The most suitable competitive business strategy, in the case of the Mountain Bank is to build the presence in the market of consumer lending and corporate banking. First, Mountain Bank needs to expand its share in the market for consumer loans, as a significant amount of the market (25%) already belongs to the bank. Following the cross-selling method, Mountain Bank would be able to attract more customers to use the corporate services. As corporate services are described as very profitable, soon the Mountain Bank would be able to use the additional profits from the corporate services to expand its presence in the market of real estate and mortgage banking.
However, in following the strategy, the Mountain Bank should be focusing more on the customer experience and bring the bank tellers on the same level with customer service positions to prevent high turnover. The human resource practices that would benefit the commitment strategy in the universalistic approach while reducing the turnover are selective recruiting based on the company’s needs and extensive training courses for new employees. As for the human resource practices for other employees, they might need additional training according to the recommended strategy. Thus, the best suitable options for already existing employees are the encouragement of any suggestions and the broadening of responsibilities.
In terms of human resource strategy, the Mountain bank should prioritize the recruitment, learning, and development area to ensure that not only the teller position is the heart and soul of the bank. Instead, to acquire the image of a company that prioritizes customers’ experience, the principles used in the work of bank tellers should be equipped by employees in other departments. Moreover, as the new strategy implements the cross-selling method, all employees that communicate with customers must possess the same qualities as the bank tellers.