Industry:  Financial Services  >  Mortgage Division of First National Bank

• The mortgage division of First National Bank.
• 1,300 employees attended the program.

• The mortgage division was experiencing a massive decrease in profitability, as a result of increased competition and reduced margins.
• They were faced with the challenge of having to downsize from 1,300 to 500 employees country wide over 10 months, to reduce overheads, while simultaneously increasing business activity.
• Within the repossession division, they had identified a major business problem to be that reclaimed homes were being held by the bank for too long a period before reselling them, resulting in lost interest earnings, a deterioration of the property and therefore lower realized sale value.
• Given this major reduction in staff, employees were being asked to function under extreme conditions of adversity and stress.
• First National Bank made the decision to take all 1,300 employees through Team Business to identify solutions and ensure full staff commitment to these solutions.

• To identify the road blocks in First National Bank's property resale processes.
• To break down the strong dysfunctional silos which existed in the organization.
• To help employees see why these business changes were essential to survival.
• To help the employees cope in the stressful situation.

First National Bank personnel were trained as facilitators to implement Team Business.

• Team Business uncovered the roadblocks and why they were happening.
• Through the program, participants were able to provide solutions that could be implemented immediately. The property resale department improved their processes and as a result, the average property turnover time frame went from 90 to 10 days.
• The climate became one of acceptance that change was inevitable for the mortgage division.
• Consequently, the bank experienced an increase in revenues and a significant decrease in costs.