PROJECT Parivartan AT SBI
Brought to you by TEAM 2
HISTORY
SBI SNAPSHOT
Need for Change
AMBITIOUS GOALS
• Market leader since independence.
• Turned to merging its siblings since the early 2000s
• Turned to full automation in the late half of the decade.
• Bolstered its marketing and operation through right sizing
• June 2003 marked the commencement of of a BPR in
consultation with McKinsey
Need for Change
PROBLEMS PROBLEMS … HERE THEY COME !
• Losing Ranks• Losing Market Share• Perceived as “Old and Staid”.
Need for Change
SO WHAT WAS WRONG?
• Intense competition in the Banking Industry
• Declining market share in every category.
• Competitors inching closer
• SBI had turned into an elephant. Competitors into leopards.
• Core Banking Solution – not so solvent with the “ole good
folks”
• It has lost its connect with the modern customer.
Need for Change
BUT STILL WHY CHANGE? NO BODY LIKES CHANGE !
Need for Change
JOHN P KOTTER’S
8 STEP CHANGE MODEL
STEP ON THE GAS ! HERE WE GO !
Create a Sense of Urgency
• Need for Transformational and Developmental change … and they need it NOW !
• If Not they will be remembered for ever – but only in History !
• Project Parivartan takes birth in July 2007
Need for Change
WHO’S GONNA TAKE US THROUGH?TOP MANAGEMENT CONCLAVE
PLANNING TEAM
STRATEGY TEAM
COMMUNICATION
TEAM
Need for
Change
Putting together the Team
SO WHAT WERE THE CHANGES TO BE BROUGHT?
• Customer centric approach
• Optimizing the technology the bank used.
• BPR
• Leveraging the financial , material and human capitals the
bank had to grow faster and into new areas.
• Expansion and Leadership Development
• And of course in the process make the competition taste dust
while it tasted profits.Need for Change
Putting together the Team
Objectives and Strategies
Need for Change
Putting together the Team
Objectives and Strategies
PROJECT PARIVARTAN
• Brain child of O P Bhatt.
• First ever of its kind.
• To gain support and acceptance of the change initiatives.
• Aimed at every single employee – from root to tip!
• Objective was to bring a change in the attitude and
approaches of the workforce.
• Objective was to get maximum ‘Buy in’.
• Change within a change.Need for Change
Putting together the Team
Objectives and Strategies
Communicating
the Change
SIZE DOES MATTER !
Need for Change
Putting together the Team
Objectives and Strategies
Communicating
the Change
‘PARIVARTAN’- WHAT WAS SO DIFFERENT TO BRAG ABOUT?
Completely structured.
Multimedia Based.
Interactive.Sensitizing sessions.
Learning session on customer centricity and relationship.
Concluding session calling employees to embrace “relationship banking”.
Up sell and Cross sellNeed for Change
Putting together the Team
Objectives and Strategies
Communicating
the Change
STILL NOT BUYING?
Town hall Meetings.
Association leaders exhorted members to embrace the change.
Blogs for idea and information sharing for the top management.
Emails
NewslettersThe chairman ensured
bureaucracy was kept at bayNeed for Change
Putting together the Team
Objectives and Strategies
Communicating
the Change
SHOW ME THE MONEY ( RESULTS) !
‘Parivartan’ caught the imagination of all
employees. People others have praised it as an eye opener and the best programme
they have attended in their entire career
A perceptible improvement
(20%) in Customer Service and
reorientation of employee attitudes
Number of customer service elements where
85% branch compliance is
achieved increased from 3 to 14
20 % increase in customer
satisfaction
Need for Change
Putting together the Team
Objectives and Strategies
Communicating
the Change
(NOT) A CHINESE WHISPER
Chairman
Assistant General Managers
Managing Directors
Deputy General Managers
Deputy Managing Directors
All Branch Managers
Need for Change
Putting together the Team
Objectives and Strategies
Communicating
the Change
CLASS 101 : HOW TO EMPOWER PEOPLE ?
Empowerment 101
Involve Employees in making visions and missions
Smoothen out CBS before
implementing it further
Employee Suggestions made
more effective and valuable
Encouraging people to
develop Best Practices
More delegation
Need
for Change
Putting
together the Team
Objective
s and Strategie
s
Communicating the Change
Empower
your People
QUICK WINS !
Need for Change
Putting
together the Team
Objectives and
Strategies
Communicating the Chang
e
Empower your
People
Short Term Wins
NAME AND FAME
• STATE BANK OF INDIA Has Been Adjudged The Best Bank 2009 By
Business India (August-2009)
• STATE BANK OF INDIA ranked as NO.1 in the ICMR Survey on
INDIA'S BEST MARKETED BANKS (August-2009)
• Mr. . Bhatt got numerous awards for his leadership and was even
nominated as “ The Indian of the Year” by CNN-IBN in 2007
Need
for Change
Putting
together the Team
Objective
s and Strategie
s
Communicating the Change
Empower
your People
Short
Term
Wins
SUSTAINING THIS GROWTH
Next series of Conclaves planned for the executives in 2010
•Parivartan II to be launched shortly.
•‘Antar Parivartan’for the unions/associations to achieve collaborative
stands from them.
•Corporate Banking and Mid corporate Banking being integrated as ‐
Wholesale Banking.
•Revamping of the International Business operations.
•Increasing the usage of Alternate Channels (Branch banking, Internet
Banking, ATMs, Mobile Banking etc).Nee
d for
Change
Putting
together the Team
Objective
s and Strategie
s
Communicating the Change
Empower
your People
Short
Term
Wins
Consolidate
Gains
BRINGING IN THE NEXT CYCLE
• Next transition from Employee SBI to Citizen SBI.
• Imbibing and incorporating the new behavior and change
culture in the 25,000 new recruits including specialists and
Management Trainees from Day One .
Need
for Change
Putting
together the Team
Objective
s and Strategie
s
Communicating the Change
Empower
your People
Short
Term
Wins
Consolidate
Gains
CHANGE TAKES A COMPLETE TURN OF THE WHEEL
Need
for Change
Putting
together the Team
Objective
s and Strategie
s
Communicating the Change
Empower
your People
Short
Term
Wins
Consolidate
Gains
Sustain and go
forward
LEADERSHIP – THE ENGINE OF THE CHANGE-MOBILE
Five Necessary Leadership Actions for Organizational Change
• Be clear why change is necessary in terms that make sense to the individuals.
• Declare an initial set of standards for measuring performance and get agreement
that people will set out to perform to those standards. Begin a practice of
checking.
• Show how it is done.
• Measure, acknowledge, reward new behavior, and be clear on the consequences.
• Work with them on improving.
THANK YOU
YOU DECIDE
• Which step of Kotter’s model was left out?
• What other model can you suggest to fit this scenario?
• Have other banks changed too? If yes how?
• What is Buy In exactly?
• Has SBI kept any fundamentals intact ?
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