A Month In A Bank

A MONTH IN A BANK – A CASE STUDY By ; Dr. T.K. Jain AFTERSCHOOOL Centre For Social Entrepreneurship www.afterschoool.tk www.afterschool.tk I completed my MBA and joined as a trainee in a bank. The bank asked me to report to the training centre, where they told me all about various types of bank accounts, how to open accounts, how to handle clearing etc. A few of the lectures were on motivation, leadership and team building – as the bank expected us to be good team workers. Frankly speaking – it was all boring – actually we were all waiting for our posting and anxious to take practical work. We were very excited about our job and wanted to join the work as soon as possible. The training programme helped us to brush up our knowledge of banking, finance and economic environment. Since were already very excited about jobthe training programme didn’t offer us much. The first day: I got posting in one of the main branches of my bank. It was a very crowded bank. My branch manager greeted me well and introduced me to all the members of his staff. I felt that the bank was very cool. I felt that everyone was very friendly. People were busy – but willing to spare time for me. Whenever I approached someone- he helped me. I was asked to look after account opening. I was not aware about much work, so it was difficult. I now realized that I didn’t pay much attention to the training programme and so I missed a lot I was not able to remember basic nomenclature regarding bank accounts – which were told to us. The branch manager asked me to look after account opening and told me that I had target to open 100 new accounts in the first month. I didn’t know what to do. I asked one of the executive- as to what to do. He gave a long account of his achievements and suggested me to go from office to office to open the accounts (as he used to do it earlier). I was asked to prepare a plan and submit the plan to the branch manager regarding my work. During lunch break – I was asked by some of the staff members to share lunch with them. I didn’t bring my tiffin – so I was a bit reluctant – but they insisted and I had to join them. I found them very supportive. Although I was a little bit shy and hesitant, they were warm and candid with me. They told me that I was in a wrong job. One person told me that opening 100 accounts is not very easy task. Another person suggested me to get transferred to pure operations – so that I didn’t have any burden. One person told me about the dark side of the branch manager. While I was having an impression that the branch manager is very soft and supportive person – the people told me that the branch manager was a ruthless guy – too strict to handle. They further told me to be very careful in all my operations – as branch manager doesn’t tolerate any mistakes. They questioned my decision to join their bank – because they thought that banking is not the right field for me. One person told me that the growth in banking is very slow and suggested me to try for consultancy field – which offers high growth, more freedom, more potential for development. By the end of the day, all my excitement regarding new job was over. I realized that opening accounts was not very easy task. I had talked with a

few customers – and all were very pessimistic – none helped me in securing any accounts. The second day was a nightmare. My branch manager had asked me regarding my plan – he didn’t do any editing and asked me to proceed. As per my plan I was to contact 500 persons for opening account – through telephone – and I expected that I would be able to get 100 accounts from them. I thought that I was very good in communication skills and very good in convincing others and would be able to fetch accounts very easily. As I started – it proved to be a bad beginning and bad day. People of that city were probably bombarded by telephone calls – and so I was greeted with abuses and shouts – so I had no option to abandon my work. My branch manager was very busy and didn’t get time to talk to me. I spent rest of day murmuring about what to do. I tried to go to nearby locality to encourage people to open accounts – but the result was disastrous. I had sleepless nights. For the first time I was about to face failures. I didn’t know what to do. I approached my mentor and my guide Mr. Ramchandran and told him about the entire matter. Mr. Ramchandran suggested me to request to the branch manager to transfer me to operations. The next day I requested to the branch manager to transfer to operations. The branch manager got furious. After a long speech, he finally agreed to transfer me to operations. I was very pleased. I thought that now I will do miracles. My branch manager put me in cash section. Throughout my life, I never handled any responsibility including cash. I always wanted to enjoy life. My teacher used to tell – ‘life is not a bed of roses – work hard and be prepared for challenges of life ‘ – but I never understood these words till I realized how difficult it is to work on the job. As I started handling cash – misfortunes started. By lunch time, I had a difference of Rs 5000/-. I didn’t know about what I had done. My colleagues suggested me to leave cash – as it was not my cup of tea. They advised me to switch over to other sections. One even told me that earlier on person had a difference of 1.5 lakh and he had to deposit this amount from his own pocket. He told me that during peak time, it is very difficult to handle cash. I was horrified. I though of quitting. I didn’t know how to handle the matter. I was cursing my job and my life – why did I join bank – I should have joined some other sector. Soon my branch manager came to know about the difference in my balance – and fired me. He asked me to take charge of clearing and leave the cash counter. Two senior executives started tallying the cash and the accounts and tried to settle the difference. I got a sigh of relief. I was not in clearing. But the work here was even more difficult. I realized that my training was inadequate. All of sudden my old friends came to see me. In an excitement, I took them to a nearby restaurant and had a cup of tea with them. As they departed I returned back to my work. My branch manager called me. He rebuked me for leaving my table open with all the papers and leaving my computer online without any custody. He retorted me for my folly. I realized my mistake. He told me that I was not fit for a responsible position and therefore I should work in area – which doesn’t involve much responsibility. I was asked to look after correspondence. I was to prepare answers to the letters that had arrived. I took the letters and wrote their replies. I thought my communication skill was excellent, so this work was easiest for me. As I was about to take the replies - one colleague came to know about my work. He made a mockery of my letters and asked me to redraft the letters. I took his suggestions and redrafted the letters.

