A package full of change: An interview with Ian Andrews of Commonwealth Bank of Australia | McKinsey & Company

The fast pace of change in financial services can whipsaw frontline employees. One bank has responded with a new approach that makes change easier and faster for people to absorb.

Source: A package full of change: An interview with Ian Andrews of Commonwealth Bank of Australia | McKinsey & Company

Ian Andrews: Let me give an example. Our next change will introduce a number of new customer initiatives, including enhanced customer-analytics capabilities and improvements to technologies delivered in earlier packages. Historically, we would have delivered most of this scope independently, each part with a whole supporting change program. That would feel overwhelming and disjointed. Instead, we have crafted everything together into a single package.

For the front line, the message is fairly simple: “We’ve given you new technology to help you have better conversations with customers and to better identify their needs. On top of that, we’re launching new offerings to help you satisfy important customer needs when it matters most to them.” We also see a huge benefit in overtly calling out that the package is aligned with and built on capabilities introduced in the preceding package.”