Preparing for the future: strategies for banks

Preparing for the future: strategies for banks
Document type
Article
Corporate author(s)
Hay Group
Publisher
Hay Group
Date of publication
1 January 2009
Series
Viewpoint
Subject(s)
Trends: economic, social and technology trends affecting business, Management & leadership: including strategy, public sector management, operations and production
Collection
Business and management
Material type
Reports

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This article suggests seven strategies at the heart of any survival plan for UK banks; specifically:

  1. Get good at stakeholder management
  2. Do not cut costs across the board
  3. Build a new culture around risk and performance
  4. Conduct talent management for tomorrow not yesterday
  5. Make mergers work: protect intangible assets and avoid toxic acquisitions
  6. Focus on real customer engagement
  7. Build new, balanced pay structures

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