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- Training pilot on PA
- MAP

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Austria: Client conferences to give us direct feedback

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Hungary: in advisory hiring process cultural aspects have built in started last year

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Austria: Client Feedback Part of the incentive scheme 

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Austria: Client Feedback Part of the incentive scheme 

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Hungary: tablet-based advisory by Q4 for regular savings, investment and insurance - culturally is a big change since customer needs will be captured better and offers will be targeted smartly

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Serbia: Corporate culture change initiative 

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Serbia: Corporate culture change initiative 

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Croatia: 1. Corporate culture platform Blue Elephant platform 2. Financial literacy - Smart finance School 

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Croatia: 1. Corporate culture platform Blue Elephant platform 2. Financial literacy - Smart finance School 

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"Complete list of client financial needs"

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"Complete list of client financial needs"

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SLSP: To explicitelly keep in mind all the areas of clients needs that should/could be addressed.

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There is no sell a little bit - we talking about 1.000 of advisers - what will be the message?

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we will have to prove that this is serious to us - also with other projects (apps, ...)

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we will have to prove that this is serious to us - also with other projects (apps, ...)

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How we hire - empathy should matter more than competence; support competence with tools
How we coach - Branch Managers should guide advisors under PA principles
How we steer - current reporting is focused on product sales and qualitative aspects reach HO with difficulty,
How we develop apps - should support customers making independent and confident choices about their well being

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Still hard to explain to ordinary advisors what PA means

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Still hard to explain to ordinary advisors what PA means

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cultural change might be the most difficult one

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cultural change might be the most difficult one

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Should start with the Management Board; It will be very dificult as every discussion with CFO ends up with how many loans can you sell or how much cost can you cut?
Why not CFO to participate on PA brainstorming sessions ...

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Less people in the branches less time for clients - expected (profit) growth every year? 

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Less people in the branches less time for clients - expected (profit) growth every year? 

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Luca: we are doing the minimum to adhere to the EBA regulations arguing that many clients needs (e.g. saving and lending) are no substitutes. But is it really true from client perspective?:)

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Luca: we are doing the minimum to adhere to the EBA regulations arguing that many clients needs (e.g. saving and lending) are no substitutes. But is it really true from client perspective?:)

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How can we prove the positive longterm impact of PA to our team

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How can we prove the positive longterm impact of PA to our team

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Incentive should be of best performing client portfolios in term of revenues adjusted with financial health score, for best NPS results or for best improvements in financial health of their portfolio
Remunaration overall needs to be considered, not only incentive.

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from a long term perspective we will be more successful (also financially) if we act in the interest of the customer. we cannot allow ourselves to send diverging signals to our people!

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from a long term perspective we will be more successful (also financially) if we act in the interest of the customer. we cannot allow ourselves to send diverging signals to our people!

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do we still need to look at renumeration (base pay / share of variable pay) or does this already work from our perspective ?

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do we still need to look at renumeration (base pay / share of variable pay) or does this already work from our perspective ?

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If we want investors to appreciate PA culture it has to imply profit add-on an not minus.

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How can we ensure that all of the local board members promote PA (are they already convinced ?)

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How can we ensure that all of the local board members promote PA (are they already convinced ?)

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Luca: maybe we need a measurement which allows us to steer clients FH even more directly then e.g. NPS does

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Luca: maybe we need a measurement which allows us to steer clients FH even more directly then e.g. NPS does

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Creating local team of people responsible for both DELIVERY  and PROMOTION of PA values

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Creating local team of people responsible for both DELIVERY  and PROMOTION of PA values

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Luca: Defining the rules of PA / FH will make it concrete

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Luca: Defining the rules of PA / FH will make it concrete

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full support of team goals for branches and shift of variable to fix to allow a decent life

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full support of team goals for branches and shift of variable to fix to allow a decent life

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Offering right advice/product/service should minimize negative P/L impact and increase CX

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Offering right advice/product/service should minimize negative P/L impact and increase CX

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why do we believe that this is a contradiction?

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why do we believe that this is a contradiction?

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Employees' skill to manage their own finance

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Incentive schemes should include PA goals

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Incentive schemes should include PA goals

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Financially Well Secured Client has many needs to be fullfilled by our products/services

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Financially Well Secured Client has many needs to be fullfilled by our products/services

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- there are multiple client needs (at least X areas:
--- create reserve,
--- save for your dreams,
--- at least protect your savings againts inflation or even make them work
--- protect yourself against many unexpected events in your life (given your family, jpoob, instalmenst, house, household, liability, car, etc)
--- get zour housing
--- live your dreams before you save for them
--- prepare for your retirement,
--- many needs related to transactions
--- etc...

currently most of our clients has just 1-3 needs satified/provided by us...
...lots of space to go...lots of opportunity to help our clients...

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Belief that clients wont share their financial needs with us

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are we sending the right signals as heads of retail?

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are we sending the right signals as heads of retail?

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We are in a change period caused by Covid19 crisys.. This generate by itself changes in the way we sell our product .Not necessary " sell less loans" , but sell loans to customers having in mind their best interest.

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We are in a change period caused by Covid19 crisys.. This generate by itself changes in the way we sell our product .Not necessary " sell less loans" , but sell loans to customers having in mind their best interest.

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- > so challenging due to the fact that bugets are built product centric

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Complying with EBA guidelines and Erste HR policy we went beyond the benchmarks. Do we have to go further? Haven't we achieved the pull-sales supporting incentive schemes?