Archives of Humanities & Social Sciences Research

Change Implementation KPIs for Measuring the Successful Implementation of a Banks Crisis Recovery Strategies

Abstract

Jennifer Davis Adesegha

Even if bank crisis management requires a lot of changes, effective change management is often not considered as instrumental for ensuring the bank’s faster recovery from crises. To address such a misconception, this study uses systematic review to undertake a critical analysis of the change implementation KPIs that are essential for measuring the success of bank crisis recovery strategies. Through such analysis, the study aims to not only highlight the importance of change management, but also how the clear designation of change implementation KPIs influences the successful implementation of the bank’s crisis recovery strategies. Findings revealed the outline of KPIs in the areas like the bank’s profitability, liquidity, internal fraud management, technology, resources, skills, partnership, structural change to enhance change implementation. Findings also indicated employees’ understanding and embracement of change, as well as activities’ coordination and communication to be essential for measuring the success of changes required for the implementation of the bank’s crisis recovery strategies. But the misconception that change is not part of the bank’s initiative for recovering from the crisis was found to cause poor communication, incompatible leadership styles and poorly formulated change vision. It also causes the setting of poorly conceptualized and ineffective change management KPIs and metrics as well as a disintegrated change implementation approach. To address these challenges, contemporary banking executives need to recognise that managing the bank’s crisis recovery requires the introduction of a lot of changes that also need the use of the appropriate complementary change management strategies and KPIs.

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