In 2017, BankservAfrica undertook an exercise to identify the strength of their relationships with their key stakeholders: regulators, customers, and industry associations. After going through a process to identify the most appropriate service provider for the task, they settled upon SRA (Pty) Ltd as they recognised that SRA’s SRC360™ framework was the most appropriate assessment methodology for their needs.
The one divergence that BankservAfrica had from our traditional assessment programme was that they had requested that a member of BankservAfrica’s management team would sit in for every interview. We were initially reluctant about the request to have a representative of BankservAfrica at the interviews; we have always conducted the assessment interviews without the involvement of our clients as we’d always felt that the interviewees would be reluctant to respond objectively and authentically to the questions about the relationship in front of a representative of the organisation that they were being interviewed about.
To our surprise, we found that the presence of the BankservAfrica member of management actually served to enhance the interview process. In addition to being able to contextualise the interview questions and to serve as a frame of reference that could assist our interviewers in decoding industry jargon, we’d found that the interviewees not in the least concerned about the presence of the BankservAfrica employee and proceeded to respond in as authentic and disaffected manner as though they were not in the room – thereby demonstrating the strength of the relationships and the awareness by the interviewees that BankservAfrica’s intention behind this exercise was to genuinely address issues of concern and not to just tick a box.
This became clearer to us over the years as we’d found that BankservAfrica had implemented a Remediation Programme under the auspices of the Stakeholder Engagement unit, with the purpose of addressing the issues that came up as being a cause for concern for the interviewees and to track the success of these remediation steps, as well as providing a report on the outcome of the interventions to the relevant stakeholders. The outcome of this Remediation Programme was that the overall external stakeholder scores improved by 12 points from the 2018 assessment to the 2020 assessment.