Human Capital Considerations for the New Branch
Celent Branch Transformation Panel Series Part 5
Celent has released a new report titled Human Capital Considerations for the New Branch. The report was written by Bob Meara and Jean-Marie Ubigau, both with Celent’s Banking practice.
The fifth in a series based on Celent’s Branch Transformation Research Panel, this report dives into the complex and challenging aspects of human capital.
Human capital is a matter of utmost importance: 97% of surveyed institutions regard having a comprehensive staffing strategy as part of their institution’s branch channel transformation program as “somewhat important” (24%) or “very important” (74%).
More than 90% of the institutions surveyed are changing their approach to human capital. Universal bankers are already commonplace and are here to stay. Results vary, however, and may largely be a matter of execution. Recruiting well-qualified staff is the #1 human capital challenge cited by banks and credit unions of all sizes.
“Human capital considerations may be both the most challenging and important aspect of branch channel transformation,” says Meara, a senior analyst. “No matter how slick the branch technology environment, it is the desire for staff interaction that continues to drive branch channel utilization.”
“Making these interactions valuable to both customers and the institution will be of the utmost importance for the foreseeable future,” says Ubigau, a Banking analyst.