He was right – as I with those letters I would have got a big firing from my boss. I took the letters to the boss for approval. My boss corrected all the letters and there were at least 3 mistakes in each of the letters that I wrote. I was declared unfit for this work also. Sitting in the room of the boss, I was feeling most uncomfortable. Can I return back to the old college days? Let me start my college afresh - so that I really become an expert in something. Next day I was put in ATM section – and this was all the more difficult. I thought my mathematics was very good and I had good analytical ability – but these were false notions. I had real difficulty in understanding the financial intricacies of the matters. To cut the matter short, I realized that I was not able to understand many things – which other persons considered to be very simple. Now I had plenty of time. My work required me to work only for a few hours. I started gossiping with other executives in my spare time. I started helping others in their work. I though that by helping my colleagues, I was contributing to the team work of the bank. I though I was a good team worker. But for my surprise, my boss called me up and told me to mind my own business – he was very clear in his wordings – “you will be evaluated on the basis of what you have done in your work – and not for what you have done for others – therefore concentrate on your own work.” I decided to change my strategy. I again called up my mentor and guide – to know about what should I do. He suggested me to take up courses that could give me rise in the present field. I decided to take up distance learning courses in specialized sectors of banking so that I could take up more responsible and interesting portfolios. I thought of taking up streams like foreign exchange etc. Next day, there was all chaos in the bank. All the executives had got their incentives. I came to know that there were promotions and bonus payments for bank executives. Some had got bonus as high as Rs. 1.5 lakh, but some had got nothing. The reason was looking clear to me. The persons, who were also doing extensive selling besides operations, got best rewards. The persons who were achieving their targets for opening new accounts, and for selling various schemes – got the highest bonus. This made me thing differently. I was now planning to change my strategy again. I decided to give a challenge to myself. How can I open more accounts. How can I sell more schemes? Nobody was to help me. I prayed to the god to help me – so that I could finally get some identity for myself. The nostalgia of college – was hovering over me. When I could be the first rank holder in the college in spite of all odds, why can’t I be the winner again here in my new responsibility? Meanwhile, my boss gave me additional responsibility of handling high priority customers. Since, there was a shortage of manpower; I was given lot of work. I thought of a plan – now I had to do something - which could impress my boss. As I was browsing through high priority customers accounts, I found that all of them had balance in excess of Rs. 200000. I thought of a plan. One of my targets was to sell at least 20 mutual fund policies in a month. I had not sold even one policy by now – and I didn’t see anyone selling even one policy by now. Most people used to tell me that these targets are impossible to achieve and so don’t bother about these. A few people achieve these targets – they are genius – have some exceptional contacts – not like ordinary persons. But now I

had different plans. There were 38 high priority customers. I contacted all of them through telephone and requested them to give me a chance to tell them about a very beautiful investment opportunity – which could give high returns at low risk – and which was by our own bank. 20 of them approved my request and gave me an appointment. My boss was hesitant to allow me to go to meet the customers – because he was not sure about my representation skill. During two years of MBA, I used to give presentations almost daily in my class – and had developed a knack in presentations and was considered the best person in query handling. I had always received highest grading for best presentations in my b-school. I got the benefit of this now. I gave really wonderful presentations to all the 20 persons – and for my surprise - all of them agreed to invest money in my schemes. This was the first booster to the disheartened person like .me. Situation was worsening at the branch. I had to attend marriage of one of my very close friends. My boss had strictly refused any holiday. I was also adamant. I had taken French leave to attend the marriage – after all you can’t miss marriage of your best friend. I returned back with a medical leave letter. My boss understood the matter and gave me a tough task. Now he gave me strict warning and told me that I would be suspended if I dint achieve my targets. I was asked to open 50 accounts in ten days – for most people this was an impossible assignment – as how to get those persons who would maintain minimum balance of Rs. 10000 and open a savings account in my bank. God helps those – who help themselves. I had a firm belief in god and used to pray to the god to give me inner strength. I used to get firing from my boss daily – yet I used to have optimism that I would surpass their targets. Nine days passed – I had no new accounts – in spite of contacting over 100 persons daily. I was not prepared to give up. I told my boss – I shall achieve my targets – just wait. It was the last day – my boss was firing at its worst – and declared me that I was not fit. He told me that be prepared to search out a new job. I was not sure what to do. I went to search out prospective customers in army areas. One person told me that a new battalion has just arrived. I got very excited. I immediately rushed to meet the brigadier of this unit. I gave a presentation on my bank and my working. I told them of full cooperation. For my surprise – the brigadier agreed to open accounts of all his staff. I had a bonanza – altogether 1000 new accounts were to be opened. I returned to the branch. The branch manager was ready with his fire. I listened him coolly and when my turn came - I told that I had 1000 new accounts it was not believable for the manager also. He finally told me that you are a genius. He agreed that MBA are certainly best persons to work with. As the days passed, I got more and more responsibilities. I was now able to achieve all my targets. I understood how to identify potential customers and how to present them our business proposal. I understood that customer’s requirements are more important and I had to make presentations exactly as per the requirements of the customers. By next week, I was declared as the best promising employee. My regional manager visited the branch to supervise and my boss introduced me as the most promising employee of the bank. I was taken aback when my regional manager asked me to spare time for a dinner. He had a long talk with me. Next week there was letter in the branch in my name. I was sponsored by the bank to proceed to specialized training in CRM at IIM Kolkatta. I had not even completed one month – and my life had seed ups and downs – which I couldn’t anticipate.

Case analysis work: ciritically evaluate the role of the writer here as an employee. What are the lessons that you can draw from the case?