Front Line Employees: The Compliance and Customer Service Balancing ActBanker Resource
December 4, 2012 — 1,550 views
Front Line Employees: The Compliance and Customer Service Balancing Act
Working in the banking industry can be a challenge. This is especially true for those front line employees that have to balance between making the customers feel welcome and happy and adhering to the many regulations and rules that are present in the banking industry. It is vital to the success of the bank that the customers are happy but making them happy cannot override being compliant.
There are certain things that a front line employee can do to maintain the necessary balance between customer service and being compliant. While these things may come natural to some people, many people do have to work on these skills before they are effective but it is a skill set that is entirely possible for most people.
The first thing that an employee should learn about front line compliance is that ensuring that they are compliant is a crucial part of what they are doing. The rules and regulations that are in place in the banking industry are there for the protection of the company and the customers. Most customers will understand that but there will be some that will test the employee’s ability to remain compliant.
Many upset customers can be calmed very quickly by explaining why the front line compliance rules are in place. Once they understand that the goal is to protect them as customers, this will diffuse the situation. Sometimes letting them express their concerns is enough. They want to feel as if they are being heard and by letting them speak the front line employee is allowing them to feel heard.
Another tip for providing great customer service while adhering to the compliance rules involves practicing empathy with the customers. If they are upset or confused about something that is going on with their account, you can allow them to express their concerns without agreeing with them. Using phrases like “I understand how this can be upsetting” or “I do see how this could seem confusing to you”.
When your front line employee is trained to provide amazing service to the customers while keeping a clean compliance line and not crossing it you have the makings for a happy customer base. Your employees can feel strong when conflict becomes a part of their jobs and they can feel confident in how they handle the situations. They will be there to protect the business and keep the customers happy each time they come in to speak with them.
It is vital to the success of the bank that the customers are happy, but making them happy cannot override being compliant. This article provides an insight into the Customer Service Balancing Act and tips for front line employees to be successful.