Lean-Kaizen for Branch excellence in retail banking
Today retail banks are facing too many challenges to improve profitability. Many of them are investing in technology up-gradation, infrastructure, marketing, distribution but still, they are not getting results as they want like ROI. The main crunch of improving operational efficiency in the bank is to develop new skills.
We observed many banks are lacking in human resource management. The main reason for decreasing the performance of banks is an unorganized way of doing a job, no standard procedures and lack of consistency in process, demotivated staff, team management, low productivity of staff, lots of process errors, lack of work management and work balancing system. We study the working of banks and come up with the methodology “Lean-Kaizen for Branch Excellence” to overcome the above challenges.
Kaizen is a Japanese word “Kai” means change & “Zen” means for betterment. Kaizen means continual improvement by everyone, every day and everywhere for the betterment of work and life. Kaizen simplifies the process, enhance customer experience, reduce cost and enhance revenue through continual process improvement.
“Lean-Kaizen for branch excellence” is a three-step model for improving branch performance
- Inspire, engage and train staff to develop kaizen mindset and spread continuous improvement culture in everyone’s day to day work to achieve KRA/Goals and enhance performance
- Install Kaizen behavior to develop kaizen mindset
- Customer-focused – Take decisions based on the voice of the customer and real workplace situation, Improve process basis on customer feedback.
- Fact-based decision- Focus on real issues based on data, not people, identify root cause & eradicate them.
- Continual Improvement- Do it the right first time & every time. Follow the PDCA cycle and replicate the best practices.
- Learn a problem-solving method to improve everyone’s capability
Use below Four-step problem-solving technique-
- Find – Identify the problem by going to a real workplace by asking what is the problem?
- Analyze- Find the root cause of the problem by asking 5 Why’s?
- Solve- Solve the problem by eradicating the root cause of the problem
- Transfer- Implement the system and measure performance, standardize the process so the problem will not occur again.
Retail banks are at the point of inflection; they need to take a pace for acceleration through the kaizen mindset. Success cannot be achieved without clarity in direction, and speed & agility in execution. This is the right time to adopt the Lean-kaizen methodology. Stay with us for improving the operational efficiency of the retail banks.
Benefits of Implementing Kaizen for Branch Excellence:
- Improve productivity
- Reduce process waste
- Improve service delivery
- Customer satisfaction
- Cultural change
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