This is the fifth in a series of reports based on Celent’s Branch Transformation Research Panel. The purpose of the effort is to look deeply into the objectives, priorities, risks, barriers, and likely outcomes of branch channel transformation efforts in North America.
This report examines human capital considerations in branch channel evolution.
KEY RESEARCH QUESTIONS
Some of the findings include:
Celent offers three recommendations for banks seeking to improve the efficiency and effectiveness of their branch networks. Specifically: lead with human capital investments; extensively train on digital capabilities; and compensate generously, with strategically chosen variable components.
In the final analysis, human capital considerations may be both the most challenging and important aspect of branch channel transformation. No matter how slick the branch technology environment, it is for staff interaction that most customers continue to choose to use the branch. Making these interactions valuable to both customers and the institution will be of the utmost importance for the foreseeable future.