Physical Evidence: Dull images for employees
A customer allotted to a group of bankers
Round tables, computer visible, no longer a dais, play place, café outlet, specially designed meeting rooms, change in interiors.
Friendly images of employees.
Mid 1990’s 2003
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INTANGIBLES
Training provided to employees
A long procedure before process could be com
Training provided to employees
The procedure is highly reduced for better services.
Mid 1990’s 2003
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SERVICES 7 PS
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EXPANDED MARKETING MIX FOR SERVICES
PRODUCT PLACE PROMOTION PRICE
Physical good features
No Difference
Word of Mouth
Premium target
Quality level Half of what others do
Not much Differentiation
Accessories
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Kaffe Bar At Bank
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EXPANDED MARKETING MIX FOR SERVICES
PEOPLE PHYSICAL EVIDENCE
PROCESS
Employees
Facility design Flow of activities
Customers Equipment – IT and coffee machines
Number of steps
Communicating culture and values
Level of customer involvement
Employee training Business Cards Surprise audits and checks
Other tangibles
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COMPETITIVE POSITIONING
OUT OF THE BOX SERVICE
Value Added
Service Culture that
differentiates
Cutting Edge
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OUT OF THE BOX SERVICE
Physical evidence: Developing a niche market and targeting the
right set of customers. A customer assigned to a group of bankers. Friendly pictures of employees.
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CUTTING EDGE
Technology – Similar
Delivery – Significant Differencea) Tools developed Customer Needs
Identifyb) Tools + People Cutting Edge
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VALUE ADDED
People: Being nice to customers Making time for customers Caring about customers. Focused at niche market Training in team building and customer
service. Empowerment to employees. Incentives
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SERVICE DIFFERENTIATES
Process: Traditional product selling to customer solution approach.
Delivery of financial products changed. Employee centric Empowering employee for decision making Training Commitment Incentives
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Interactive marketing“Delivering the promise” CustomersProviders
Internal marketing“Enabling the promise”
External marketing“Making the promise”
Company (Management)
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Service Quality
Product Quality
Price
Customer Satisfaction
Situational Factors
Personal Factors
Customer Loyalty
Reliability
Responsiveness
Assurance
Empathy
Tangibles
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SERVICE QUALITY
Responsiveness
According to the Companies core values published for the three major stake holders, Reliability comes under value (1) – Common Sense >> With both feet placed firmly on the ground, we think before we act<<• Consider common sense our best guide• Apply common sense when solving problems and meeting daily
challenges• Allow common sense to override awkward customs and routines• Take action whenever we encounter examples of bureaucratic and
routines• Observe existing rules and regulations• Accept that control measures are necessary to a certain degree• Generate satisfactory short and long term financial results by pursuing
sound business practices• Apply common sense whenever we incur group expenses
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SERVICE QUALITY
Assurance
According to the Companies core values published for the three major stake holders, Reliability comes under value (2) – Open and Honest>> We are open and honest in both word and action<<• Keep each other up-to-date on relevant matters, and do not misuse
information obtained in the course of our work• Restrict the degree of openness only by business considerations or by
considerations for other stakeholders• Respect agreements entered into and do not betray the bank’s confidence• Strive towards making important decisions concerning individual
employees on the basis of constructive dialogue• Communicate openly about the mistakes we make and the problems we
encounter• Accept that mistakes are made, that they are corrected, and that focus is
then on learning from the process• Listen openly to new ideas and constructive criticism
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SERVICE QUALITY
Empathy
According to the Companies core values published for the three major stake holders, Reliability comes under value (4) – Genuine Interest and Equal Respect>> We demonstrate insight and respect for other people<<• Recognize that no two people are alike• Seek lasting relations with shareholders, customers, and
employees• Offer qualified advice matching the financial needs and
requirements of each customer• Have job security based on mutual obligations and that we pay
attention to individual and personal needs• Allow the highest possible degree of personal influence on
