Bank Teller Job Market Trends
Bank teller job trends point to this common fact: the old style bank teller job is on the way out. The big changes to the way people do business have effectively meant that the job must change. The counter service role is reducing in importance, and the administrative, sales and other functions are increasing.
It's not all bad news for bank tellers. The good news is that the role of the bank teller is expanding. It's completely remodeling the traditional role. That's good news because the old bank teller job has limited options compared to the new jobs.
The Changing Banking Sector Employment Market
The new job market is emphasizing some of the basic bank teller job roles but adding a lot more marketable extras in career terms.
Core changes to the banking industry have reshaped the bank teller job from a basic role into a career-making opportunity. The major areas of emphasis in retail banking affecting bank teller jobs are these:
- Customer service
- Sales of bank products and services
The reason for the change of emphasis is that these are far more productive roles. These new roles are much more cost-effective job designs than the traditional bank teller job could ever hope to be. In this market, these roles are the driving forces of the banking industry.
There's another economic reason for the decline of the traditional bank teller job. The demand is dropping off with the new methods of banking. A new generation that doesn't know of a time before online banking won't even necessarily see the need to go physically to a bank.
A traditional bank teller job, in fact, is becoming progressively more irrelevant to both banks and customers. The traditional bank teller job is an organizational job, and it's confined by nature to the organizational progression. The traditional bank teller jobs no longer match modern organizational functions very well. You can still progress from teller to supervisor or manager but in a vanishing workplace environment.
The good news for those in bank teller jobs is that their remodeled versions are excellent for career development. They now relate directly to core corporate functions, meaning that these jobs can achieve career progression with a much longer range.
An old style bank teller could have had to spend decades in a bank to achieve a manager's job. Now, a customer service or finance officer can become a bank manager at more or less the speed he or she can qualify for the job with the right experience.
There's a further advantage in the remodeled jobs. Because the training for banking and finance is well integrated, the new jobs do have a direct career track to the top. The new jobs have far greater job mobility, too, because these roles operate across the entire banking sector.
The net result is that the bank teller jobs are being replaced with much stronger career options. The new job designs and healthier skill sets can get jobs throughout the banking industry. If you're in an old style bank teller job, have a look at the possibilities. You won't regret it.