Sustainable strategy for change and results

The rapid development within the banking and finance sector led the board and executive team to define new long-term goals and four strategies to clarify how the bank would achieve them. However, executing these strategies would require change—and change is hard.

In addition to the results of our goal management efforts, it was fascinating to see that even those not working directly with results—such as support or second-line functions—could feel the impact and engagement. This has contributed to a more dynamic discussion across the organization.

Patrik Meijer, CEO
Sparbanken Skaraborg

Case:
Sparbanken Skaraborg

We followed up with Patrik Meijer, CEO of Sparbanken Skaraborg, who shared his own experience of working with us. Discover their challenge, the results, and Patrik’s advice for anyone looking to get started with goal management and follow-up.

The Challenge

Change

Sparbanken Skaraborg is one of Sweden’s 57 independent savings banks. With 120 employees across four local offices, the bank plays a central role in its region and actively works to support local development. Rapid changes within the banking and finance sector led the board and executive team to develop new long-term goals and four strategies to clarify how the bank would achieve them. However, executing these strategies would require change—and change is never easy.

The bank’s leadership described the situation as: “We need to redirect the cannon for the entire organization, while still delivering to our customers and meeting external regulatory demands in the here and now.”
The key question that led Sparbanken Skaraborg to see the need for goal management was:
“How do we anchor our four strategies in a way that engages all employees and drives sustainable results—both now and in the long term?”
The Solution

To successfully drive long-term change while still delivering results in the here and now, Sparbanken Skaraborg has implemented a goal management model based on two key components: Steering and Monitoring.

Steering focuses on the areas where the bank sees a strong need to develop and drive progress.

Monitoring covers the areas the bank needs to keep track of to ensure a long-term, sustainable, and balanced development.

Both the steering and monitoring efforts are grounded in the bank’s four strategies as well as the external requirements the organization must comply with.

The process of setting the following year’s goals begins with the executive team defining an overarching Steering and Monitoring framework for the entire bank. This involves identifying and prioritizing the strategic areas that are most critical to advance in the coming business year.

Once that is in place, the Business Units—meaning the Private and Corporate Banking departments—take over to define their most important contributions to the overall direction. After that, it’s the support functions’ turn—such as Marketing, HR, and Credit—to clarify how they can support the Business Units in reaching their goals.

Through this structure, Sparbanken Skaraborg ensures that the entire organization is aligned and working toward the same objectives. The model creates a clear link between strategy and employees’ daily work, strengthening the organization’s ability to both deliver results today and build for the future.

The Solution

A clear link between strategy and everyday work

The Results

Concrete numbers and real engagement

In the bank’s Steering approach, they’ve chosen to separate the desired outcomes from the specific actions required to achieve them. Nearly all the focus areas selected by the bank have delivered results. They’ve seen significant progress both in financial metrics and in employee behaviors. Here are just a few examples:

Increased number of customer meetings
– Growth in the bank’s lending
– Growth in the bank’s deposits
– Increased business volume (excluding stock market effects)

In addition to these tangible, “hard” results, goal management has also led to higher employee engagement and a stronger understanding of the bank’s strategies.