What’s keeping your team from cross-selling?

first_img“Why isn’t my team engaged?” I hear this question quite often during discussions about engaging the front line as part of a credit union’s marketing strategy. Before starting a relationship with a new client, we assure them that we can deliver leads via email, internet, phone, in branch…you name it. But if their front line isn’t engaged, those leads won’t turn into a new loan, a new checking account, or a new member. It’s up to the front line to catch the ball (the lead) and run it across the goal line. If they’re not willing to do their part, even the best leads will come up short. Have you experienced this challenge in your credit union? If so, what’s keeping your team from becoming fully engaged in your member-focused mission? Maybe they’re afraid of trying to accomplish something great. During the month of March, YMC’s Level Up Book Club read Daring Greatly by Brené Brown. As I sat down to write this review, I struggled with which way to go. Between leadership advice, parenting tips, and practical self-help principles, this book contained so much valuable information that it would be impossible to cover all the contents in a single post. To keep things simple (and to keep this article relatively brief), I’ll stick with one idea—one question, really. As a leader, do your words and actions turn your employees into paralyzed office workers who won’t take chances, or do they create passionate team members who feel the freedom to dare greatly?If you want to develop brave individuals who work to make things better, you must create an environment where your team feels comfortable being vulnerable. To do that, it helps to understand what the word “vulnerable” really means. It’s derived from the Latin word “vulnerare,” which means “to wound.” The dictionary defines it as “capable of being wounded or open to attack or damage.” Now, let’s apply it to a familiar setting—our credit unions. When we ask the front line to cross-sell or to dive deeper into the member relationship by asking questions, we’re essentially asking them to be vulnerable. We never know how a member will respond. Hearing “no” or being rejected isn’t easy, especially for those who struggle with self-worth issues that stem from past personal hurts. During a speaking engagement, Brené Brown asked her audience “How many of you struggle to be vulnerable because you think of vulnerability as weakness?” Almost everyone raised their hands. She followed up with another question, “When you watched people on stage being vulnerable, how many of you thought it was courageous?” Again, hands shot up across the room. Everybody admired those people who risked being vulnerable. Here’s the challenge you and I and your front-line team struggle with: We want to experience others’ vulnerability, but none of us want to be vulnerable ourselves.Time and time again, Brown’s research has shown that people disengage from work, school, and relationships in an effort to protect themselves from vulnerability and shame. People also disconnect when they feel that the person leading them isn’t living up to their end of the “social contract.” In other words, they resist leaders who operate with a “Do as I say, not as I do” mentality. Brown poses the question: “We don’t intentionally create cultures in our families, schools, communities, and organizations that fuel disengagement and disconnection, so how does it happen?” Fortunately, she also offers an answer by saying, “We can’t give people what we don’t have. Who we are matters immeasurably more than what we know or who we want to be.” So, how do we as leaders help our team overcome the fear of vulnerability—not just for the sake of cross-selling, but to erase that fear that keeps them from living their best life? There is a gap we need to fill in order to engage our team, a space Brown refers to as the value gap. “The space between our practiced values (what we’re actually doing, thinking, and feeling) and our aspirational values (what we want to do, think, and feel) is the value gap. It’s where we lose our employees, our clients, our students.”So, what about you? Are you encouraging your team to dare greatly? Is a wrong answer met with ridicule? Are new ideas met with a stuffy “That’s not the way we do it around here” response? Does the shy person who finally speaks up get ignored? Your response as a leader determines how engaged your team will be. One challenge you may have to navigate is the fact that your team’s willingness to share (or lack thereof) has already been determined by prior leaders, teachers, parents, spouses, and so on. For better or worse, every one of your team members has already been programmed. They have a root system in place that cannot be changed without a lot of time and attention on your part. As the leader, it’s your job to pour into those team members and encourage them to dare greatly. And while your credit union will undoubtedly benefit from this effort, there’s more at stake than that. When you pour into your team in this way, they don’t just become better team members; they become better people. The lessons they learn can be applied to their personal lives, which means entire families can be changed as a result of your investment. And THAT is a return on investment that can benefit generations to come! 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Bo McDonald Bo McDonald is president of Your Marketing Co. A marketing firm that started serving credit unions nearly a decade ago, offering a wide range of services including web design, branding, … Web: yourmarketing.co Detailslast_img read more

