New Marketing Techniques In Banking
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EXECUTIVE SUMMARY
The emergence of banking services affects consistently the business development but the modern business services are focused on the customer satisfaction, although needs and wants of customers keep growing progressively. In this regard, many banks turn to the accelerated development of online banking services as the major way to improve their company-customer relationship and to increase customer satisfaction. At the same time, the development of banking services depends on the job satisfaction of employees, their professionalism and effectiveness of their performance. Therefore, many banks are concerned with the development of the professional level of their employees to introduce successfully online banking services. In terms of the current study, the results of the training and improvement of the qualification of employees proved to have a positive impact on their performance and effectiveness of their work.
INTRODUCTION
In the contemporary business environment, the implementation of online services is an effective way to improve the marketing position of companies. In this regard, many companies operating in the banking industry focus on the introduction of online banking services to get closer to their customers and offer their customers larger opportunities to use baking services. At the same time, the technical development of new, online banking services is not always effective because it needs the well-qualified employees, who can provide these services for customers. In such a context, training of employees and their job satisfaction become crucial factors that contribute to the effective implementation of online banking services and the high satisfaction rate among customers because it is employees, who define the company-customer relationship.
LITERATURE REVIEW
Today, many specialists (Hawkins & Smith, 2006) argue that the future of banking services is the online banking. What is meant here is the fact that the development of the modern banking industry relies heavily on the development of online banking because customers prefer to use online banking services instead conventional banking services, which are time consuming and less easy to use compared to online banking services. In such a situation, modern banks focus on the development of online banking services to increase the customer satisfaction. However, often banks ignore the fact that the customer satisfaction is closely intertwined with the high effectiveness of employees' performance and their job satisfaction (Wyatt, 2008). At this point, it is worth mentioning the fact that the development of online banking services cannot be effective and successful without the effective performance of employees providing these services. Specialists (Newell & Turner, 2008) argue that the effective online banking services begin with the training of the personnel and employees' job satisfaction.
METHODOLOGY
In terms of the current study managers and employees of banks were involved as subjects, who revealed the impact of the employees' performance and their job satisfaction on the overall success of introducing online banking services in regard to the improvement of the customer satisfaction. Two groups of managers and employees consisting of fifteen persons were involved in the study. The subjects of the study were involved in interviews and questionnaires (See App), which revealed the job satisfaction of employees, their performance and its impact on the online banking services and customer satisfaction. Interviews conducting in terms of the current study were as follows:
Interview questions to managers
What is your experience of coaching?
What are the main characteristics of a good coach?
What are the major problem coaches face in their work?
What is your favourite method or methods of coaching?
Do you feel the influence of the organization ordering coaching on your wok?
Do you consider your coaching is effective? Why?
Can coaching affect employees? performance?
How coaching can improve employees' performance?
Do you need training or expansion your professional knowledge to coach effectively?
Do you consider essential for modern organizations?
What are goals of your coaching?
Does your organization order coaching services for your employees and managers?
What are principles of selection of a coach for your organization?
How you define employees, who need coaching?
What are the major goals of coaching for your organization?
How frequently you order coaching services for your employees?
Do you practice coaching within your organization without outsourcing coaching services?
Do you consider the sharing knowledge management being effective in the contemporary business environment?
What do you expect from coaching of your employees?
Have you noticed any significant improvements in the performance of your employees after coaching?
Do you consider coaching essential for your organization?
Interview questions to employees:
Have you ever participated in coaching?
What is your impression of coaching?
Why do you participate in coaching? Or Why would you participate in coaching?
Do your managers push on you to participate in coaching?
How many of your colleagues have been involved in coaching?
Do you find any improvements in their performance?
Have you noticed any improvements in your performance after coaching?
Did you have any difficulties or challenges in the course of coaching?
Did coaching have any negative effects on your performance or on you in person?
Do you consider coaching being essential for you and your organization?
What is your experience of working in your organization?
How would you characterize relationships between employees?
What factors influence your mood and performance in your workplace?
Do you think your workplace needs any improvements?
What factors prevent you from your best performance?
Do you believe you can perform better in your workplace?
Are you satisfied with your salary?
Do you count for a long-lasting career in your organization?
Does your organization conducts socially responsible policies?
Why would you change the job?
In such interviews aimed at the revelation of workplace environment, company-customer policies and job satisfaction of employees. In this regard, the correlation between employees' job satisfaction and company-customer relationships was particularly important.
