by Derek Ezovski
June 4, 2010 10:07 A
“Traditional community banking, where long-term relationships matter more than statistical models, remains the future of banking in America. You recognize the need to take care of your long-term customers by dealing fairly with them in the good times, and by extending credit to them in the hard times.” – Sheila Bair, FDIC (March 19, 2010)
As a topic of discussion, I thought this quote from the leader of the FDIC at this year’s Independent Community Bankers of America (ICBA) conference was very much like what any company should strive to be to both their customers and employees. In many ways, community banking is a perfect microcosm for business in general. If we as businesses and people followed this version of the “Golden Rule”, how great would our companies be? Let’s analyze this in two parts – good times vs. hard times.
Well, for the longest part of the last decade, we were part of a great economy. Therefore, it was easier to offer more to customers and employees. Times were good and generosity seemed plentiful. Bonuses were favorable, benefits were good and attitudes typically were positive. In my opinion, this is when it was easy to run a company and deal with your employees. Because of the opportunities that existed, if you lost an employee, you were able replace them. But at least employees were typically free to choose if they wanted to be where they were.
However, in the recent past, we saw a tougher economy and fewer options for employees. Basically it has been a “buyers’” market for companies. What remains to be seen is what happens when the economy recovers which, according to many economists, appears to be happening. I am sure we will see.
Either way, the quote by Ms. Bair is indicative on how businesses should be run. While it is inevitable that change is always going to happen, managing your teams and clients should not change.
It is my sincere hope that ORMS is able to live under this mantra during both good times and tough times. Based on my past experience and feedback from friends, colleagues and employees, this is attainable. In my numerous discussions with community banks throughout the country, they continue to promote this atmosphere and win over more and more clients. I look forward to working with our customers and employees under this mantra as we continue to grow by making our clients’ lives easier by helping with their property and environmental issues.