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Data & Analytics, Business Strategy, Change Management, Risk Management, Business Reporting Optimization

1 minute read

Getting Employees on Board with Effective Data Management

Mar 14, 2022

Written by: Stephanie Lennon

We can pretty much agree that information drives business today, and using it strategically raises revenue exponentially.

But without the proper guardrails on data, you run losing that competitive edge – and so much more. With the significant investment you’ve put into that precious business resource, you need to give equal weight to nurturing a culture that recognizes your people’s responsibilities in protecting, maintaining, using and, ultimately and safely, destroying that data.

This can be a big challenge for most organizations, but we shared some front-line insights on how to develop and build that data management culture during a recent webinar sponsored by Spinnaker Consulting Group.

Joining me on the panel were Donna Highfill, change management warrior and author of Real People, Real Change, and my Spinnaker colleague, Cara Williams, principal and practice lead for Risk Management and Regulatory Compliance. Shelly Loftin, senior vice president for Retail Banking, Payments and Lending at the American Bankers Association, moderated this great discussion.

Why data management needs to be addressed

First and foremost, as we mentioned, good information is leveraged every day in the banking industry from our vision for new and improved products and services to our decisions on which applicants we approve or deny. Other reasons include:

  • Organizations rely on data to inform their decisions.
  • Poor data management creates risks.
  • Regulators are giving greater attention to how banks manage data, so those risks could translate into financial costs as well.

What you need to know and do

The overarching theme of the session focused on how to get your people to think differently about data in the first place. That mindset that starts from the top. Keep in mind that people aren’t automatically opposed to change. At a simple level, we choose different things to eat and wear each day, but people don’t like change imposed on them.

We then walked through what organizations can do to build alignment, create ownership of the changes and navigate through any pushback or objections you face in the journey. We explained what to monitor to determine if your change management program is working.

Finally, for when you reach the stage where data management is business as usual, we recommended some tactics to launch that will keep you on a steady path going forward. 

Listen now

With greater internal and external pressures on managing your information effectively, this webinar offers can’t-miss insights to get your organization moving in the right direction. Listen now and get started on building the right data management culture for your financial institution.

Watch On-Demand Webinar