Questionnaire
For employees:
Q1. How long have you been working in your call centre
Less than a year
1-3 years
Over 3 years
Q2. Your relationships with your colleagues and managers are:
Good
Bad
Neutral
Q3. Is your salary:
Higher than average salary in India
Average
Lower than average salary in India
Q4. Are you content with your job:
Yes
No
Yes but need some improvements/changes
Q5.Do you need substantial improvements in your workplace environment:
Yes
No
Q6. Does your company conduct socially responsible policies:
My call centre has a good compensation plan
My call centre has a good compensation and retirement plan
My call centre has a good compensation and retirement plan and covers my health insurance
My call centre has a good compensation and retirement plan and covers my health insurance and my family's health insurance
My call centre fails to conduct socially responsible policies
Q7. Do you get enough training:
Yes
No
Q8. How long have you being trained in your call centre:
About a week
About a month
About half a year
Q9. Can you get promotion in your call centre:
Yes
No
Hardly
Q10. Would you change the job if you are not content with your job:
Yes
No
For managers:
Q1. How long have you been working in your call centre:
Less than a year
1-3 years
More than 3 years
Q2. Do you consider your performance:
Good
Bad
Mediocre
Q3. Do you consider your organisation's performance is:
Good
Poor
Average compared to other companies in the industry
Q4. How would you characterize your relationships with employees:
Good
Bad
Neutral
Q5. How would you characterize your relationships with your colleagues:
Good
Bad
Neutral
Q6. Dou your believe your employees are satisfied with their job:
Yes
No
Q7. Are you satisfied with your job:
Yes
No
Q8. Would you quit your job if you are not satisfied with it:
Yes
No
Q9. What is your personnel turnover:
Less than 5% per year
5-10% per year
Over 10% per year
Q10. Do you consider the poor job satisfaction is the reason for firing of an employee:
Yes
No
Questionnaire
Questionnaire for coaches:
How long have you been working as a coach:
Less than a year
From one to three years
Over three years
Do you consider your coaching being effective:
Yes
No
How would you define the effectiveness of your coaching:
Very effective
Effective
Barely effective
Ineffective
Do you consider discipline is important for positive effects of coaching:
Yes
No
Do you consider communication to be important for effective coaching:
Yes
No
Do you develop communication skills in your coaches:
Yes
No
Do your coachees need the development of organizational skills:
Yes
No
How often do you participate in coaching:
One a week
Once a month
Once a year
How would you define your qualification level:
Superior
High
Middle
Low
What motivators do you prefer to use in your work:
Material
Non-material
Questionnaires for managers:
How often do you organize coaching for your employees?
Once a quarter
Once a year
One time in three years
Is coaching essential for your employees?
Yes
No
What is the goal of coaching for your organization?
To improve performance of employees
To improve performance of the organization
To improve both performance of employees and organization
How would you assess the effectiveness of coaching?
highly effective
effective
poor
ineffective
What impact does coaching have on your employees' performance?
Positive
Negative
No effect
Are your employees motivated to participate in coaching?
Yes
No
What skills are primary to your coaches?
Leadership
Organizational
Communication
How much coaching do your competitors use?
More than our organization
As much as our organization
Less than our organization
Do you implement the knowledge sharing management in your organization?
Yes
No
Is coaching essential for your organization?
Yes
No
Questionnaire for coachees:
How often are you involved in coaching?
Once a quarter
Once a year
One time in three years
Do you enjoy coaching?
Yes
No
What skills of a coach you consider to be the most effective?
Leadership
Organizational
Communication
What are your goals in coaching?
Improvement of my professional skills and abilities
Career growth and promotion
I just have fun while coaching
Are you motivated by your coach?
Yes
No
What motivators are the most important for you?
Material
Non-material
Does your organization motivate you to participate in coaching?
Yes
No
Have you noticed any effects of coaching in regard to your performance in the workplace?
Positive effects
Negative effects
No effects
Are you eager to participate in coaching?
Yes
No
What qualities or skills do you suppose to develop with the help of coaching?
Communication
Organizational
Leadership
Is coaching useful for your career growth?
Yes
No
The questionnaires pursued the same goal as interviews but they had more specific questions and options to answer.
FINDINGS
The results of the study and interviews conducted in terms of the current research have revealed a number of noteworthy facts. First, often banks have a high rate of personnel turnover that provokes the uncertainty of employees in their future in their bank and they fail to perform successfully and effectively. At the same time, their job satisfaction drops along with the effectiveness of their performance. In such a situation customers feel being dissatisfied too because they do not receive online banking services of the high quality. Instead, they have many problems because of unwillingness or inability of employees to work well.
Furthermore, the research has revealed the fact that the lack of training of employees undermines their performance and leads to the consistent deterioration of the online banking services employees are supposed to provide for customers. In this regard, many banks are concerned with the training of their employees but they do not always find an effective approach that can maximize the effectiveness of training. Instead, well-trained and highly-qualified employees can provide customers with online banking services of the top quality.
In addition, many banks are suffering from information breaches but this problem can also be solved through the training of employees. On the other hand, managers insist that the development of the effective information system is essential to secure the private information of customers. At this point, it is important to remember that employees should be able to use the effective information system properly. Otherwise, the system becomes ineffective.
CONCLUSION AND RECOMMENDATIONS
Thus, taking into account all above mentioned, it is important to place emphasis on the fact that the development of the online banking services does lead to the high customer satisfaction. On the other hand, human resources still play the determinant part in the organizational performance and customer satisfaction. What is meant here is the fact that the effectiveness of online banking services depends on the performance of employees and their qualification level. The high effectiveness of online banking services leads to the high customer satisfaction but it is possible on the condition of the effective employees' performance, which depends on employees' job satisfaction.
In such a context, it is possible to recommend developing online banking services, which should be accompanied by training programs for employees. In such a way, employees will be able to improve their qualification and performance and they will use the full potential of banking services. On the other hand, banks should pay attention to employees' relationships with customers, which should be positive.
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