Causes Of High Bank Teller Job Retention
Causes Of High Bank Teller Job Retention
There are multiple causes behind the problem the bank is experiencing with a high turnover rate among tellers. One primary cause is an inadequate hiring process. The current hiring process is focused on filling open positions and not on hiring qualified individuals who represent the aspects necessary to succeed as a teller. While the bank has standards for hiring tellers, the standards are not high enough to insure only qualified candidates obtain the open positions. Further, the hiring process overlooks the necessity of defining and analyzing candidates’ personalities during the hiring process. A teller position is a position that interacts with the banks most valuable asset, customers, on a daily basis. A teller represents the bank to its customers and has opportunities to sell the customers on additional bank services. A good candidate should be very people friendly and have basic sales skills. Not all applicants will have these characteristics but by analyzing applicants’ personalities during the hiring process, the bank can improve the odds of successfully filling the open teller positions and retaining more tellers. The bank cannot control the factors that make up individuals’ personalities such as hereditary forces, family relationship forces, social class and other group membership forces and cultural forces (126 Text) but it can find candidates whose personalities will better mesh with the teller position. The bank needs a specific individual who represents a specific mix of the Big Five Personality model. The ideal candidate will be very extroverted and like situations with a good deal of social interaction. They will also have high emotional stability that will help them deal reduce the stress levels associated with the teller position. They will be very agreeable so they can develop and maintain good interpersonal relationships. They must be rather conscientious because of the level of organization required with the positions and finally they do not need to be highly open to experience in the stringent well-defined position of a teller (127 text). Currently the bank is not analyzing any of these factors and hiring candidates who vary significantly from this ideal personality mix which causes the poor retention and high job turnover among tellers.
Another cause of high turnover among tellers is the teller supervisor methodology. The teller supervisors do not properly evaluate their employees....