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IBT Enterprises and Corporate Psychology Resources Form Strategic Partnership ATLANTA - June 12, 2006 - IBT Enterprises, LLC, a leader in retail design, construction and consulting services for the financial industry, announced it has formed a strategic partnership with human capital consulting and software firm Corporate Psychology Resources. As a result of the partnership, IBT clients will have access to specialized services and a customized version of Corporate Psychology Resources' web-based talent management system for financial service institutions. The combination of Corporate Psychology Resources' personality assessment capabilities and IBT's performance training enables financial institutions to address the recruitment and retention challenges in today's competitive environment, resulting in reduced overhead and improved performance. Today, employee turnover at financial institutions is a serious concern. Studies report frontline employee turnover rates as high as 50 percent. With such high levels of employee churn, it is difficult for financial institutions to develop experienced staff members or grow long-term customer-employee relationships. IBT recently completed a nationwide study of U.S. banking consumers that found 54 percent of consumers do not have a good relationship with a specific individual at their primary financial institution. "Selecting and retaining talent is one of the biggest challenges corporate institutions face today," said Mylle Mangum, chairman and CEO of IBT Enterprises. "Financial institutions specifically are transitioning from an operationally focused culture to a sales and consultative culture, but for many, that change has yet to be reflected in their human capital strategy. Through this partnership, IBT helps clients address this growing problem by giving banks and credit unions solid guidance on and best practices for attracting, recruiting, hiring and retaining the right staff." Corporate Psychology Resources specializes in helping companies identify and develop the right talent for their culture and business strategy. Combining insightful consulting in the area of human capital policies and procedures, with its proprietary talent management system, TalentQuest™, Corporate Psychology Resources improves profitability through higher employee productivity and decreased expenses, resulting from improved performance and lower turnover. IBT and Corporate Psychology Resources have collaborated on a study that benchmarks the common traits of top performing front-line and managerial employees in financial institutions who have successfully transitioned to a sales culture. The study will result in the development of profiles that will be available to IBT clients who subscribe to TalentQuest. Full results of the study and the selection profiles are expected to be available in early summer 2006. "This partnership is testimony to IBT's understanding of what financial institutions need to perform and excel in today’s rapidly changing business environment," said Dr. Frank Merritt, president of Corporate Psychology Resources. "By assembling a solid mix of facility best practices with human capital optimization tools and techniques, IBT is delivering something truly unique to financial service providers." This announcement comes on the heels of the release of the 2006 IBT Market Pulse Survey™, a nationwide study of U.S. banking consumers that pointed to a growing desire among consumers for a more face-to-face banking experience. For more information about the 2006 IBT Market Pulse Survey™ visit IBT’s Idea Studio. About Corporate Psychology Resources
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"IBT has been a vital partner to Meijer by helping us meet our customers’ expectations of providing one-stop shopping and convenience. In addition, IBT has worked diligently to bring us financial institution partners that uphold the values of the Meijer brand and are committed to in-store banking as a long-term strategy."
Lynn Richardson Additional Resources
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