Bank Compensation Consulting

Focus: Working at the Highest and Best Use

"Working with Petey has been a valuable experience for our company. Her insights in evaluating the highest and best use of the individuals in the firm increased the productivity of our organization and empowered all to be more accountable in what they do. Her implementation of an "Issue/Solution" program gave us a tool for bringing important matters to top management for resolution on a timely basis. I highly recommend her work and value her as a resource."

Kathy Smith
President

Bank Compensation Consulting is a core group of professionals who have over a decade of experience working with more than 500 banks nationwide. By providing educational seminars and individual consulting, BCC helps banks increase profitability and remain independent through simple as well as complex benefit and incentive programs.

Challenge:

Petey was hired to clearly define the structure and the expectation of the company’s owners. There was a need to determine if they wanted a support group, or if they should empower the COO to manage the company. The goal was to hire, train, refocus, or fire according to the highest and best use to become a highly functional organization.

Action Steps:

  • The first step was to survey all of the employees to determine their expectations of the goals and values of the firm, their personal functions and job descriptions, and allow for suggestions for creative improvements.
  • Petey served as a business coach to each of the top four executives. She began with prioritizing each position by keeping, eliminating or delegating to the highest and best use.
  • Petey established a method of initiating “Issue/Solution” based roundtables with the executive committee of BCC in the support of the strategic plan with the benefit of addressing issues in a timely and more productive manner.
  • Petey and the top management instituted a formula for hiring and firing on purpose and training to capabilities with the goal of everyone working to their highest and best use.

Results:

Petey’s plan gave the firm’s owners the freedom to be visionaries who lead and sell with a COO in place to manage the company. The “Issue/Solution” based roundtables are now relied on for confirmation of a new policy, input on a new idea, solving a dilemma, or getting feedback before proceeding. This process resulted in saving time and money on the front end. It became clear which jobs needed to be expanded, work in unilateral positions, or be eliminated. Some positions were realigned to work at their highest and best use, resulting in increased productivity and less expense. Hiring on purpose allowed BBC to hire within the goal of the strategic plan. Training to capabilities allowed some employees to have the opportunity to work at their highest and best use and also allowed the firm to know the strengths and weakness of their workforce and adjust accordingly.