Why you should care that your bank’s employees are happy

We’re all consumers, and we’re constantly bombarded with different options of what and where we should, well, consume.

Whether it’s where we buy groceries, where we take our dry cleaning or where we bank, certain factors keep us coming back as satisfied customers -- or cause us to take our business elsewhere.

Chief among those factors: good customer service. How many times have you or someone you know vowed never to do business with a company again after a terrible customer service experience? Probably a couple.

So, how can companies help ensure customer satisfaction remains priority No. 1? Looking internally makes all the difference as studies show a link between good customer service and high employee satisfaction.

That’s one reason why Alliant has always gone to great lengths to ensure employee job satisfaction through company-wide programs and initiatives, which also enhance Alliant’s ability to provide the best service and value possible to its members. The result? Alliant was recently named the No. 69 Best Medium Workplace in the country by Fortune and workplace consulting firm Great Place to Work®. According to their independent surveys, 98 percent of employees surveyed said Alliant has a great atmosphere and they feel proud to work for Alliant.

“This recognition is a testament to Alliant’s vision to nurture our company culture, which has played a key role in engaging our associates and driving our business results for over 80 years,” Alliant CEO Dave Mooney said. “That inclusive, empowering culture is one of our greatest competitive advantages and is something we are incredibly proud of.”

Some major factors that lead to workplace satisfaction are respect, trust, security and healthy environment. For example, Alliant employees gave high praise in their assessment of the honesty and quality of communication across the company, according to Great Place to Work’s “Trust Index” survey.

Why are happy, engaged employees a competitive advantage for businesses like Alliant? Let’s break it down:

• Job satisfaction reduces stress. Stress can affect job performance, mental and physical well-being, and even decision-making. The recent Wells Fargo scandal is an example of how a high-stress, high-pressure work environment can lead employees to make unethical choices.
• Satisfied employees have a more positive attitude, which spreads to co-workers and everyone else the employee interacts with in their job, including the customers they work with on a day-to-day basis.
• Employees who are happy with their jobs are more willing to participate in training programs and are more eager to learn new technologies. As we know, technology is rapidly changing in the banking world (take Alliant’s new mobile app, for example), so if your bank’s employees are happy, they’ll be more apt to learn and change with the times.
• Engaged employees lead to happy customers. According to the Northwestern University Forum for People Performance Management and Measurement, companies with engaged employees have more satisfied customers than companies with unhappy, disengaged employees.

The bottom line: If your financial institution’s employees are treated with respect and work in a trustworthy environment, then your financial institution is much more likely to treat you the same way.

So when you’re choosing your preferred financial institution, really consider the people answering your calls, helping with your transactions and working behind the scenes. Because their job satisfaction ultimately can lead to your customer satisfaction.