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How to Efficiently Educate Your Bank Employees

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How to Efficiently Educate Your Bank Employees


Even the most experienced bank employees face many challenges at their jobs, despite their formal education, or their prior job training. This is not only because different banks work differently, have specific operations and workflows, and offer a variety of different services but also because the financial sector is evolving all the time thanks to technology and the constant change in bank clients’ expectations and demands.

As a result, if you want your bank to remain relevant, you need to invest in employee education. In this article, we’ll discuss the benefits of providing effective training for your bank employees.

Use a Professional Training Provider

Successful businesses in any industry outsource things that are outside the realm of their expertise, or that will help them improve their operating efficiency, by allowing them to focus on more important things. There are many different options for training but hiring professionals who specialize in educating employees in the financial sector will ensure efficient, steady, and fast learning.

Moreover, training providers have experience and know which mechanisms will work best, saving you the trouble of learning from your own mistakes. In other words, this is the most cost effective and overall efficient way to implement training in your bank and make it a normal part of the workflow, rather than a burden for your employees and the organization.  

Provide Relevant Training

There are countless benefits from ongoing training not only for the employees, but also for the clients, and ultimately the bank itself. Aside from the general training for new hires, to ensure efficiency and to stay relevant, you should implement more specialized continuous education.

For instance, mortgage lenders can provide mortgage compliance training to their employees, which will give them the necessary knowledge of the frequent regulations’ changes, help them stay current, and provide better service to their clients.

Invest in Upskilling

A good training program is the best way to teach your employees about the organization, the regulations, and their role, but stopping there isn’t enough. Internal education should help them slowly but surely become better and better and learn new skills. Focusing training on upskilling employees, or, in other words, teaching them new skills for their job, can set you apart from other banks, and help you lower employee turnover, as well as recruit proactive employees.

This is because most professionals strive for professional development and learning more. So, investing in the development of your workforce is crucial to increasing job satisfaction, which translates to loyal employees. On top of that, your organization will gain a lot by building the strengths of your employees – improved operating efficiency, better customer service, and so on.

Assign New Roles to Old Employees

With new technologies developing all the time, the financial sector never stops evolving. But this world isn’t immune to other circumstances, like the pandemic, either. This forces banks to constantly look for ways to adapt to new situations. As a result, some skills are becoming obsolete, and the need for new ones grows. One way to manage this is to retrain employees. Reskilling essentially consists in teaching employees new skills, preparing them for a new job.

The most efficient way to do this is to make sure that the skills for the new job they will be performing are complementary to the ones required by their previous tasks. This is another great way to ensure loyalty amongst employees, who are already familiar with the organization and your goals, instead of firing them and hiring new people, and starting their training from scratch. Most importantly, reskilling is far more cost-effective than firing old employees and hiring new ones.

Make Education a Priority

Providing training for each employee is one thing but getting them to commit to learning new skills is another. One important thing to keep in mind is that your employees already have to face a lot of challenges, both in their professional and their personal lives.

This is why training shouldn’t be another thing that will add stress to their lives. Instead, you should find ways to make it simple and fun. Utilize tools that will allow them to adapt the training according to their needs, interests, and circumstances.

Conclusion

Providing training within your bank is crucial to the success of your organization. It will help you keep up with changes in regulations, technologies, and customer expectations, and it will help you save on hiring new staff. This is why you should focus on finding what works best.

However, to be efficient, internal training should also be beneficial for the employees without making their lives harder. To make the most of bank training, don’t solely focus on employees’ initial training upon hiring them. Instead, invest in continuous training to upskill or reskill if necessary.



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Sneak Peek: The MozCon 2023 Speaker Line-Up

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Sneak Peek: The MozCon 2023 Speaker Line-Up

The year may slowly be wrapping up but we’ve got an extra special, early gift to share before you log off that laptop and put away your favorite travel mug.

We’re thrilled to announce the first 19 extraordinary speakers that will be taking the MozCon 2023 stage in Seattle this coming August (in alphabetical order).

Snag your Super Early Bird tickets!

Meet the speakers

Amanda Jordan (she/her)

Director of Digital Strategy, RicketyRoo
@amandatjordan | @ricketyroo

Amanda is passionate about helping complex, large businesses improve their local visibility. Her background includes working with clients in the legal, health, financial, and home services industries.

Andi Jarvis (he/him)

Strategy Director, Eximo Marketing
@andijarvis | @EximoMarketing

Andi is the Founder and Strategy Director of Eximo Marketing, a marketing strategy consultancy based in the UK. Eximo works with established manufacturers who want to grow their business via direct to consumer. Andi also hosts the Strategy Sessions podcast.

Brie E. Anderson (she/her)

Owner, BEAST Analytics
@brie_e_anderson

Brie E Anderson is an Analytical Nerd with a Soft Spot for Strategy. She’s spent the last 10 years helping businesses of all sizes execute data-driven strategies to increase ROI. Today, she runs BEAST Analytics, a digital marketing analytics consultancy.

Carrie Rose (she/her)

CEO & Founder, Rise At Seven
@CarrieRosePR | @RiseAtSeven

Carrie Rose, Founder of leading Global Search-First Creative Agency Rise at Seven both driving and facilitating search demand for global brands operating in 4 locations across the world including UK, US and EU

Chris Long (he/him)

VP of Marketing, Go Fish Digital

@GoFishChris | @GoFishDigital

Chris Long is the VP of Marketing for the Go Fish Digital team. He works with unique problems and advanced search situations to help clients improve organic traffic through a deep understanding of Google’s algorithm and web technology.

