Friday, April 19, 2024

FNBB undergoes restructuring exercise

First National Bank of Botswana (FNBB) has confirmed that it is undergoing a process of restructuring in a bid to be at the cutting edge of global best practice.
FNBB Director Marketing and Communications Bomolemo Selaledi revealed that the bank has been restructuring in small incremental steps over the past four years.
She added that the objective is moving away from a product centric model to a segmentation model that puts the customer at the centre of all the bank’s activities.
“The current restructure is simply bringing this process to its conclusion,” she said.
Selaledi pointed out that what is important to note is the value that the Segmentation Model brings to the clients. \
She explained that the model seeks to segment the business according to customer type adding that it allows the business to focus on specific customer needs and lifestyle.
Also Selaledi is of the view that the process cuts across all customer facing areas, bank-wide adding that the ‘segmentation model aligns the business into four segments.
“The Directors of these segments are 100 percent responsible for the business from end to end. The final step in the process is to align staff and the balance sheet into the segments.”
Asked if the process will result in job losses of employees being retrenched she said, “the intention is not to have any staff losing their jobs as we restructure. In instances that result in a surplus of staff or resources in any one area, team members are consulted and redeployed. The objective is to align staff with the requisite skill set to the appropriate segment.”
Selaledi also pointed out that FNB Botswana believe very much in having regular conversations with all members of our various teams. \
She emphasised that the move towards the Segmentation Model has been communicated widely and regularly to staff across the organization. She said the conversations have taken the form of formal management briefings to internal print and emails.
“As has been stated this has been a process that has been ongoing for four years now and we are confident that team members have been well aware of the progress of the restructuring,” she stated.
She revealed that the process is almost complete, as it has been ongoing for a while as part of a deliberate plan to move the bank from a Product Centric provider to a Segment service provider.
“This entire exercise is very much about ensuring that our business is on the right footing to answer the question ‘How can we help you?’ This new model will ensure that we have the best skill sets and solutions within easy reach for our clients,” she said.


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