Nearly half of bank staff may leave due to outdated technology, survey finds
Zebra Technologies Corporation, known for its digital solutions connecting data, assets, and people, recently announced the results of its fifth annual International Branch Banking Employee Survey results.
Conducted by Survey Monkey in December 2023, the survey collected insights from over 1,300 bank branch employees across the United States and the United Kingdom.
It revealed that about 52 percent of managers and 49 percent of staff are contemplating leaving their jobs within the next 12 months due to low job satisfaction.
A critical factor contributing to this dissatisfaction is the considerable amount of time—reported by 49 percent of branch employees—spent on administrative and operational tasks rather than customer service.
Notably, almost 80 percent of the respondents expressed a keen interest in integrating modern technology into their branches to decrease the time dedicated to non-customer-facing activities.
The survey also highlighted customer service inefficiencies, with 75 percent of customers waiting more than six minutes and 25 percent experiencing wait times exceeding 11 minutes. These delays are attributed to outdated technology and legacy systems that fall short of meeting employee and customer expectations.
Zebra's Workcloud is highlighted as a solution that allows bank employees to allocate more time to customer interactions, thus reducing wait times and enhancing the overall customer experience.
Findings further indicate that 88 percent of respondents are dissatisfied with their current scheduling process, and 84 percent prefer the flexibility to manage their calendars on their phones.
Additionally, over half of the respondents cannot factor in personal preferences when managing their schedules, pointing to a significant gap in employee scheduling and task management.
Suresh Menon, senior vice president and general manager of Software and Solutions at Zebra Technologies emphasized the critical role of technology in improving job satisfaction and customer experiences.
He warned that banks delaying the adoption of suitable technology risk facing higher recruitment and training costs and a decrease in customer loyalty due to poorer service quality.
Zebra Technologies aims to address these challenges through its banking workforce management solutions, which are part of the Zebra Workcloud. This suite gives employees more control over complex scheduling and task management aspects, aiming to boost efficiency, customer loyalty, and employee retention.
Zebra will demonstrate its Workcloud Workforce Optimization Suite and AI-powered banking solutions at CBA Live, scheduled for March 25-27, in Washington, D.C., showcasing how banks can emerge as winners by implementing solutions that cater to both employee satisfaction and customer experience enhancements.
