Regions Bank 2011 Annual Report Download - page 13

REGIONS 2011 ANNUAL REPORT 11
who are in distress. We want to do our part so
they can keep their homes, their cars and their
businesses. Shared responsibility means edu-
cating customers, helping them take ownership
of their dreams and helping them fi nd a solution
when times are tough.
Our Customer Assistance Program, which was
started in 2007, is a great example of how we
work with customers to bridge them to better
times. To date, we’ve helped more than 42,000
people stay in their homes, and our foreclosure
rate is less than half the national average. The
guiding principles of this program are to:
• Focus on long-term solutions
• Balance bank interests and customer needs
• Communicate proactively
• Educate customers and communities
• Provide a quick and simple workout process
Building the Best Team
Standing at the foundation of all we do is our
talented team of associates, and we are com-
mitted to ensuring that we retain our best talent
while also recruiting new talent. Like our other
strategic priorities, we manage performance to
ensure we are maximizing our potential indi-
vidually and as a team. We are committed to
fostering an environment where associates can
make a positive difference, grow professionally
and achieve success.
Simply stated, we want to build the best team
in the industry by executing a comprehensive,
integrated approach to organizational develop-
ment with a focus on our fi ve corporate values:
• Do What is Right
• Put People First
• Reach Higher
• Focus on Your Customer
• Enjoy Life
This approach includes a thorough review of
everything from recruiting practices to associ-
ate retention, from leadership development to
performance management. We want to ensure
we provide associates the kind of opportunity
that allows them to come to work with a sense
of purpose and go home with a sense of pride
every day.
In our leadership development programs, we
stress the importance of collaboration, integrity
and accountability. Our managers ensure their
teams have clear goals established and that they
provide feedback regularly – not just once a year
in formal reviews. Excellent teams are built when
team members clearly understand their roles
and how their contribution infl uences success. I
believe our commitment to our values and to our
associates helped guide us through a challenging
economy, and we are confi dent this same com-
mitment will be key to our success in the future.
LOOKING AHEAD
The overall consensus for 2012 from econo-
mists is for marginally better but still below-trend
economic growth (GDP growth between 2%
and 3%). The unemployment rate is projected
to remain near 9% for most of the year. Hous-
ing starts are expected to total approximately
700,000, or 100,000 more than in 2011, but
only about one-third of the peak of 2.1 million
units witnessed in 2005. Infl ation is projected at
just over 2% for 2012.
As we look ahead to 2012, we recognize that
we still face challenges – both with respect to
64% of Regions associates own Regions stock.
Regions associates participated in 906,368 hours
of training in 2011.