This session will dive into organizational “purpose” and how this powers the potential of both customers and employees.
Many companies today are making big investments in digital transformation, but not every company is also making the necessary investments in their team members to help them learn and grow as the industry changes. In a purpose-driven organization, a company reviews existing skill-sets, identifying opportunities to re-skill/up-skill their team members and make advancements. A growth mindset also is a crucial factor to long term, overall success. The core idea of the growth mindset is that people are not perfect and can learn from mistakes. By instilling the understanding that agile teams adopt a growth mindset and embrace new tools, employees will keep learning and adapting, reflecting the broad scale innovation ongoing in their industry, in their customer relationships.
With the level of disruption and change in modern society, everyone experiences a degree of discomfort and uncertainty. However, committing to purpose helps increase employee engagement and teamwork, enhances customer service, and drives both customer retention and new business. This empowers colleagues to become relationship-based bankers that are eager to dig deeper and better understand their clients’ goals and dreams.
After this session, you'll know:
The impact of purpose as a mechanism in the transition to support your workforce as they adapt to technology and develop new skills.
Creating personalized experiences that reflect customer goals and simultaneously investing in skill development for front-line team members who have the power to drive loyalty and enhance the customer experience
The role of growth mindset in providing a framework for making investments in the development of team members especially during a period of immense disruption
Timothy A. Welsh is Vice Chair, Consumer and Business Banking, of U.S. Bancorp (U.S. Bank). In this role, he oversees the company’s largest grouping of business lines, covering a wide array of services and products that help U.S. Bank become central to the financial lives of our consumer and small business customers, including branches and business banking along with a variety of consumer lending and servicing operations, such as mortgage, auto lending and dealer services. Mr. Welsh has served in his position since March 2019. Prior to that, he served as Vice Chair, Consumer Banking Sales and Support since joining the bank in July 2017. From July 2006 until June 2017, he served as a Senior Partner at McKinsey & Company where he specialized in financial services and the consumer experience. Previously, Mr. Welsh served as a Partner at McKinsey from 1999 to 2006.
Mr. Welsh earned an MBA in Business Administration from Harvard Business School, and a BA in Social Studies from Harvard University. He is a co-founder of the Itasca Project, an initiative of business, government, and not-for-profit leaders who work to improve the quality of life in Minneapolis and St. Paul. He is a board member at several non-profits, including GHR Foundation, Greater MSP, Minnesota Orchestra, Operation HOPE, and Greater Twin Cities United Way. He is also a board member of Allina Health, a nonprofit healthcare system, and UPSIDE Foods, a start-up.