In a bold reinterpretation of corporate metrics, First United Bank has introduced ‘Key Purpose Indicators’, a play on the traditional Key Performance Indicators (KPIs). This program takes an innovative look at what gets measured.
At the heart of First United Bank’s innovative approach to corporate culture stands Chief Culture and Communications Officer Melissa Perrin. Four essential elements serve as the center of this transformative strategy:
- Financial Wellbeing
- Personal Growth
The bank gathered data on all four of these pillars from their clients, staff and community partners and called it the ‘Spend Life Wisely Index.’ They are demonstrating a more inclusive definition of success, one that places equal weight on the general well-being of its clients, staff, and the community as it does on its financial stability.
The poll, which involved a broad spectrum of stakeholders, revealed significant relationships among the four pillars. It demonstrates the interdependence of these facets of life by showing that people who are flourishing in their personal development, faith, and health also frequently have higher levels of financial well-being.
The ‘Spend Life Wisely Ambassadors’ play a vital role in bringing this new culture to life. As the bank’s ambassadors, they actively participate in community outreach and education in these four crucial areas, serving as more than just delegates. Their work embodies the bank’s commitment to overall welfare and extends beyond traditional banking duties.
Ensuring a balanced focus on financial wellbeing, health, personal growth, and faith is central to First United Bank’s strategy. This approach demonstrates a deep understanding of the diverse needs of their stakeholders and the importance of addressing each aspect with equal vigor and resources.
Interestingly, their greatest challenge was a degree of skepticism among customers and community members when they first started gathering the data. Convincing them that a bank could genuinely care about their health and faith, alongside their finances, was challenging. However, as the bank’s sincere dedication to these values became evident, skepticism turned into trust and engagement.
I love this example of a corporation doing things differently. First United Bank is leading a cultural revolution in the corporate world. Remember, what gets measured gets done and this bank is measuring not only financial wellbeing but health, personal growth, and faith as well. It is redefining the role a financial institution can play in the lives of its stakeholders, setting a new precedent for corporate culture.
Elsewhere In Culture
Check out my recent segment on The Today Show, where we discussed the changing landscape of the workplace post-pandemic. The conversation centered on a pressing question: should employees return to the office full-time, or has the work-from-home trend become a new standard? I shared insights on how companies are now prioritizing the retention of their top talent. I pointed out, “Their biggest fear is losing good workers, not getting them into the office. As it should be because good workers are the key to driving financial results for your organization.” This discussion really highlighted the emerging trends in workplace flexibility and the growing emphasis on employee well-being in today’s corporate environment.
The podcast is now live! I’m thrilled to share the launch of my new video podcast, “Culture Leaders.”
In recent months, I’ve had the privilege of engaging in some incredibly impactful conversations with amazing leaders from various organizations and movements. These include Jesper Brodin from IKEA, Miki Agrawal from TUSHY, Kelly Ann Doherty from Mr. Cooper Group, Darren Darnborough from WeAudition, Ryan Leak, and more.
Make sure to subscribe on my website to stay updated with all the episodes we release. You can subscribe at jessicakriegel.com!
And if you enjoy the podcast, please take a moment to leave a review. Your feedback is invaluable and helps us continue to create content that resonates with you. Thank you for your support!