Give Yourself & Staff a Performance Booster Shot

I get letters from all over.  I decided to share a note from one of my favorite bankers who is dedicated to professional development - for herself, as well as her team.  She learned to use the weekly report in my Supervisor Boot Camp a few years ago.  I am passionate about utilizing a weekly report.  Not everyone shares my passion but everyone who uses one knows the value of it.  Here's how I teach it. 

Every Friday by 3 PM, everyone turns in a weekly report to their supervisor.  It's basically an outline with the current date and the name of the individual completing it.  The outline contains   three headings, Accomplishments, Problems and Plans.  Under each heading, you list bullet points or key factors that are important to remember or vital to communicate to the boss.  The manager is to create one as well and share with all his/her direct reports.  The Weekly Report ensures communication and it provides tracking and accountability for both parties.  When I receive an employee’s weekly report, I like to write directly on it, offering my responses, copy the report and give it back to my employee.  Now we both know that we both know what went on that week.  

Here is what my friend, the banker sent me:

I have been using the weekly report with my staff since last year.  I have seen a decrease in what is in the reports and even them skipping completing them.  What suggestions if any would you have to re-stress the importance of the content and completion of these reports- outside of the obvious that I require it?

Here was my response:

Are they doing a "to do" list every day? 

I have always reminded my team that the "to do" list and calendar are the perfect tracking tools for pulling together the weekly report.

Manage by walking around and ask to see their daily to do list every day or every other day.  If they don’t have one, help them create one on the spot.  A to do list helps you focus and prioritize.  Helps you to not waste time or forget what needs to get done.

Ask them to do a quarterly summary (right now this week you could ask for a “first six months of 2013 summary”) of the their weekly reports and self-assess how well they think they did with regard to planning, problem solving and getting goals met and stuff done. Nothing is more motivating than to see what progress you’ve made or need to make!

Remind them the report is for them.  It empowers and enables them to track their success, to provide them accountability, credibility and planning.

The key to success is having a plan and executing it.  Act like a turtle.  Stick your neck out when you have to get where you are going.  Slow and steady.  Pull back occasionally, stay headed in the right direction, watch out for getting run over and you will get to where you are trying to go!   Learn to read the signs for when you need to step it up and when you need to kick it in gear and have a sense of urgency.  Responsiveness and persistence will pay off.  

Managers remember this; develop a culture that supports learning. Demonstrate by your actions that you believe continuous learning is vitally important. Invest some of your budget dollars in training and education. Consider a reimbursement plan for courses employees take through local colleges. Allow employees to click here to continue reading Ten Techniques for Developing Others!

Still learning,

Honey

Twelve Factors to Monitor for Check Kiting

The Federal Bureau of Investigation defines check kiting as "a scheme which artificially inflates bank account balances, in accounts that are under common control, for purposes of obtaining unauthorized use of bank funds, through the systematic exchanging or swapping of checks between these accounts, in a manner which is designed to misuse the float that exists in the banking system." 

Not everyone that writes a check and then rushes to the bank to cover it is kiting.  Kiting is a crime when the kiting steps over the line from practice to crime when the initiators of the activity intend to obtain something of value by trick, deceit, deception, or swindle.

According to law enforcement experts, check kiters generally have a professional appearance and manner. The professional check kiter usually has a good working relationship with his or her financial institution, regardless of whether the kiter has a legitimate or bogus business. This good relationship eventually works to the disadvantage of the bank because personnel are much less likely to be suspicious of "good" customers.

The American Bankers Association describes check kiting as "the process of floating worthless checks between accounts established in two or more banks." ABA goes on to state "a kiter is able to create the impression of having a real balance in each of the banks by carefully timing deposits and checks, and taking advantage of the time needed for checks to clear."

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What to look for:

1. A high number of deposits-usually several per day.
2. A high percentage of deposited funds coming from accounts under common control of the suspected kiter.
3. Checks in float many times greater than closing bank balances.
4. More "real" money is being taken out than put in.
5. Deposit and withdrawal activity conceals negative actual balances.
6. Total dollar debits and credits are almost equal.
7. Many deposit items drawn on the same bank(s) or many checks payable to the same payee.
8. Overdrafts covered with checks and not with cash.
9. Checks written in "round" dollar amounts.
10. Frequent inquiries regarding account balances.
11. Frequent use of different bank branches.
12. Frequent use of ATMs to make deposits.

