Imagine a company where employees cover their uniforms in public to avoid being recognised. This is what Royal Bank of Scotland colleagues were doing – the public was angry in the wake of the financial crisis and employee morale was low.
Royal Bank of Scotland is very much part of Scottish heritage, but the banking crisis and negative press led to a loss of identity and reputation.
The business needed to reconnect with the Scottish community.
Global IT services company CSC worked in partnership with RBS to tackle this. Starting with stakeholder engagement, and extensive planning, CSC found that not only was the brand tarnished, but it was also non-differentiated and under-invested compared to competitors. Fatigue had set in and there was a lack of direction. CSC needed to facilitate a strategy about actions, not words.
Royal Bank of Scotland wanted to repurpose its business in Scotland. CSC’s brief, therefore, was to lead the development of a Target Operating Model and Transformation Roadmap for Branch and Private banking.
Wanting to do what was right for its customers and communities, the business would use this solution to achieve its five-year goal to provide real help, in real life, by realising more customer needs than any other bank.
If successful, this strategy would improve engagement, staff morale and customer satisfaction.
Unlike other consultancies that merely provide an answer and walk away, CSC helped Royal Bank of Scotland implement the strategy and drive the bank forward.
CSC’s development of the plan followed an approach called ‘Why What How’, tailored to the bank’s needs:
- “Why”: CSC and the bank’s regional directors established a clear purpose of the business in Scotland.
- “What”: CSC presented a choice of core business models, before going through a structured process to choose the right one. Actions and metrics were structured following a ‘balanced scorecard’ framework.
- Top-to-bottom: Linking vision to operations.
- Right-to-left: Ensuring alignment through the organisation.
- Outside in: Introducing external ideas to challenge thinking.
Only CSC follows all three principles to deliver its clients an all-encompassing, sustainable change.
Effective project governance/stakeholder engagement was ensured by regular input from focus groups and through workshops with key people, a three-level governance process, and the ‘balanced scorecard’. A tailored, deliberate ‘light approach’ (i.e. not too bureaucratic) ensured effective project management.
Focusing on integrity and adding the most value, CSC forged a strong relationship with RBS by combining…
…Heart: Creating a belief in the purpose by reinforcing what was important to the bank.
…Mind: Presenting the science, particularly the research, to ensure the bank makes quality, informed decisions.
Although Royal Bank of Scotland is only one year into its five-year goal, the success of the ‘Scotland Story’ CSC is already evident:
- The bank has consistently and positively engaged with Scottish communities.
- Customer satisfaction has improved.
- Senior staff are happier.
What's more, colleagues now go out wearing their tartan scarves and ties – and are proud to do so!