assignments, working hours, and place of work
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SERVICE QUALITY
Reliability
According to the Companies core values published for the three major stake holders, Reliability comes under value (5) – Be efficient and persevering>> We work consistently and with determination to reach our goals<<• Use JB 2005 (the bank’s core values) as a guide in our daily work• Are not blown off course because of external circumstances - • Adopt an organization which promotes efficiency• Consider security important • Are convinced that efficiency increases with the level of personal
responsibility• Allow employees to assume personal responsibility for day-to-day decisions
– even when the basis for decision making may not be 100% perfect• Acquire the level of skills required through personal and professional
development• Act on the basis of competence rather than organizational charge• Support our decisions by well-founded arguments, working hours, and place
of work
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SERVICE QUALITY
Tangibles
• Accounts Teams• Branch Design• Details
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Service Quality
Product Quality
Price
Customer Satisfaction
Situational Factors
Personal Factors
Customer Loyalty
Reliability
Responsiveness
Assurance
Empathy
Tangibles
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Product Quality
• New IT systems helped employees take customers through processes to determine their needs and find appropriate solutions
E..g : Determining the style of investment products based on risk aversion, time frame and return goals customized for a particular client• 98% of the loans
processed at regional office itself
• Smaller loans provided almost instantly
• Larger loans approval time reduced from 3 weeks to 10 days
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Price
• As delivering this type of service was expensive, the bank charged a slight premium
• Targeted to customers who were less likely to represent a credit risk
• Expectations regarding price and terms were more often included in the application
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TANGIBLES
Account Teams1. Caring about customers as individuals Branch Design2. Customer interaction with bankers3. Café: Customer feels welcome4. Round tables: Equality5. Screen visible: Openness6. Home like meeting rooms7. Better photographs: Old family like
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FRAMEWORK FOR ENVIRONMENT- USER RELATIONSHIP
Source: Adapted from Mary Jo Bitner, “Servicescapes.”
PHYSICALENVIRONMENTAL
DIMENSIONS
HOLISTICENVIRONMENT
INTERNALRESPONSES
BEHAVIOR
Ambient Conditions
Space/Function
Signs, Symbols, and Artifacts
PerceivedServicescape
Cognitive
Emotional
Physiological
Cognitive
Emotional
Physiological
Employee Responses
Customer Responses
Individual Behaviors
Social Interactions
between and among
customer and employees
Individual Behaviors
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INTANGIBLES
Empowering the branches1. 3m to 15m to 30m2. Below 90m to Above 90m3. Improved customer experience4. Quality of information and hence quality of
loans improved5. Acceptable to customer as well as bank6. Improved branch credit skills, no incentive
to make poor loans and robust internal auditing function
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INTANGIBLES
Empowerment throughout the Bank1. When in doubt, ask2. Working hours and vacation3. Spend what you need to spend4. Telling what is expected and checking
behavior
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Customers
Frontline Employee
Frontline Employee
Frontline Employee
Supervisor
Supervisor
Frontline Employee
Frontline Employee
Frontline Employee
Frontline Employee
Frontline Employee
Manager
CUSTOMER-FOCUSED ORGANIZATIONAL CHART
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INTANGIBLES
Selection 1. Social Abilities2. Service Mindedness3. Compatibility with Jyske Values4. Openness5. Genuine interest in other people Incentives1. Stock Incentive2. One time incentive3. Raise incentive
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HUMAN RESOURCE STRATEGIES FOR CLOSING GAP 3
Customer-oriented Service Delivery
Hire theRight People
ProvideNeeded Support
Systems
Retain theBest
People
DevelopPeople to
DeliverServiceQuality
Compete
for
the B
est
People
Hire for Service
Competencies and Service Inclination
Provide Supportive Technology
and Equipment
Tre
at
Em
plo
ye
es
a
s
Cu
sto
me
rs
Em
po
we
r E
mp
loy
ee
s
Be the Preferred
Employer Train for
Technical and
Interactive
Skills
Prom
ote
Team
wor
k
Measure
Internal
Service
Quality
Develop Service-
oriented Internal
Processes
Mea
sure
and
R
ewar
d S
tron
g S
ervi
ce
Pro
vide
rs
Include
Em
ployees in
the
Com
pany’s
Vision
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INTANGIBLES
Support Systems1. RAROC2. Employee Satisfaction3. Customer SatisfactionCommunication4. Strategic Meetings: Communicating Change5. Video tape illustrating Jyske Differences
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THANK YOU