AP7 cuts gearing and adds risk-factor investments

first_imgSweden’s AP7 plans to introduce factor investing into its portfolio for the first time as part of a risk-reduction exercise.The national pension fund that provides the default option in Sweden’s Premium Pension System (PPM) will also lower the gearing on its equity portfolio.The SEK430bn (€41.4bn) pension fund said: “As a step in implementing the new strategic portfolio, which was decided in 2016, AP7 is now starting to invest in factor premiums.”The goal, it said, was to invest 10% of the fund in these strategies over the next few years. 
“At the same time, the normal level of leverage is being reduced to 25%,” it said. This is reduction from the previous normal level of 35%.However, the actual level of gearing was to be set even lower, at 15% percent, AP7 said, due to its previous assessment of market valuations.At the end of December, the pension fund’s actual level of gearing was around 25%, according to its 2017 annual report.Since 2010, a central part of AP7’s management strategy for its SEK396bn equity fund – which accounts for the vast majority of its overall assets – has been passive exposure to a global index with leverage of 50%. AP7’s default option pension product, known as AP7 Såfa, is a lifecycle fund combining AP7’s equity and bond funds.In 2015, AP7’s board opted to halve the actual level of gearing to 25% because stockmarket valuations were considered high. In December 2016, when presenting a new strategic portfolio to be implemented by 2020, it reduced the normal leverage to 35% from 50% in order to increase the room for manoeuvre associated with the change.The first step in introducing other risks then began in 2017, and involved increased exposure to emerging markets and private equity, AP7 said.The pension fund said the new management strategy was aimed, in particular, at reducing risk through diversification.“Another central part of the strategy is to systematically apply more dynamic risk-taking, where the fund’s overall risk level is adjusted to extreme market valuations,” it said.In February the pension fund put out a tender for advice on “active alpha” procurement, in part of its move to add risk-factor investments to its portfolio.last_img read more

Evosun Wraps Up Maniyafaru Land Reclamation Project

first_imgImage source: EvosunEvosun Sdn Bhd has just announced that the Maniyafaru land reclamation project in the Republic of Maldives is now successfully completed.Under this $2 million development scheme, funded by private company operating two resorts in the Maldives, Evosun created new land by using more than 380.000 cubic meters of sand.The Maniyafaru land reclamation contract was signed on July 1, 2017, and the work was successfully wrapped up last month, November 15, Evosun said in its announcement.Earlier this year, Evosun also completed the Meemu atoll Muli land reclamation program, creating 40 hectares of new land by using more than 1 million cubic meters of sand.Image source: Evosunlast_img read more

African Senior Athletics Championships Set for Record Attendance in Asaba

first_imgFifteen countries have already sent in their provisional list of athletes and officials ahead of the 2018 Africa Senior Athletics Championships to be hosted in Asaba, Delta State.After scoring a big point with the hosting of the inaugural edition of the Africa Junior Athletics Championship in Warri, which is the best in the series till date, Delta State is set for another big mark this time with the flagship Africa Senior Athletics Championships.According to the Chairman of the Local Organising Committee of Asaba 2018 African Senior Athletics Championships, Solomon Ogba, a record attendance is expected at the event. Ogba said that for the first time in the history of the biennial athletics championship, all the countries in Africa would be represented in Asaba.“I can guarantee you that we will be having a historic championship in Asaba as every country will be represented. The LOC will be sponsoring two athletes from all the countries so you can be sure that everybody will be present,” the former president of the Athletics Federation of Nigeria assured track and field aficionados.Ogba who played a key role in the successful hosting of first Africa Youth Championships which has served as a template in subsequent editions disclosed that the aim is to also make Asaba 2018 the best ever in the history of the Africa Senior Athletics Championships.“We want to set a new standard as far as the Africa Senior Athletics Championships is concerned, the goal is to make this edition as glamorous as the World Championships itself,” Ogba stressed.Aside from Nigeria that has entered 72 male, 69 female and 29 officials, the likes of Kenya, Algeria and Senegal are also planning a large contingent for the Athletics Championships in Asaba.Kenya has provisionally entered 34 male and 27 female athletes as well as 11 officials.Algeria has equally sent in entry for 31male and 29 female athletes on their roster with 17 officials,Senegal is coming with 30 male and 30 female athletes as well as nine officials.The Asaba 2018 Africa Senior Athletics Championship is to take place at the Asaba Township Stadium between August 1 and 5.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more