Description: This passage is mainly about umpqua bank login. In this passage, we can know that Davis leads the bank away from the traditional industry practices and redesigns their locations into stores with a clear focus on CX.
Where you made a decision in 1994, it changed the way that you did business, what has prompted that change? It is a basic decision, that’s the way I look at it and we have to make a decision how we are going to compete effectively against many competitors, the bigger banks cut out product, resource and computer, and products are a commodity in banking.
How do we compete effectively? For us it is a process of elimination that allows us to focus on one simple discovery, and that is the delivery of those products, therefore we start the store concept making, I don’t understand why it is going into a bank, it can’t be fun, it can’t be more interesting, you don’t have to feel intimidated, so that’s where have started.
It’s interesting, because how long people stay in stores now is as opposed to get in and get out, you’ve taken it past doing a task or running an errand, so I’ve said this for years, when you ask the most people what you do when you go to the bank branch, if you go to cash a check or make it a positive and you’re gone.
What we’re trying to do in our organization is to get people to say that I’m going to go to the bank store and browse shop, and while I’m there, I might cash a check or make a deposit and that’s a big difference, that’s a significant difference, but the stores are designed for any type of customer.
We have customers who would like to come in and spend hours reading the paper, watching the latest news, talking with the financial consultants or whatever they want to do, and then we have people that want to get in and get out, so we have to make it, we have added it.
It was very interesting in 1994 to 1995, we first started our first concept store, it was a lot about art and not so much about science, so when we migrated as the store, we added a little bit more science to it and that helped us, if you think about the traditional bank, when they advertised for hire people advertising the bank section.
So there are a few, if you have to have a banking background or some cashiers to qualify, in the most cases, that’s very limiting, the skill are different and incredible, so for us if you’re working in a store and we sit down to describe what type of person that you want there, we want a person who knows how to greet people as used to working on their feet and those are product line that can sell those products and services.
If you cut to the chase, you’re talking about the people that work in the retail establishments, when we start advertising for our people, we don’t advertise in the bank section, and we advertise in the retail section which means that we get hundreds of more applicants and people are very qualified, they want to work in a cool environment that they have a chance to make a difference.
I don’t think that it has a whole bunch to do with the design of the stores, I think anybody can do that design, you get a good architect, you can build and throw the money at it, you can build a fancy-looking store, what’s important to me and to our people is what goes on inside the store, and I can tell you that we started this back in 1994-95, over the years we have established or built and created a unique culture for our industry.
It’s that culture which I always say is the greatest asset that we own above everything else in the same breath and I’ve said this many times, it’s the greatest asset that we have, it is also the area where we have the greatest amount of risk, because companies get some successful ones.
Unfortunately, as they get big too many times, culture is lost along the way, bureaucracy takes over and you have nothing, you become another, it means that we will become a bank, I do not like bureaucracy, it’s the Big Bang concept that I’m always looking for.
If someone says that this is a great way of doing it because some bigger banks are in it, immediately I will suspect, the culture is about empowering people, it’s empowering people that they can make decisions whatever decision that they need to make, when it comes to a customer, in other words, they don’t pick up the phone and ask somebody to deal with it.
We give our people the authority to make those kinds of decisions, some people think that the culture is a contradiction, I think that it goes naturally such as a tough-love, we hold our people accountable, we give them goals, we incent them but we hold them accountable, and I can tell you stories, for some reasons, maybe I don’t follow up on something that I should have.
I get a call from this saying that you don’t come to check me out, that’s very good, there’s going to be rules and regulations that we have to deal with in dealing with customers or the way that we do our business which makes it difficult, but I think I’ll go back, I think that it centers around the empowerment issue.
Now if you work for a company and you’re only allowed to do two things over and over again, how motivated are you to come in? How motivated are you to deal with customers? I always feel that, I let them do, certainly there are foul lines but I let them do anything, they want to be within those foul lines to use their creativity for us.
I always tell people who working for this company about that, it is fun, it’s exciting, it’s changing every day, however you have to be good to work here, and I think that those are natural tensions, it’s not positive for the work environment but it’s very positive for our customers, because they’re talking with people who make decisions.
