Wells Fargo
Systematic Approach to Negotiation: 300% ROI
The Situation
Well Fargo is a diversified financial services company that provides a broad range of banking, asset management, wealth management, and corporate and investment banking products and services with over 260,000 employees. SNI was engaged to provide their commercial lenders and investment bankers with an advanced negotiations training program.
Because the cost of training programs has the potential to exceed the intended benefits, the ultimate level of evaluation is a measure of return on investment where the monetary value of the education benefits is compared to the cost of providing the program. Wells Fargo based their study of the two-day advanced SNI negotiations training seminar on a fully loaded program cost, which included all fees associated with the course design, development, facilitation, seminar materials, participant travel expenses, and course evaluations costs.
The SNI Solution
The negotiations training program provided the commercial lenders and investment bankers with a systematic approach to negotiating with external and internal partners.
Participants learned how to prepare in order to better understand their goals, probe to learn the goals of the other party, and make better proposals. Dealing with difficult negotiators, defending against tactics, and creating a WIN-win atmosphere were also implemented.
The Impact
“Thank you for a great learning experience. I have attended a couple of these negotiations training sessions (at my previous employer) and found your program to be superior. Why? I walked away with a process that I can put in use TODAY. Most other classes gave me ideas and positions—but did not offer a process.”
–Market President, Wells Fargo
“Although I have attended a variety of different types of training in my 33 years of banking, I can honestly say this was the most relevant and useful training session I have ever been involved in.”
–Wholesale Banking Executive, Wells Fargo
The Result
Wells Fargo tracked the business impact using the new skills and knowledge over a six-month period and compared the data to the same period in the previous year to determine the change in performance. The results concluded that Wells Fargo realized a Return on Investment to be in excess of 300%.
