Transcription:
Trends Relative to Employees

Bill Klaproth: When you've been searching for the right insight, advice and information on financial marketing, you know where to go. The Speakeasy, the exclusive source for financial marketing insights with a shot of human, starring Kelly Hellickson and Hilary Reed from EmpowerFi, strategy-infused data-driven marketing solutions for financial institutions nationwide. And on this episode, Kelly Hellickson welcomes Jenny Bengeult, Executive Vice President and Director of Design of Momentum, Inc, integrated plan, design-build firm as they talk about pre, during and post-pandemic trends relative to employees. Now, here's Kelly Hellickson.

Kelly Hellickson: Thanks, Bill. And today, we have Jenny Bengeult back with Momentum. Jenny, as always, it's our absolute pleasure. Thanks for joining us for this third segment today.

Jenny Bengeult: Well, thanks so much for having me. I'm happy to be back.

Kelly Hellickson: Let's dive right in. Let's talk a little bit about employees at financial institutions nationwide and what we're both seeing as organizations that work with financial institutions day in and day out in terms of employees and frontline. And then I think that, as you and I talked before, I think that there's a lot of brand equity that we can discuss as well. So what are you guys seeing at Momentum? What do you think the new increased value of the frontline is and will be in the future?

Jenny Bengeult: Well, of course, credit unions, community banks have their retail employees that are branch-centric that are meeting with members and customers day in and day out. And then there's the back office that really supports all of those member needs and functions. And we really saw a split when the pandemic happened, right? Where it varied state by state, county by county. You know, do branches remain open? Are they drive-through only? And how do the employees handle that? Do they become service workers? Are they an essential need?

Banking of course remained open. We need our financial institutions to get our work done and really just to survive. So they were deemed essential workers. But I think many went to a drive-through only, or even closed several branches through the pandemic and then slowly started to reopen them by creating, social distancing, putting up plexiglass barriers. And the employees had to adapt and really learn how to interact with members and customers in a way that was very different from the past. So we are seeing branches reopen. We're seeing employees. I think you were seeing like a willingness and that they want to reconnect with people in physical environments again.

We also saw quite a few move to video tellers and people being accessible through technology and things during the pandemic as well. So, I think we're seeing people just flex and adapt. There's been a lot of personal growth and opportunity for people as well through all of this too.

Kelly Hellickson: Yeah, absolutely. And I think that when Hilary and I go into a financial institution and we help train the frontline, right? It's just a simple conversation, but it is very, very sales-oriented and it's a connection. And I think you're right. I think we're seeing a lot of folks wanting to, number one, get back to the frontline, but also taking it a lot more seriously, having a lot more pride because they've seen how instrumental they are to the organization's overall success, right?

When it's put into perspective for you as frontline, I think, it's really kind of a warming feeling and I think that a lot of our clients have asked us leadership-wise, "We're going to implement and institute some incentive programs." And I think that's been really great because they are considered frontline. And at first, there's some MSRs and tellers in frontline that they're in high school yet, you know. They're still 18 years old and it's kind of a very large responsibility when you look at it that way. And if your back office folks are working remotely, you're kind of in front and you're on your own if there's something that's an immediate question or need. So I think that sink or swim mentality has been very evident and we've seen with all of our clients anyway, that it's been a very, very overall growth-oriented role that really has led to some brand ambassadors, if you will, that starts with the frontline. So I'm not sure what your thoughts are on that, but let's talk about that and how it ties back to brand a little bit.

Jenny Bengeult: Oh, absolutely. I'm sure you see the same things we do, but sometimes, you can have a member that becomes a lifelong member because of their connection to a teller and that teller is then the brand or the institution to that person, so I think they're absolutely the first touch point.

The representation of the institution or the organization to membership customers and even the greater community. We've seen branches really thrive in hyper-local or neighborhood-based communities because of a great branch manager that's great at community outreach and things like that. Or tellers, MSRs, universal associates that are willing to really get out there and make connections within the community. So I think the brand can really live and die with those what we're calling frontline workers, but are the people that are really instrumental in making the brand come alive to members and the community at large.

