Bank mergers are tough enough without putting brand implementation on employees’ to-do lists. The process of identifying and converting thousands of signs, ATMs, vehicles, and other branded assets takes years to master, and bank employees need to stay focused on keeping customers happy during times of change.
I was reminded just how many moving parts bank executives are responsible for when reading a recent article in American Banker entitled, “Having Right Culture Is Even More Critical in a Merger.” To quote the author, “During the merger process, I focused on aligning the effort to integrate the two cultures while overseeing a systems and brand conversion.” And it isn’t just executives who are stretched too thin during mergers.
We’ve worked as brand implementation project managers on quite a few bank mergers, so I’ve come up with a list of 6 reasons outsourcing makes sense:
- Smoother Transition: The first step is the internal rollout, so employees know what is going on. During mergers, there is an increased need to communicate effectively as employees jockey for position, which can lead to internal power plays, conflicts, and lower productivity. Because our team is a neutral third party with brand implementation expertise, we keep employees in different departments and branches informed while reducing the possibility of internal gamesmanship.
- Building Trust: One of the fastest ways to show employees that senior management is committed to success is by providing tangible proof. Give them a sign, literally. Quickly putting the new brand on exterior and interior signs, etc., shows employees that management follows through on commitments.
- Staff Bandwidth: Brand implementation is a complex process, especially for first-timers. Bank employees already have extra merger-related work that keeps them from assisting customers. When senior management proactively takes the burden of brand implementation off employees, it demonstrates a culture of strategic thinking.
- Customer Retention: Customers are being courted by other banks, and may switch during times of uncertainty. By outsourcing brand implementation, employees stay focused on customers and the brand conversion is completed quickly and precisely, sending a powerful message about the bank’s efficiency and attention to detail.
- Cost savings: Economies of scale are available to banks that outsource project management of brand implementation, because we are able to negotiate lower costs through bulk manufacturing and purchase of branded materials, along with lower installation charges. By streamlining the process, projects can be completed on time and on budget.
- Brand consistency: All branches need to have the same look and feel for brand consistency, which gives both employees and customers a sense of stability. Expecting managers at each branch to ensure brand consistency is unrealistic given their other responsibilities during the merger.
Outsourcing brand implementation to experts is an easy way to lower employee stress during a merger. You can bank on it.
