There’s no person, no employer, and no community that hasn’t been impacted.
And long-term changes sparked by the pandemic will continue to unfold.
But despite ongoing uncertainty, there are many reasons to be optimistic about the future. Largely because of the ways people and businesses have adapted for nearly two years.
Regions President and CEO John Turner recently addressed business and philanthropic leaders in the bank’s headquarters city. He provided a progress report on how Regions has innovated during a season of unprecedented change.
Here are some key insights from Turner’s remarks to the Kiwanis Club of Birmingham. These insights reflect how Regions conducts business, serves communities, and builds its reputation as a great place to work.
The first insight is that our mission, vision and values matter more than ever.
Customers and communities want to do business today with companies that share their values.
Turner noted the Great Resignation that’s occurring right now, in which 4.3 million people left their jobs in August alone. “Pay, benefits, job security and shared values were seen as the main drivers for change,” Turner said. “All of which speaks to an organization’s higher purpose.”
Turner then described Regions’ principle of shared value, which is creating value for everyone and everything we impact including people, clients, communities, business partners, and shareholders. “When business is done well, all parties benefit,” he said.
The discussion turned to the work the bank has done in Birmingham and across the community, and how many of the Kiwanis members have also contributed to initiatives such as Birmingham Promise, Prosper Birmingham, Innovation Depot, and others.
The second key takeaway from the pandemic was that building strong customer and employee experiences are essential to sustainable success.
Turner highlighted recent investments that improved the banking experience for our customers, such as digital and mobile banking. He also noted the $6.1 billion dollars that were earmarked for small business and community development banking this year.
As for the employee experience, Turner mentioned our Gallup citation as an exceptional workplace and also the recognition by the U.S. Military and the LGBTQ communities.
“Despite all the talk about technology and digitization, our business is still a people business,” Turner said. “Our success will be dependent on the strength of our teams.”
The final key insight centers on our suppliers and business partners – and the importance teamwork.
Communicating and working closer than ever with stakeholders was critical during the pandemic and given the state of the currently global supply chain. Turner added, “I don’t think this trend will reverse.”
Turner closed the presentation by encouraging ongoing partnership, collaboration and “coming together in the same spirit that defines and embodies the Kiwanis Club of Birmingham.”
“So many of the challenges we are facing today as a society are simply too big and too complex for any single government, or business, or NGO to fix on its own,” Turner said.
The meeting ended on a note of optimism and excitement about the future.
“Despite the health crises, economic stress, political discord and social unrest we are facing, innovation and investment are the catalysts for a rapidly changing and transforming world,” Turner said. “Business and communities that are resilient and can adapt to these changing times will prosper, and I believe Birmingham and Alabama can be a winner.”