• Solutions
    • Execution & Communication
      • Real-Time Task Manager™
      • Q-Suite™
        • Q-Check
        • Q-Comm
        • Q-Visual
        • Q-Walk
        • Q-Docs
        • Q-Forms
      • Zebra Integration
    • Workforce Management
      • Workforce Scheduler™
      • Time and Attendance™
      • Employee Self-Service™
      • Reflexis Customer Connect™
    • Reflexis AI
      • AI Decisions
      • AI Staff Planner
      • AI Budget Planner
      • AI Performance Mgr.
    • Cloud, Mobility, & Analytics
      • Cloud Hosting Services
      • Advanced Analytics & Reporting™
      • Reflexis Mobility™
  • Industries
    • Retail
    • Hospitality
    • Banking
      • Overview
      • AI-Powered Workforce Management
      • Modernized Branch Operations
      • Integrated Customer Experiences
    • Healthcare
  • Customers
    • Customer Stories
    • Customer Success Program
  • Resources
    • Webinars & Events
    • Insights – Reflexis Blog
    • Case Studies
    • White Papers
  • About
    • Partners
    • Careers
    • News
    • Webinars & Events
  • Contact Us
  • Customer Support
  • English
    • Deutsch
    • Español
Language
  • lang English
  • lang Deutsch
  • lang Español
Blog
Customer Support
Reflexis SystemsReflexis Systems
Reflexis SystemsReflexis Systems
  • Solutions
    • Execution & Communication
      • Real-Time Task Manager™
      • Q-Suite™
        • – Q-Check
        • – Q-Comm
        • – Q-Visual
        • – Q-Walk
        • – Q-Docs
        • – Q-Forms
      • Zebra Integration
    • Workforce Management
      • Workforce Scheduler™
      • – Time and Attendance™
      • – Employee Self-Service™
      • Reflexis Customer Connect™
    • Reflexis AI
      • AI Decisions
      • AI Staff Planner
      • AI Budget Planner
      • AI Performance Mgr.
    • Cloud, Mobility & Analytics
      • Cloud Hosting Services
      • Reflexis Mobility™
      • Advanced Analytics & Reporting™
  • Industries
    • Retail
    • Banking
      • Overview
      • AI-Powered Workforce Management
      • Modernized Branch Operations
      • Integrated Customer Experiences
    • Hospitality
    • Healthcare
  • Customers
    • Our Customers
    • Customer Stories
    • Customer Success Program
  • Resources
    • Webinars & Events
    • Insights – Reflexis Blog
    • Case Studies
    • White Papers
  • About
    • Partners
    • Careers
    • News
    • Webinars & Events
  • Contact Us

Why are Banks Falling Behind on Mobile Scheduling and Workforce Management?

Why are Banks Falling Behind on Mobile Scheduling and Workforce Management?

white seperator line

Reflexis Blog

Branch Banks Mobile Scheduling Workforce Management

Mobile connectivity is a fact of modern life, and in most industries, employees and managers can view, revise, and attest work schedules from their devices. But branch banking has been slow to modernize workforce management processes, citing a variety of barriers to adoption.

However, the retail banking industry also needs to understand the dramatic benefits of evolving scheduling and staffing processes. Mobile scheduling and employee self-service aren’t just minor conveniences for branch employees, they’re a powerful driver for employee engagement and retention. Branch staff can view their schedules in advance, adjust availability, and bid to swap or pick up shifts to meet their needs. Scheduling clarity and flexibility is proven to increase employee satisfaction and retention.

These mobile tools are beneficial for managers too, with easy to use interfaces, AI-powered forecasting to streamline processes, and support for multi-skill and floating pools across the network. Managers can make schedule adjustments on the go, quickly advertising and filling open shifts, so there are no gaps in coverage. Mobile scheduling helps optimize scheduling to maximize customer engagement and drive sales.

With all of these benefits in mind, what is holding banks back?

Obstacles to Mobile Branch Banking Solutions

In a recent call with a large bank, the executive flatly stated that they do not support employee mobility. When pressed, there did not seem to be an exact answer why, as it’s a complex issue for banks. There are IT security challenges with any tech device in banking. For that matter, any firm with customer or employee data experiences security challenges, as well as BYOD, hardware costs, and branch WiFi limitations. There are even possible issues with local or state laws impacting company policies on device usage. While there are no easy and bulletproof solutions, many other industries have addressed these challenges in supporting mobility for employees. Although some banks are following suit, most are still lagging behind.

So what factors are holding branch banking back from more widely adopted mobile employee apps? As a former banker who used to write strategy, requirements, and business cases for tech investment, you need several things before adoption: ROI/NPV, strategic fit, risk evaluation, and executive support.

