Memorandum

To: Head of Human Resource Department

From: Head of Marketing and Corporate Affairs Department

Date: July 31, 2025

Subject: Importance of Internal Marketing Communications in Enhancing Employee Engagement and Bank Performance

Dear Head of Human Resource,

I am writing this memorandum to highlight the critical role of Internal Marketing Communications (IMC) in our bank, particularly in treating employees as a key internal audience. As banks worldwide, including those in Ghana, increasingly adopt IMC, it is essential for us to align our strategies to foster a motivated workforce that delivers superior customer service. This aligns with the Bank of Ghana’s (BoG) Corporate Governance Directive 2018, which emphasizes employee training and internal controls for operational resilience.

Brief Explanation of Why Internal Marketing Communications Are Important:

Internal Marketing Communications involve strategies to communicate the bank’s vision, values, and objectives to employees, positioning them as internal customers. This is vital in the service-oriented banking sector, where inseparability of service delivery from personnel is a core characteristic. From my over 20 years in Ghanaian banking at institutions like Ecobank Ghana and Stanbic Bank Ghana, I have seen how effective IMC directly impacts profitability and compliance.

Key reasons for its importance include:

• Enhancing Employee Motivation and Alignment: IMC ensures employees understand and buy into the bank’s goals, reducing turnover and boosting morale. For instance, post-2017-2019 banking cleanup in Ghana, banks like GCB Bank used internal newsletters and town halls to align staff with recapitalization efforts under BoG Notice No. BG/GOV/SEC/2023/05, resulting in sustained performance during crises like the 2022-2024 Domestic Debt Exchange Programmed (DDEP).
• Improving Service Quality and Customer Satisfaction: By treating employees as brand ambassadors, IMC equips them with knowledge to deliver consistent services, closing the service quality ‘GAP’ as per models in financial services marketing. In practice, Access Bank Ghana’s internal training communications led to better handling of digital banking risks, complying with BoG’s Cyber and Information Security Directive 2020, and enhancing customer trust.
• Facilitating Knowledge Sharing and Innovation: IMC promotes cross-departmental communication, fostering innovation in products like fintech integrations under the Payment Systems and Services Act, 2019 (Act 987). Global examples, such as Barclays’ internal portals, have been adapted in Ghana to encourage ideas that align with sustainable banking principles.
• Supporting Change Management and Compliance: During transitions, like post-DDEP recovery in 2025, IMC helps disseminate regulatory updates from BoG’s Liquidity Risk Management Guidelines, ensuring staff adherence and minimizing operational risks, as seen in the collapses of banks like UT Bank due to poor internal governance.
• Building a Strong Organizational Culture: IMC reinforces ethical practices and relationship-based marketing, shifting from transaction-focused to long-term employee loyalty, which indirectly supports external marketing efforts and overall bank resilience.

I recommend integrating IMC into our HR strategies to leverage these benefits. Attached is an outline of an Internal Marketing Plan for discussion at the next Management meeting. Please review and provide feedback.

Best regards,
[Your Name]
Head of Marketing and Corporate Affairs Department

Outline of an Internal Marketing Plan

As requested, below is a structured outline for an Internal Marketing Plan, designed to be presented at the next Management meeting. This plan is tailored for our bank, drawing from practical experiences in Ghana’s banking sector, ensuring compliance with BoG directives and focusing on post-DDEP trends like digital transformation and employee well-being as of 2025. The plan spans one year initially, with annual reviews for adaptability.

1. Executive Summary
   • Overview of the plan’s objectives: To treat employees as internal customers, enhance engagement, and align with corporate goals for improved service delivery.
   • Key metrics: Employee satisfaction scores (target: 85% via annual surveys), reduced turnover (target: <10%), and service quality improvements (measured by Net Promoter Score).
2. Situational Analysis
   • Internal Audit: Assess current employee communication channels (e.g., intranet, emails) and gaps, using tools like staff feedback surveys.
   • External Factors: Consider BoG regulations (e.g., Corporate Governance Directive 2018) and market trends like AfCFTA opportunities requiring skilled staff.
   • SWOT Analysis:
     • Strengths: Experienced workforce post-cleanup.
     • Weaknesses: Potential silos in departments.
     • Opportunities: Digital tools for IMC (e.g., mobile apps).
     • Threats: Competition for talent from fintech’s.
3. Objectives
   • Short-term: Increase awareness of bank values among 90% of staff within 6 months.
   • Medium-term: Improve cross-functional collaboration to support new product launches.
   • Long-term: Foster a culture of innovation compliant with Basel III-adapted standards.
4. Target Audience Segmentation
   • Segment employees by role: Frontline (e.g., tellers), Middle Management, Senior Executives.
   • Customize messages: E.g., compliance training for treasury officers, leadership updates for executives.
5. Strategies and Tactics
   • Communication Mix: Use a blend of digital (intranet portals, apps) and traditional (workshops, newsletters) channels.
   • Content Development: Create tailored content on topics like DDEP impacts, digital banking risks, and ethical marketing under BoG’s sustainable principles.
   • Engagement Initiatives: Launch quarterly town halls, recognition programs (e.g., Employee of the Month), and training aligned with Act 930.
   • Partnerships: Collaborate with HR for joint programs, drawing from international best practices like those at global banks (e.g., HSBC’s internal campaigns).
6. Implementation Timeline
   • Month 1-2: Audit and planning.
   • Month 3-6: Rollout of core communications (e.g., launch intranet updates).
   • Month 7-12: Monitoring and adjustments, with mid-year review.
7. Budget
   • Allocation: GH¢50,000 for digital tools, GH¢30,000 for events, GH¢20,000 for materials (total: GH¢100,000, subject to approval).
   • ROI Focus: Link to reduced operational risks and higher productivity.
8. Monitoring and Evaluation
   • KPIs: Track via dashboards (e.g., engagement rates, feedback scores).
   • Tools: Use surveys and analytics compliant with data protection under Act 987.
   • Adjustments: Quarterly reports to Management for iterative improvements.

This outline provides a practical framework, emphasizing feasibility for BoG approval and integration with daily operations. I look forward to discussing it further.