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by James Robert Lay on May 31, 2022
Brief Summary of Episode #197
Capitalism has launched our society into an age of prosperity.
Financial institutions are the vehicles that help sustain that upward mobility, which means they are in a prime position to help their constituents thrive.
Yet, FIs often neglect one or more of their stakeholders - employees, customers, shareholders, and communities - at the expense of another.
A flourishing community mirrors a healthy local bank or credit union.
So what can FIs do to ensure that all of their constituents - their stakeholders - are set up for success?
Jeff Marsico, president of The Kafafian Group, Inc. joins me to discuss why focusing on community health is good for banks.
He elaborates on several points from his latest book, Squared Away, such as why many FIs are missing out on an opportunity to expand assistance to niche communities.
Jeff and I go on to talk about roadblocks to cultivating a solid culture in the ever-expanding domain of working remotely.
We also dismantle the stigma attached to the notion of accountability in the workplace.
Together, we can transform our communities through digital growth.
Key Insights and Takeaways
- Community banks embracing niche branding to empower their consumers (6:00)
- How FIs balance the needs of ‘the four stakeholders’ (8:59)
- The challenge of building a strong culture in the remote workplace and why accountability has been misappropriated as a negative asset (28:06)