ROI/NVP

At the moment, ROI/NPV is tough to prove. Often, the mobile devices and apps provided to employees offer similar capability as the solutions on their laptops, so how do you quantify the benefit of a new device or channel? It’s easy to discuss possible savings and efficiencies, like improving employee usability or bolstering customers’ perceptions of banks and bankers as tech savvy against competition from Silicon Valley. However, these possible savings and qualitative benefits can be hard to quantify in a pro-forma business case for off-setting the costs of any mobile program for employees.

Strategic Fit

On the other hand, the strategic fit for mobile scheduling solutions should be obvious to most bankers, given both their personal use of mobile technology and the current trend toward investing in customer-facing mobile tools. Mobile solutions for employees result in a more mobile workforce. Many banks are currently trying to “untether” employees from their desks in order to foster customer conversations, or from their branches so they can float between multiple branches. Additionally, more flexible scheduling—and tools that support it—improve employee engagement, satisfaction, and retention.  This is especially critical in today’s high employment economy to avoid losing your best employees.

Risk Evaluation and Executive Support

The last two points are related to the first two. Until more banks adopt mobile strategies for employee self-service and scheduling, the ROI/NPV of those strategies is speculative. Until that point, you have teams from IT, risk, and legal barraging the business line with the costs, risks, worst case scenarios, and liability concerns. Many business line execs are reluctant to champion these tools and challenge IT, risk, or legal when the financial benefits are not as easy to quantify.

So, with that in mind, here are some statistics to empower those who want to challenge the status quo in banking. (courtesy of Lilach Bulloch at Forbes1)

  • The BYOD market is on course to hit almost $367 billion by 2022, up from just $30 billion in 2014 (Source: BetaNews).
  • 61% of Gen Y and 50% of 30+ workers believe the tech tools they use in their personal lives are more effective and productive than those used in their work life (Dell)
  • 60% use a smartphone for work purposes while 31% desire one (Dell)
  • Companies favouring BYOD make an annual saving of $350 per year, per employee (Cisco)
  • Using portable devices for work tasks saves employees 58 minutes per day while increasing productivity by 34% (Frost & Sullivan)

While there are no easy or safe answers around mobility for bank employees, banks should not keep procrastinating. There are a few banks that have made the leap, and I would bet, those that have will be leading the industry in the future.

For more on how mobile tools can help your branch banking employees, contact Ron Wellman at ron.wellman@reflexisinc.com.

1. https://www.forbes.com/sites/lilachbullock/2019/01/21/the-future-of-byod-statistics-predictions-and-best-practices-to-prep-for-the-future/#e691ba61f307

Banking Insight Posts

WFM Video Insights: Managing Through the Branch Closure Process

WFM Video Insights: Managing Through the Branch Closure Process

April 13, 2021

Flexible workforce management software can provide the staffing and forecasting agility necessary to help you navigate the branch closure process.

Video Insights: Exploring Branch Workforce Management – Multi-Site Scheduling

Video Insights: Exploring Branch Workforce Management – Multi-Site Scheduling

January 7, 2021

Reflexis is excited to continue our video series, with deep dives into key topics within the world of Workforce Management.

How a Pushed Work Model Improves Branch Productivity

How a Pushed Work Model Improves Branch Productivity

November 30, 2020

It’s time to switch your branch execution to a “push model” where activities are consolidated into a single system, intelligently prioritized, and pushed to employees when relevant.

Video Insights: Exploring Branch Workforce Management – Forecasting

Video Insights: Exploring Branch Workforce Management – Forecasting

October 23, 2020

We’re excited to launch a new video series diving into key topics within the world of workforce management. In this first video, Robert Woolsey discusses forecasting—why it’s important, best practices for managing the process, and stratedies to make your forecasts more accurate.

7 Steps to Secure Branch Banking Communications

7 Steps to Secure Branch Banking Communications

September 15, 2020

Given all of the recent challenges, have your managers and communications teams struggled to find effective, efficient and secure ways to communicate with your frontline employees?

Zebra
logos
reflexis

Reflexis Systems, Inc.
3 Allied Drive Suite #220
Dedham, MA 02026
+1 781-493-3400
sales@reflexisinc.com
Email Preferences

  • Home
  • Solutions
  • Customers
  • Resources
  • Contact Us

FAQ

© 2023 — Reflexis Systems, Inc. | Legal Terms | Privacy Policy

  • Home
  • Solutions
  • Customers
  • Resources
  • Contact Us
Our site uses cookies. By continuing to use our site you are agreeing to our cookies policy. Click here to read our cookies policy.