The Challenge: new ways of doing for a new strategy
Following the Spanish financial crisis, numerous banking institutions, mainly savings banks, underwent a process of concentration and, to a large extent, transformation.
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More InformationAbanca: An open office and culture
The Challenge: new ways of doing for a new strategy
Following the Spanish financial crisis, numerous banking institutions, mainly savings banks, underwent a process of concentration and, to a large extent, transformation. Abanca was born out of this process, following the merger of two savings banks of Galician origin, CaixaGalicia and Caixanova, which became NovaCaixaGalicia. In 2013, NovaCaixaGalicia was put up for auction and acquired by Banesco’s subsidiary in Spain. After an approximately year-long absorption process, the NCG and Banco Etcheverría brands disappeared, creating a new banking brand in Spain.
As part of Abanca’s business strategy, strengthening its presence in Madrid was a key priority. In 2016, the company opened an office in Recoletos 4, a unique building where employees were co-located. This move marked a before and after for the company’s brand image, which needed to reflect its positioning as “an open bank.”
The project required bicg’s expert vision to align spaces, technology and culture around the architectural project, accompanying employees in the process of change and generating enthusiasm for the new strategy.
Pax: 150
M2: 2.000
Sector: Banking
Location: Madrid
Year: 2016
The solution: An adoption process in a test lab
Recoletos was to be a test laboratory for Human Capital in order to establish “The new ways of doing”, so through a process of analysis and co-design with the management team, we established the basis for the model and the ideation of 12 initiatives to be tested during the pilot phase.
"For ABANCA, Recoletos is the test laboratory for Human Capital practices to transform our working model. We pursue an agile, collaborative, flexible, efficient and empathetic way of working that allows us to offer a complete customer service".
Francisco Botas.- Consejero Delegado de Abanca
The implementation of the identified initiatives was carried out in three phases:
- The first phase focused on moving into the new space and adopting key behaviours and guidelines necessary for optimal work in a more open environment, without assigned workstations or paper.
- The second phase prioritised the adoption of new technology and training in applications that enhanced efficiency and work organisation.
- Lastly, time thieves, largely due to cultural factors, were identified, and initiatives were introduced to improve efficiency of professionals. Actions such as “stand up meeting” or “My hours” helped professionals make better use of interactions and focus time.
The keys to success: company experience and a method of implementation
The strategic alignment of the customer experience with the employee experience was key to generating coherence in the bank’s cultural transformation.
The process initiated in Recoletos, combined with a collaborative and proven methodology that involved employees from inside and outside the building through participatory processes and communication, successfully fostered motivation for change and a sense of shared ownership in the project.
Another crucial element was involving leaders in the transformation, gathering direct feedback on how the transformation and initiatives impacted team management. This ensured that the leadership model was aligned with Abanca’s new approach of doing things.
The results: The first step to an aligned company culture
The Recoletos project was a success for Abanca, marking a turning point in the bank’s way of working, and subsequently transferring the lessons learnt from the pilot to other branches across the organization.
"We wanted this building to reflect our project, our way of doing things and our way of engaging with our clients through a simple concept that we believe defines us: open. Open is the space, open is our orientation to the client, to the future, to digitalisation, efficiency, modernisation and specialisation".
Juan Carlos Escotet Rodríguez,- Presidente de Abanca
Here are a some indicators:
- 92% of respondents say they do not want to return to previous ways of working.
- The new technological tools were highlighted, with 87% indicating that they provided them with a lot or quite a lot in terms of agility in their day-to-day work.
- The “one day without email” initiative led to record lows in both sending and receiving emails, with reductions of 23% and 15% below average, respectively. This was accompanied by a notable increase in the use of Skype for Business, the predecessor to Teams, which Abanca adopted as a collaborative tool during the project.
Today Abanca has more than 6,000 employees and is present in Spain as well as in 10 other countries in Europe and America. Staying true to its values and business strategy, it continues to grow and improve its results in terms of both volume and solvency.