Illustration from Sberbank of Russia’s Development Strategy until 2018
Sberbank appealed to its existing and potential customers to work together to find new solutions to optimize retail offices, overcome long queues, improve the product portfolio, and improve corporate social responsibility policy.
At the same time, the bank has launched two internal crowdsourcing platforms to allow many thousands of the staff to discuss how to make their work more efficient. One of the platforms, Exchange of Ideas, lets employees submit their suggestions to improve [/url]their workplace productivity. Altogether, employees put forward 100,000 ideas, which brought in several billions of roubles in revenue. The second platform, Sberbank Ideas, is a venue for discussion of important issues concerning the bank – from measures to overcome long queues at retail offices to changes in the bank’s internal regulations. This practice proved to be so successful that crowdsourcing-based examination of the bank’s key internal regulations became mandatory in mid 2013. The recently published Sberbank’s Development Strategy until 2018 is no exception – more than 15,000 employees, managers, customers, and shareholders of the bank took part in its development. In this strategy, Sberbank sets itself a very ambitious goal – to lay the foundations that will enable the bank to retain and maximize its success in the new economy – in the rapidly evolving world of technology, increasing competition from new entrants and swift changes in customer preferences.
Sberbank is going to build a mature performance management system including crowdsourcing during the next five years.
Components of a mature performance management system
(Illustration from Sberbank of Russia’s Development Strategy until 2018 )
Sberbank is going to use crowdsourcing on a regular basis to receive regular feedback from customers, based on which decisions will be made to improve client service. Also, the bank wants to use crowdsourcing to get the staff more involved in the generation of ideas on how to improve customer service, as well as let employees participate in the managerial decision-making process.
Sberbank believes that the use of crowdsourcing at all levels of management will help successfully implement the Strategy of Development for 2014-2018: ‘Now we are not only introducing innovations in some particular areas/bank units, but we are also using ‘knowledge cloud’ to solve the vast majority of problems, providing a communication environment for our employees to discuss important things concerning the bank and not only that. ...We are going to develop an infrastructure for distributed intelligence and build communities of experts in all activities of the bank with the purpose of finding new ideas/solutions and sharing experiences on topical issues. We plan to take the functionality of the crowdsourcing platforms to the next level, ensuring their availability to all employees, as well as their ease of use, and build a database of best practices and knowledge to allow all employees of the bank to access the world expertise and best practices.'
It is continuous improvement of banking processes, products and services that will certainly guarantee Sberbank’s sustainable competitive advantage in the near future, believes Sberbank management.