It’s interesting, over the years people will come in and they will have a problem, and someone says that I’ll take care of that for you now, and they say that you don’t have to call anybody, I can do it now, but that’s the biggest thing for customers, I’ve had so many of our customers walk into one of our stores, immediately they turn around and walk out to look up at the sign and make sure what it’s about, then they come back in.
You have to study other companies, I always tell you when I speak in our industry that I have talked to or mentioned to my audience that don’t look for ideas within the industry, they look for ideas outside of your industry, in other words, they find a company that’s beating their competition in a different industry and find out what strategies are and how you employ them and how you change it and repaint it.
But if you employ them in your industry, if you do that, your competition is not thinking about it, everything about what the person is doing is down the street, you can successfully differentiate yourself, you can organically grow this organization and I think that’s all about the clarity, I like that word.
When you talk to staff, if they’ll say the same thing, check it out because we’ve built successfully on building this culture and the culture comes a lot with discipline and tough love, there’s all the good stuff that comes with it, it makes it easier for me and other executives, to speak honestly, if there’s an issue of this company, I talk to them every thirty years.
I talk to everybody in the company, and when I tell them that if there’s something for you to worry about, I’ll be the first person to tell you and now there’s nothing to worry about, and at the same time, I married a year ago, because of the mess of what was going on with the economy, we were going to increase for six months.
I come out and tell everybody what we’re going to do, I expect you to get behind this and away we go, and it is amazing to me, I have received about 65 or 75 emails from people on our staff, we understand them, this is the right thing to do because of the clarity, because of the culture, people know what’s going on in this company.
We tell them and people can live in that, you give them an ability of what the end game is, what the Gold Line is and and what to achieve to raise fear, the fear is unknown, it’s the bump in the middle of the night, if you tell me what’s going on or what’s bad, you tell me how it impacts me, maybe it’s not good news but I can do with that.
The people are honest enough and able to take it, then it’s all self-fulfilling and that’s what creates us tonight, and our staff at this company never cease to amaze me, I never take them for granted, as I don’t think much for granted, I do not take the people for granted, but we’ll have difficult things that we’ve got to talk about and the responses that I get are amazing.
I recently have a conversation with the staff, all 2,000 of them say that I’m a little concerned about a culture, we’re good, it’s going well but I wonder if we’re losing our edge, I’d like for you to have your next motivational moment to kick it around television and think about it, and again the emails are still coming in where the commitment and the excellence and the edge are still there.
They’re not afraid to tell me that, it is array, you’re off base, we’re good, we’re doing great here, what you’ve said is very important because they own it, you begin it but they own it, it’s a legacy that they now own it, I start at Lands End and Gary comer front start it, it is our job to keep it going and one person can’t do it.
If you don’t have other people to pick with the banner wave, you’re wasting your time, we’ve been a growth company ever since I got here,it’s the attitude, my attitude is whether you build it or you kill it in business, those are your two strategies, you can’t say the same, I often write about that, the hardest thing in business is to stay same.
Change is going to happen whether you like it or not, so you’ve got to make a decision that if you swim to the pool and get out or you stop treading water and sink to the bottom, but you can’t stay same, it’s so much easier to get better, in fact you’re worse than stay the same.
So I think from our particular point of view from the financial side, since we’ve been growth oriented, we’ve been successful in creating this culture, and about the culture, I can tell you that we’ve also been very acquisitive over the last two years, but certainly five or six years before that, the reason why we’ve been successful with our acquisitions is because of the culture, it’s very interesting.
A lot of people will say that the culture is a problem, because it’s unique, it’s a little different from everybody else, and maybe it’s going to be a culture clash between the companies coming together, and I can tell you unequivocally, that’s not the case, our culture is not insular.
So in other words, you don’t have to grow up within it, to be successful you come from the outside, and it’s not threatening, the culture that you’ve created is empowering, I think that it’s similar to a warm hug, maybe it sounds silly but it’s a warm hug with an uncle or a grandfather who says do it now.