Communication is an elephant size issue for community bankers. Limited resources reduce training and technology budgets larger banks take for granted. Customer and employee relationships are often tight and long-term. Community bank officers and employees often have extensive influence in the community. All of these conditions put stress on communication.
A significant form of internal communication today for any organization is email. Have you ever considered the fact that strategy execution can be stopped or slowed through ineffective communication? Internal communication risk is one category of over 500 key business risks we look for in an enterprise risk assessment for a community bank. Reducing business risk and improving strategy execution by improving the way your bank manages email is very possible.
7 Steps to Better Strategy Execution with More Effective Email Management
My favorite book on the subject is, "The Hamster Revolution: How to Manage Your Email Before It Manages You", Mike Song (Author), Vicki Halsey (Author), Tim Burress (Author). When you improve email communication, you improve your ability to execute strategy with zero cost.
Some of the key concepts I have taken from this book and others for managing email effectively in your community bank are as follows:
1. Don't send email if you don't want an email back (reduce output and reduce your input, limit reply to all)
2. Powerful subject line - Make your "Subject" both powerful and consistent
3. Always call to action - Summarize the call to action for every email (this works well for company agendas too)
4. Summarize content - Prepare a summary of the email content
5. Concise - Make the detail as concise as possible
6. Stand alone - Make the email stand alone and without jargon and informal abbreviaitons
7. Appropriate - If the email were on the front page of the business section would your employer think it appropriate (skip anger, criticism, wisdom, jokes, etc.)?
In my experience managing email in this manner puts the burden of communication appropriately on the sender and not the receiver. I had to train myself to take the time and effort necessary to make my email communications effective. Here are a couple of examples of my own emails before and after. I think you will get the point from this.
Poor Email Example
To: COO, SVP Ops
After brief discussions with retail P&P committee members (regional managers, BC managers, Me) today, I learned that the resolution is a document that prints from Pro Systems. It was included in the set of forms that came with the software, but Legal has reviewed it. One should be printed and signed for each account opened under a company; however, it is possible to print these prior to selecting a specific account from a drop down box for that company. It was several committee members' perception that this document would take precedence over a signature card. When signers change on a company account new signature cards are not signed, but new resolution documents are. Resolutions also provide more lines for signature than a signature card. All this begged the question, "Why do we need a signature card then?" I was told the signature card states the account terms and agreements and the resolution does not. With all this said, I am thinking we need to snag the signatures on the resolution and not the signature card. I will continue to ask questions to various departments before taking that path. Just wanted you to know what I know so far.
What's Wrong
a. Why is this email going to senior management?
b. What action is required?
c. There is a lot to read and interpret.
Not Perfect, But More Effective Email Example
To: Mike
Subject: Action Request - Use John's assistant to pull data for asset reviews
Hi Mike – I hope you enjoyed some time off.
Action Requested
• Move forward with using Patti, John Boston’s assistant, in the pulling of data and file document images for the Asset Review staff.
Background
1.As we discussed, in my work with the Asset Review staff they can spend often times 30% of their time gathering data and pulling images to prepare for the performance of a file review.
2.Asset Review maintains several database forms which must be populated through interaction with Banker’s Systems.
3.Critical images must be pulled from FileNet in order for the team to begin a file review.
4.Once Asset Review determines a particular document or other information is necessary to complete their review the staff spend a good deal of time following up to ensure these documents are received.
5.These tasks could be performed in a more cost effective manner by an administrative person.
6.Patti has noted that she has available time and has volunteered to assist us in this capacity. This is all work that could be performed at her desk, and replaces work she was performing for Accounting recently that has now gone away.
Mike – I am excited about the opportunities your unit has to improve the Asset Review process and enhance the value derived by management from the results of your team’s efforts. Thanks.
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