Banking Executives’ Feedback is Promising
I just love it when executives fundamentally grasp the underlying benefits that Six Sigma can deliver – regardless of their challenges. The feedback and the questions that we received from CEOs and executives at the Illinois Bankers Association’s 116th annual conference was further proof that the banking sector faces two different, but connected types of challenges.
On one side we have the challenge of controlling efficiency ratios. These executives have taken an active role in identifying and eliminating inefficient products and services. And they recognize that for them Six Sigma is not about cost reduction but better defining and delivering service excellence.
On the other side of this issue we have the group that needs to focus simultaneously on improving their efficiency ratios AND service level. Of course there are interdependencies between these two challenges (inefficient processes almost always lead to poor service). But this group fortunately recognized that their starting point with Six Sigma had to be with stabilizing their processes – which would give them incremental improvements in service. Once the processes are improved then they can focus on the customers demanding top notch service.
A forty five minute presentation slot is not always sufficient to effectively present the essence of Six Sigma (especially when the attendees have had a very basic exposure to this “new methodology”). But as long as these decision-makers understand and appreciate the core philosophy of Six Sigma I think we are safe from being compartmentalized as simply undertaking a “cost cutting” effort.
S. Shaffie ProcessArc, Inc. - Financial Services Six Sigma
