Blogs

Jo Geraghty

Director

Reporting time

Date added: 02nd Aug 2013
Category: Customer Experience

After the last few years bank reporting time is always guaranteed to produce headlines and this half year run is no exception.  At the time of writing we have seen the results from Barclays being virtually ignored as commentators concentrated on the announcement of a £5.8b rights issue whilst Lloyds’ announcement of a significant increase in profit has been seized on by the media as raising the possibility of a return to private hands.

The way in which results are announced and reported on raises interesting challenges for organisational leaders.  Businesses are constrained in the comments which they can make when announcing results as they have to follow international and national reporting guidelines.

But whilst these satisfy the requirements of investors, a business is also responsible to its customers, its employees, its suppliers and the wider world.  In his letter to shareholders the Lloyds Bank Group Chief Executive acknowledged these wider responsibilities and talked about “delivering sustainable benefits for customers, colleagues and shareholders.”

We have previously written about the benefits of engaged employees delivering exceptional customer service which in turn enhances the reputation and investment prospects of a business.  Creating the right balance of values and culture to deliver a satisfactory outcome to all is no easy matter but businesses which get the balance right are setting themselves up for long term success.

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