Kelly Hellickson: Yeah. I think you're absolutely right. And I know I can pinpoint a couple of times, during the last year that it was a tumultuous year at best. And sometimes, like you said, that drive to the office, you know, you miss it and that 10 minutes of just getting in the mindset. Well, a lot of us didn't have that. And two times I can pinpoint that I went through the drive-through at my credit union and I was met with the same smiley face. Her name is Sherry, and I'm telling you, man, she was just-- both times she helped me not only navigate what I needed, but it was a really long wait time, you know, you're in the car. And once you get up there and it's your turn to perform your banking transaction, she really just took her time with me both times. And the kids were in the car. One time I had my dog. And so it was just something where she made them even a part of the transaction. And I think when you can do that, when you can take people in a vehicle and you can basically bring them into the conversation, the fold, and have them leave that drive-through line after sitting there for quite some time, probably not exactly excited, but once you get up to that window and she makes you-- it just kinda changes your whole day, right? And those interactions are just pivotal for organizations like that and for the community at large.

Jenny Bengeult: Absolutely. I think that's why branches won't go away or why we think they won't go away anytime soon, is people still crave those human connection, whether it is behind the drive-up window or even behind a video screen. People still want a human connection. When they make the drive or the walk or whatever it is to come into a branch, they want to then meet with a live person. And that's why those people that are in the branches are so pivotal in creating those connections with people.

Kelly Hellickson: Yeah, it does. It really makes a world of difference, you know. And the first time I was with my boys and the second time I was, like I said, with my dog and he was getting a little squirrely and he's a big boy. So he wanted to crawl up in front. And when she was like, "Can Pantheon have a treat?" I was like, "Absolutely. He heard the T word." And that kid was just like, stood at attention and Pantheon's a fan of Sherry, just like Jake and Carter and Kelly are, I guess I'll just put it that way.

Jenny Bengeult: That's great. That's great.

Kelly Hellickson: Yeah, it is. And I think that, as we navigate the next normal and most of us getting vaccinated and we're getting back to that hybrid model of work and in office versus working from home, I think that it's a little bit of a breath of fresh air. And the Sherries of the world, I think that we owe them just as much as the next. And I hope we do see increased salaries because my mom was a teller for, gosh, two decades before she transitioned into the mortgage and lending department. And she was absolutely, more so I think, instrumental to the organization as frontline versus back office. So I think it's a new day and I think that we'll see salaries reflective of that.

Jenny Bengeult: I agree. And also just cross-training, I would say. We're seeing a move from tellers to universal associates or universal bankers that able to do more the member or the consumer when they come in too. So, just great opportunity for career paths there too, and that credit union banks, they're great places where you can really start at the ground floor and move your way up. And not that even a branch-facing position is considered the bottom floor anymore, but there's just so much opportunity within that environment to do so much more now as well.

Kelly Hellickson: Absolutely. Very, very well put. And I think as with anything in life, opportunity, knowledge, education, and growth, that's I think hopefully what the majority of us are all here for. So, I think it was really good conversation. Anything else you're seeing, Jen, with regards to the clients of yours and what that new frontline mentality is?

Jenny Bengeult: I think it's really figuring out how to get the conversation away from a transactional conversation to an authentic conversation with members and consumers that come in and really figuring out what did bring them in that day, you know. No longer, especially post pandemic, when can use your phone or any other sort of mobile technology to deposit a check or even, if you need to get cash anymore, if you don't want to use Venmo and you actually need cash, you can run out to an ATM and get that.

So when people are coming into the branch, it's usually to solve a complex problem or get advice on an issue and just arming employees to have those kinds of conversations, providing them with training and primers and things where you can get the conversation to go from a routine transaction conversation to a conversation that maybe helps the client, the consumer a little bit more. And it just all goes back to then that authentic connection and really people helping people, which is what credit unions are all about.

Kelly Hellickson: Absolutely. And creating lifers, like we talked about in our first segment. So absolutely very, very well-rounded conversation. Jenny, as always, it's really, really great to speak with you. Thanks so much for your time and hopefully we'll have you back real soon.

Jenny Bengeult: Thank you for having me. Great chatting with you as well.

And thanks for joining us and to connect with Hilary or Kelly to simplify your credit union marketing needs with EmporwerFi's full service marketing and design support, please visit empowerfi.org. You can also email info@empowerfi.org for more information. This is the Speakeasy Financial Marketing Podcast. Thanks for listening.