In-Store Team: Hiring the Right Teammates

Individuals staffing your In-Store Branch exhibit key characteristics such as:

• Aptitude: Demonstrates desire and ability to develop one’s skill set and level of confidence.
• Communication Skills: Ability to engage others in conversation, interact with shoppers within the store and demonstrate potential to present the financial institution’s product/service line eloquently and effectively.
• Competitiveness: Exhibits a strong desire to win.
• Creativity: Imaginative skill lending itself to forward thinking ideas in the areas of marketing, relationship building and business development practices.
• Customer Relations Skills: Ability to discover customer needs and creatively present solutions. Demonstrates desire to be responsive in a timely manner.
• Flexibility and Adaptability: Expresses willingness to be available during extended hours and weekends as well as desire to participate in branch goals.
• Goal Orientation: Driven by a set of standards to meet and exceed individual and collective expectations.
• Good Work Ethic and Work Habits: Consistently on time, available for extra duty, takes direction, works well with co-workers.
• Initiative: Has shown desire to accept more demanding duties, has applied for higher position(s).
• Leadership: Capacity to influence others in the accomplishment of common goals. The level of a leadership role is not as important as the fact that a person accepts whatever role is requested of him or her.
• Listening Skills: Aptitude to gain another’s perspective before presenting a response.
• Positive Attitude: Displays a healthy self-image and a commitment to maintain proper perspective through any set of circumstances.
• Professional Demeanor: Serves as a positive reflection of the financial institution and arrives to work in business attire.
• Sales (especially retail) Background: Prior experience in a sales environment.
• Team Player: Demonstrates reliability to work cooperatively with others and to be dependable to complete his or her own responsibilities.

Store patterns vary, and so must staffing patterns. It is to be expected that certain time frames during the day will be heavier than others. Typically, there is increased traffic within the retail store during the lunch time period and after regular working hours. Please note that this may not necessarily be 5:00 PM. Local business schedules, traffic patterns, and other factors will influence when the customers actually get to the store. If the store the financial institution is moving into is already open, it would be wise to monitor customer flow prior to the In-Store Branch opening as well as ask the staff of the store about customer flow. If the store is not opened yet, local area knowledge and “common sense” decisions should help guide staffing schedules. These schedules may require adjusting once the store’s traffic patterns are established. Also, determining branch hours will need to take in consideration the peak times for the retail store. Your goal is to become the most convenient financial institutions for the retail shoppers. Remember, refer to your lease as a guideline for meeting minimum hours of operation.

An important function of the In-Store Branch Manager is the proper staff scheduling of the branch. He or she must constantly work toward having the proper amount of staff, at the appropriate times, to handle transactions and market the branch during heavy traffic periods.

As stated earlier, the staff of the In-Store Branch is the most important ingredient for success. No amount of marketing or promotion can replace the impact of a focused, motivated staff. The question of finding the proper number of staff members for a location is answered in different ways by different institutions.

Obviously, the total hours and total days open each week are a leading factor. The existing market share of the institution will also play a role in the operational burden placed on the staff from the start. It will be difficult for the staff to aggressively market products and services if overwhelmed with transactions. Much of the impact of a strong retail sales-oriented staff will be lost if their number is such that existing business takes up the great majority of their time. While it is wise to staff any branch as lean as possible, consideration should be given that the sales potential of the branch is not short-circuited by understaffing.

It is recommended that a traditional in-store branch that will be “open” 6 days per week, at or around 50 hours weekly, be staffed with at least 4.5 to 5 Full Time Equivalents (FTE). A sample structure would be:

A sample structure for 7 days at or around 60 hours with 5 to 6 FTEs:

This rule of thumb will obviously vary according to total hours opened and total transactions being handled. Often, plans are made for the addition of an extra one or two Part-Time FSRs after the branch has had an opportunity to establish a customer and transaction pattern.

NOTE: Your training consultant will work with you to determine staffing models based on the type of branch you are planning. For example, a cashless branch (having a full service ATM or ITM) can operate with lower number of FTE’s.

• In-Store/Retail Regional Manager Job Responsibilities
• In-Store/Retail Branch Manager Job Responsibilities
• In-Store/Retail Assistant Branch Manager Job Responsibilities
• In-Store Financial Services Representative

One of the most frequently asked questions of financial institutions seeking to locate appropriate personnel for an In-Store Branch is, “Where should we look to find these people?” While there is no one profession or type of location to look for proactive, retail-oriented people, there are a few areas you may wish to consider.

Looking Inside the Financial Institution

The first and most obvious place to look is right there on the financial institution’s existing employee roster. While it is possible to staff an In-Store Branch with banking “rookies,” there are obvious advantages to having a person(s) with experience and banking knowledge on the staff. The reason some existing personnel sometimes have difficulties adjusting to the in-store environment is simple. Consider this: If a person is with a particular job for any amount of time, it is usually because they enjoy certain aspects of it. In many circumstances, the “features” that existing, (especially long-time), employees enjoy are the work environment and schedule. The first thing thrown out the window at an In-Store Branch are the traditional environments and schedules.

This in no way means that a long-time employee may not enjoy and excel within an In-Store Branch environment. It is therefore important that existing employees not be “disqualified” from consideration simply because they are currently working in a traditional setting. Actually, the In-Store Branch may be the perfect environment to allow existing “over achievers” and “driven” personnel to prove their ability and expand their skills.

In many cases, it is not possible or prudent to staff the In-Store Branch totally with existing associates of the financial institution. The goal then becomes locating individuals who “fit the mold” of an In-Store Sales Associate. The “ideal” Sales Associate may presently be out in the work force in any number of different fields. Often, a published or online employment advertisement is appropriate to gain their awareness. Remember, those individuals currently employed in the retail industry are typically accustomed to working extended hours and on holidays. They understand the sales mentality, are goal-driven and possess the flexibility required to survive the retail environment. Some institutions wish to physically seek out individuals whom they believe “fit the mold.” While by no means an exhaustive list, the following professions and/or fields are areas that may be suitably “head-hunted” for in-store staff members:

• Retail Store Manager
• Retail Store Assistant Manager
• Retail or Department Store Sales Personnel
• Restaurant Chain Manager
• Restaurant Chain Assistant Manager
• Restaurant Chain Personnel
• Competing Financial Institution Personnel
• Local College Students
• Grocery Store Representatives (e.g., Cashiers, Cash Office Managers, Head Cashiers, Department Managers)
• Sales Manager
• Car Salespersons

Remember these associates become the face of the financial institution, therefore as you search to identify the employee to be on your In-Store team, consider their personality. It is easier to teach your financial institution policy and procedures to a person with an outgoing personality. On the other hand, no matter how much experience a candidate has or how good they look on paper, if they are not outgoing they will not thrive in an In-Store environment.