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Why 20% of bank employees consider quitting: Survey
Bank employees are yearning for mobile solutions to improve routine tasks, such as scheduling time off, swapping shifts, and managing administrative duties.
According to the Zebra Reflexis Third Annual International Branch Banking Survey conducted by Zebra Technologies, scheduling challenges are a rising source of job dissatisfaction among bank employees. Administrative tasks are often handled manually, causing inaccuracies, disruptions, and longer customer wait times. The problem is so acute that 20% of survey respondents have considered quitting, the survey concluded.
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It's no surprise that well into the 21st Century, 95% of banking employees prefer to manage vital, yet non-customer-facing job functions through the ease and efficiency of a mobile device. What's surprising, according to the survey, is that nearly four out of five banking branches operate without a mobile solution to help employees manage their schedules and other workflow responsibilities.
These challenges can spill over and negatively impact the quality of customer service.
Survey takeaways
Zebra Reflexis said it polled 1,332 branch bank employees across 10 countries -- the US, the UK, Canada, Mexico, France, Germany, Spain, Poland, Italy, and the Netherlands -- about branch strategy and transformation. Survey questions examined trends in branch scheduling processes and tools, branch execution and efficiency, and branch communications. The survey resulted in the following findings:
- Nearly 80% of banks use a manual scheduling process that doesn't allow team members to manage their schedules or swap shifts when needed.
- 95% of respondents would like a mobile app to manage their schedules, swaps shifts, or set scheduling preferences. The trend shows a nearly 10-point increase from 2021.
- Compliance issues are also at stake; nearly 40% of respondents report using non-sanctioned communication tools to discuss work-related matters with colleagues.
- More than 80% of respondents report inaccurate forecasting tools and an inability to predict customer volume, leading to longer customer wait times and underprepared staff.
Brian Wallace, senior director of banking services for Zebra, told ZDNet that he predicts an uptick in number of banks implementing new solutions to streamline administrative job functions. "By making investments in technology, banks can better forecast customer trends and more effectively and nimbly plan and schedule their staff to deliver the best client experience," Wallace said.
Wallace noted how Zebra's Reflexis for Banking solution has reduced the time branch managers spend creating and managing staff schedules, simultaneously improving staffing efficiency through its multi-site scheduling solution to flex resources across neighboring branches. "Some banks have improved the execution of branch tasks and activities while also enabling employees to collaborate on our secure, mobile communications platform to minimize risk and improve policy compliance," Wallace shared via email.
Task management apps to know
Fintech tools continue to gain more popularity among the general public. This survey highlights the need for banks to implement mobile workforce management tools to remain competitive in an evolving digital environment. With 95% of staff members expressing job dissatisfaction linked to the lack of flexibility and control over their schedules, a mobile-based workforce management system could represent a profitable investment.
See also: The best task management software
In addition to Reflexis for Banking, the following list highlights other cloud-based task management apps that specialize in scheduling features:
- Kronos is a comprehensive, respected competitor in the field of cloud-based task management solutions.
- Workforce.com provides users with a seamless solution for challenges in managing employee scheduling, staff attendance, and employee time off.
- Connecteam, billed as an all-in-one employee software solution, is a web-based app that provides functionality to handle scheduling, asset management, and staff training.
- Deputy is one of the fastest growing mobile workforce management companies on the market, providing bank employees with the high-powered, scalable features survey respondents are requesting.