Case History
HSBC Card Services
Client situation
Midland Bank, part of the HSBC Group, with over 1,700 branches, is one of the largest retail banks in the UK. Its card and Electronic Banking Services Division supports more than 3.5m credit cardholders, 25,000 merchants, over 7,000 electronic banking customers and 70,000 retail outlets together with over 3,000 self service machines. The Operations Director, Rod Duke, was three years into a major series of changes at card services, and had already significantly increased annual profits. Now he wanted to change the culture - the aim was to help everyone achieve their full potential, a by-product of which would be a further significant improvement in business performance.
Midland Bank, part of the HSBC Group, with over 1,700 branches, is one of the largest retail banks in the UK. Its card and Electronic Banking Services Division supports more than 3.5m credit cardholders, 25,000 merchants, over 7,000 electronic banking customers and 70,000 retail outlets together with over 3,000 self service machines. The Operations Director, Rod Duke, was three years into a major series of changes at card services, and had already significantly increased annual profits. Now he wanted to change the culture - the aim was to help everyone achieve their full potential, a by-product of which would be a further significant improvement in business performance.
Client problem
To deliver a significant incremental increase in performance, solely through enhancing leadership staff attitude, values and behaviour, having already exhausted increases due to tangible reorganisational, IT and process changes.
To deliver a significant incremental increase in performance, solely through enhancing leadership staff attitude, values and behaviour, having already exhausted increases due to tangible reorganisational, IT and process changes.
What we did
Supported the project stakeholders to:
Supported the project stakeholders to:
- Fundamentally transform the attitude and skills of senior and middle management
- Install effective and practical information and communication flow, both upline and downline
- Foster, and act as role models for, a much more collaborative and autonomous culture
- Encourage and organise all managers to staff to identify and embody a set of values, which served customer, organisation and individual alike
- Maintain an overview of the change, and make tactical decisions as appropriate
- Celebrate wins throughout
Results
Following this programme bad debts were reduced by 85%, fraud was reduced by 60% and profit in the following year was 20% better than budget.
Following this programme bad debts were reduced by 85%, fraud was reduced by 60% and profit in the following year was 20% better than budget.
"We had already completed all the 'hard' changes we could think of - BPR, IT - and I was sure there was more potential within our staff, but we didn't know how to access that.
With your help we unlocked the potential in our workforce, which made them more effective and productive, happier, more motivated and more responsive to future change requirements - plus our management now has top level change leadership skills.
The key to all this success has been the culture; the values the staff hold, the way they operate and the way they relate to each other.
Overall we raised annual profit contribution from 15million to 150million over a five year period."
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