Crystal Carter (she/her)

Head of SEO Communications, Wix
@CrystalontheWeb | @wix

Head of SEO Communications, Wix, Crystal is an SEO & digital marketer with over 15 years of experience. Her clients have included Disney, McDonalds, and Tomy. An avid SEO communicator, her work has been featured at Google Search Central, Brighton SEO and more.

Daniel Waisberg (he/him)

Search Advocate, Google
@DanielWaisberg | @google

Daniel is a Search Advocate at Google, part of the Search Console engineering team. His job is divided between educating / inspiring the Search community and working with the product’s engineering team to develop new capabilities.

Duane Brown (he/him)

Founder & Head of Strategy, Take Some Risk Inc.
@DuaneBrown

Duane has lived in 6 cities across 3 continents while working with Ecom, DTC and SaaS brands. He now lives in Canada helping brands grow through data, strategy and PPC marketing across search & social ad platforms.

Jackie Chu (she/her)

SEO Lead, Intelligence, Uber
@jackiecchu | @uber

Jackie Chu is currently the SEO Lead, Intelligence for Uber, driving analytics and tooling for the SEO teams globally. She has deep experience in technical SEO, content SEO, ASO and international SEO spanning both B2B and B2C industries.

Jes Scholz (she/her)

Group CMO, Ringier
jes_scholz | @ringier_ag

Group CMO at Swiss media giant Ringier, marketing technologist & mum of two tiny humans. Jes loves to talk about the future of search, smart marketing automation and travel.

Lidia Infante (she/her)

Senior SEO Manager, Sanity
@LidiaInfanteM | @sanity_io

Lidia has been working in SEO for almost a decade, helping businesses in SaaS, media and e-commerce grow online. She has a BSC in Psychology and a Master in Digital Business and is a regular speaker at SEO events such as MozCon, BrightonSEO or WTSFest.

Lily Ray (she/her)

Senior Director, SEO & Head of Organic Research, Amsive Digital
@lilyraynyc | @​​amsive_digital

Lily Ray is the Sr. Director, SEO & Head of Organic Research at Amsive Digital, where she provides strategic leadership for the agency’s SEO client programs. Lily began her SEO career in 2010 in a fast-paced start-up environment and moved quickly into the agency world, where she helped grow and establish an award-winning SEO department that delivered high impact work for a fast-growing list of notable clients, including Fortune 500 companies.

Miracle Inameti-Archibong (she/her)

Head of Organic Search, John Lewis (Financial Services)
@Mira_Inam

Miracle is Head of Organic Search at John Lewis (Financial Services) and is armed with more than a decade of supporting national, and global brands with technical SEO and data strategy.

Noah Learner (he/him/his)

Product Director, Two Octobers
@NoahLearner | @twooctobers

Noah is a technical marketer, nicknamed the Kraken, who is happiest building SEO tools, automations, data pipelines and communities. When not in the lab, he loves skiing, fly fishing, camping with his family, and walking his dog, Shadow.

Dr. Pete Meyers (he/him)

Marketing Scientist, Moz
@Dr_Pete | @Moz

Dr. Pete is Marketing Scientist for Seattle-based Moz, where he works with the marketing and data science teams on product research and data-driven content.

Ross Simmonds (he/him)

CEO & Founder, Foundation Marketing
@TheCoolestCool | @FoundationIncCo

Ross Simmonds is the founder & CEO of Foundation, a global marketing agency that provides services to organizations all over the world ranging from some of the fastest-growing startups to global brands. He was named one of Atlantic Canada’s Top 50 CEO.

Tom Anthony (he/him)

CTO, SearchPilot
@TomAnthonySEO | @SearchPilot

Tom is CTO at SearchPilot, where he leads the engineering & product teams. Tom has been working on the web for over 25 years, and has a PhD in Computer Science. He lives with his wife and 3 daughters in Germany.

Tom Capper (he/him)

Senior Search Scientist, Moz
@thcapper | @Moz

Tom heads up the Search Science team at Moz, providing research and insight for Moz’s next generation of tools. Previously he headed up the London consulting team for SEO agency Distilled, and worked as a chef in a roadside grill.

Wil Reynolds (he/him)

CEO & Vice President of Innovation, Seer Interactive
@wilreynolds | @SeerInteractive

Wil has been leading the charge to leverage “Big Data” to break down silos between SEO, PPC, and traditional marketing — pulling together data from various sources to see the big picture.

Meet the emcees

Cheryl Draper (she/her)

Event Marketing Manager, Moz
@CherylDraper | @Moz

Melissa Rae Brown (she/her)

Learning Team Manager, Moz
@Melissa_R_B_ | @Moz

Ola King (he/him)

User Researcher, Moz
@justolaking | @Moz

From fan favorites to fresh faces, it’s a pretty great start to what’s sure to be the best MozCon yet! We’ll have even more incredible speakers to reveal, including our community speaker lineup, in early 2023.

But don’t wait to snag your tickets! Save up to $600 on MozCon 2023 now with Super Early Bird pricing.

Grab your Super Early Bird tickets!

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