20 years ago nearly every bank in the country had a robust training function that provided the skills employees needed to perform their respective roles. It became the competitive advantage that fueled human resource retention efforts, and made hiring from the competition a very costly endeavor. Well trained individuals remained working for the same bank for their entire careers, and loyalty toward the bank was an expected and achieved result. But as margins shrank, and cost cutting became the new way to show a profit, training over an entire industry was slashed and burned. And an entire industry has suffered from this change in focus.
Yet all indications are now pointing to a revival of sorts in the interest and attention being paid to training bank staffs internally. The proverbial well to hire skills from the competition has dried up and forced banks of all shapes and sizes to reassess the need to build both basic competencies and job specific skills so their staff members can perform their jobs. The larger banks are well into the process of rebuilding their learning environments, and the mid-size to smaller banks seem to be adding this project as a high strategic priority.
Having built a bank training function from scratch, I know first hand how much work is involved not to mention at stake if done incorrectly. My heart goes out to the Human Resource Director that is now responsible with everything else on their plate to pull a rabbit out of a hat and have a functional training department up and running sooner than later.
Since I owe a lot to the banking industry for two career paths over the past 33 years, I am devoting all of my time and attention to helping any bank in the country that wants to rebuild their training function with the least amount of pain possible. Bank training is back in business and I am into helping as many banks as I can meet this challenge!