Kiting involves checks from other institutions that appear to be drawn on an account established by the same account holder.  Certainly, not all checks of this nature are kiting schemes.  But alert tellers always watch for potential kiting.

When kiting takes place, the financial institution stands at risk.  If a kite goes undetected, the account holder may have numerous financial institutions involved.  When the kite stops "working," usually the last institution involved experiences a loss.

Here are steps to determine kiting and minimize risk in the interim:

1.   Alert management.

2.   Place special instructions on the account to alert other tellers.

3.   Contact the other institution(s) involved to confirm the funds are available.

4.   Never accuse or confront the account holder.

Financial institutions lose millions of dollars annually as a result of kiting schemes.  The strongest combination for deterring or stopping kiting is observant, alert tellers and the aid of the computer list of all items presented for payment that are drawn against uncollected funds.

The institution would be well-advised to have a kite-watch procedure where all "not on us" items of an established amount (i. e., $1,000 or more) are placed in a review bin so a designated deposit review person gives these items a second look.  Centralizing the effort allows a few "specialists" to become very familiar with depositors moving money from one institution to another, amounts, frequency, etc.  Also, this approach allows tellers to work efficiently and reduces the need to slow transactions down delaying the account holder at the window, as well as others in line.

Just as the first bank to identify a kiting scheme is usually the one to minimize their losses, alert tellers and close scrutiny of possible kiting transactions can effectively insulate your bank from crippling losses.

Still learning,

Honey

Choices that Can Stink Up Your Work Reputation

Building a good reputation is important.  Maintaining it will depend on your choices.  Your happiness, success, self-confidence and quality of life increases when you have a good reputation.  Like a degree from a university or badge from the Boy Scouts a reputation, be it good, bad, or questionable is earned.  Make a pact with yourself to earn an enviable one.

There are choices and circumstances that stink up your reputation on the job; a few can sink it.  

Be Careless with Social Networking.

On the job your online "track record" is a powerful ingredient in your overall reputation.  Never forget that content posted and made available to the public can easily be in the hands of those you work with and for.   Questionable photos include any photos that make you or others look bad.  While you may feel confident that only people you want to see it have exclusive access, there is no guarantee others can’t find a way to view them.  

Operate under the assumption that everything you post – photos and comments – will show up on your bosses desk or you mother-in-law’s mailbox.  What might seem fun or the “in thing” to do could put a bad slant on your reputation.

Talk Badly About Others You Work With

Plan on this.  Everything you tell others (even in confidence) will be repeated.  Before you know it your comments are made public.  In other words, what you say, can and will be repeated.  Hurt feelings, betrayal, and bridge burning are all possible outcomes when you talk badly about others.

Choose wisely who you vent to or blow off steam with.  It is human nature to need to do that.  If you want to manage the stress associated with work or talk about those you work with in an unfavorable light, talk to someone not on the payroll.

Listening to others you work with do a number on the character of other co-workers could backfire on your reputation.  Tell others you don’t want the burden of confidentiality and that they should assume you will share what they tell you. It will encourage their discretion and they will go searching for a new ear to bend!

Tattle Tale

If you can't get along with someone or don't like someone, don't bring all they do that you don't like to your supervisor.   Nothing will tarnish a person’s reputation more than being viewed as tattle tale.  Talking behind people's back is a coward's way to send a message.  If you need to work out something with someone go direct to them.  Someone once said “if you can’t say it to the person you are speaking of, you would be better off to not speak about it”.

Leapfrog

Jumping over your boss and cutting around them, if you are connected to your supervisor's manager, will find your reputation in jeopardy.  You might even be viewed as a political threat to everyone you work with.   Don't take steps that could undermine your boss.  Respect the chain of command.  Disrespectfulness is long remembered and not easily forgiven.

Keep the shine on your reputation and don’t engage in choices that can tarnish it.

Still learning,

Honey