Bancolombia – “A good employer”

Pros

Bancolombia is Colombia's largest Bank and has immense opportunities to keep on growing. This creates constant opportunities for its employees to grow with the Bank. The average employee is a good team player and in addition it has one of the most competitive compensation structures in the regional financial marketplace.

Cons

It can take to long to make important shifts on strategy. It is unacceptable to have the amount of unsatisfied clients this Bank has, and move so slowly to fix the problem. Senior management believes that a new IT system is going to get their productivity and client satisfaction on the rise, but from what I saw they are not familiar with the Murphy curve for IT implementations.

Advice to Senior Management

They should promote the training opportunities for its employees and highly compensate and reward those who go far and beyond from their comfort zones. Some highly talented employees prefer to resign and leave the Bank to pursue additional degrees. If the Bank didn't limit itself to just two programs that promote studies abroad, it would enhance the global mindset and talent of its work force. The costs of such a program are low, when compared to the high value the returning employees add to the company.