Now that we’ve identified some of the main challenges financial institutions face, let’s start analyzing the ways a financial intranet can help solve them. In part 2 of this blog series, we’ll look at how a financial intranet can help overcome challenges related to community and culture—i.e., the more “emotional” benefits of an intranet, which are equally as important as the technical benefits.
A financial intranet’s role in credit union culture
A financial intranet can have a significant impact on the culture of a financial organization. Firstly, it provides a centralized platform for communication and information sharing, which can foster collaboration and knowledge sharing among employees. This can lead to improved productivity, increased efficiency, and a better understanding of the bank or credit union’s mission and values.
Additionally, an intranet can help to break down silos and encourage cross-functional teamwork, leading to a more cohesive and unified organization. Furthermore, it promotes transparency and accountability by giving employees access to essential data and documents, fostering a culture of trust and openness. By promoting a positive and supportive work environment, an intranet can also contribute to employee engagement and job satisfaction, making it a valuable tool for creating a strong and thriving credit union or bank culture.
A financial intranet’s role in employee onboarding
Onboarding is one of the most critical “moments that matter” in employee experience. Research from the Brandon Hall Group has suggested that robust employee onboarding can improve retention by as much as 82%.
Onboarding can be an overwhelming experience for a new starter. There are many processes to complete and also things to learn; for example, in a financial institution, there may be compliance-related training that needs to take place. An intranet is a great tool to train and onboard new hires, making life easier for your HR team and related support functions like IT, as well as the new starter, and making every new person feel more welcome.
A new hire area of your intranet can provide all the necessary resources, checklists, welcome messages, and more for your new starters. It can also link to other information on your intranet that gives the low down on how things are done at your bank or credit union.
A financial intranet’s role in driving a sense of community
An intranet is a great channel to help employees feel a stronger connection to their organization and foster a heightened sense of community. Here various social and communication tools can be used. Senior leaders can provide more authentic and relatable blogs to discuss your organization’s mission and purpose. Employees can give thanks to their colleagues and praise for doing great work, fueling highly valued peer-to-peer recognition.
News stories can share success stories from all parts of your organization or celebrate staff who have reached tenure milestones. Intranet Connections’ software even includes an app to celebrate employee birthdays! Collectively, these intranet features can make a difference in driving a sense of connection. It’s also easy to create community or fundraising sites on your employee intranet to encourage employee involvement in local causes or charities.
Using your community site, employees can actively participate by hosting and promoting fundraising events for your organization. It’s also easy to add registration pages, donation links, upcoming events, and more. You can update your intranet home page about how much money is being raised or provide inspiring stories about how volunteers are making a difference. This helps employees feel proud of the organization they are working for.
But wait… that’s not all!
In this part of the blog series, we explored the role financial intranets can play in your financial organization’s culture, community, and employee experience. However, stay tuned for part 3—where we’ll implore how a financial intranet can streamline workflows, create efficiencies, enhance compliance, and provide a better overall customer/member experience.
Don’t have the patience to wait until next week’s blog? Get access to everything you need to know about financial intranets and more in our free eBook!