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Culture has never been more important in light of the massive changes impacting companies through artificial intelligence and cybersecurity risk. CEOs who don't recognize the importance of IT and fail to commit to managing this function with focused communication throughout the organization will fail. We can't expect board members to become IT experts. However, we can expect them to bring in experts in order to have proper preparation, protection and immediate effective responses to any cyber breaches.
Becoming aware and more fully responsible for cyber is a new addition to every director's role. Employees' actions play a huge role in the safety of the organization. CEOs must ensure that on a regular basis they communicate this role to the workforce, and how it is critical to securing and protecting data and information. Most breaches begin from an internal source, either through a malicious action or through an unintentional one. Continuously connecting employees to the mission of the organization to ensure engagement, as well as to deepen the understanding of how everyone impacts the organization's future soundness, is essential.
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In years past, culture might have been associated with a softer HR focus. Today, board members need to understand the impact culture has on financial risk and outcomes. Boards need ongoing education as to risks associated with cybersecurity and AI. Board members need to question, trust their instincts and not let things go too long if what they see feels wrong. It's not enough to just look at the numbers.
The member experience comes from the quality of service provided by employees. Excellent member experiences result in member stickiness, higher revenue growth and profitability. Creating the ideal member experience depends on your organization's vision, values and organizational culture.
The member experience arises from not only your people, but your technology. Leadership needs to protect members' assets from cyber breaches and ensure that the right investments and strategic planning is being done now to ensure cybersecurity protection. This planning needs to start in the boardroom – board members must receive the right information and education to protect the organization, its employees and its members against cyber risk. Conducting a "cyber readiness diagnostic" will ensure the right steps are being taken to protect against cyber risk.
Good service is the bare minimum. Senior executives within the organization should make sure that employees are anticipating member needs. Routine tasks should be frictionless and human interactions should leave people feeling valued, well-served and like the company has exceeded expectations. A company's vision for the member experience should be one that bonds the relationship and creates an emotional connection – building loyalty, resulting in more business and inspiring members to become apostles for your brand.
Unfortunately, the kind of member-centric mindset that this requires does not exist in most organizations. Studies and surveys reveal that the majority of employees do not have a sound grasp or a robust understanding of the organization's vision for the ideal member experience. They do not see what it looks like, nor how the vision applies to their performance. A business cannot produce exceptional results without its people having a thorough awareness and alignment around this member-centric vision.
Employees can come to understand the member experience vision through their own data gathering and analysis. They should be encouraged to contribute their own ideas on how to improve it. Stories and anecdotes should be collected and shared that tell how member trust was increased and how a great experience was created. Stories illustrate the vision in ways that numbers cannot.
The customer debacle in which over 15,000 flights were cancelled on Southwest Airlines this past December due to weather and an antiquated crew scheduling system is worth studying. Employees were prevented from communicating their availability to company management, therefore not allowing them to solve flight delays and cancellations. Southwest's unions, which included pilots and flight attendants, for years had complained about their outdated systems. Executives failed to make the IT investments required to prevent this meltdown. When leaders ignore important information from those on the frontlines, their organizations suffer and the likelihood of future failures increases.
Leadership must remember that the member experience flows directly from the employee experience. Checking in with your people is as important as checking in with your members. A strong data foundation results from surveys and conversations with your employees. Having the digital tools to access your cyber risks will ensure that proper strategies are implemented for the protection of your members and organization as a whole. Your future depends upon it.
Stuart Levine Stuart R. Levine is Chairman and CEO of Stuart Levine & Associates in West Palm Beach, Fla.
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