Page 36 - BusinessWest December 22, 2021

Banks
Continued from page 34
businesses thrive again, and now they’re starting to invest in 2022. That’s what we’re counting on.”
Into the Digital Age
While many customers do, indeed, prefer to bank in person, Scully said, one of the big indus- try stories of the pandemic was how custom-
ers who had avoided digital banking options embraced them when they had to — and then
“The fact that there aren’t a lot of employable people out there is taking its toll on businesses. Anyone in a customer-service business is looking for people; it doesn’t matter whether if you’re running a bank or a local coffee shop.”
stuck with them.
“More and more people developed a comfort
level with technology,” he explained. “Many had a fear of the unknown — ‘will my money be safe?’ But the last 20 months allowed people to recali- brate a little bit, and we’re seeing more and more reliance on technology, which is great.”
Country even converted a small branch in the Ware Walmart to an interactive banking office with two interactive teller machines (ITMs). “They can absolutely do anything on the machine. The customer response has been really positive.”
Technology has helped banks in other ways — including combating a workforce shortage that has affected every industry and has not spared banks and credit unions.
“Honestly, it doesn’t matter what business you’re in these days, the fact that there aren’t a lot of employable people out there is taking its toll on businesses. Anyone in a customer-service business is looking for people; it doesn’t matter whether if you’re running a bank or a local coffee shop.
“But that customer expectation still exists
for us, so technology has helped quite a bit,” Scully went on. “Customers during the pandemic became more familiar with doing their banking through technology, and their reduced reliance on coming into the branch reduced some of our traffic.”
At Country, while the banking centers operate five or six days a week with in-person staff, in the back-office areas, employees remain on a hybrid schedule, three days in the office, two remote
— with Wednesdays mandatory for everyone to come in. “That’s more of a cultural thing for us, so folks would still be connected to one another.”
And the hybrid model has worked well, he noted. “We recognized early on, as we started
to look at the reopening process, there are a lot
of benefits to having a hybrid workforce. It’s like 2020 allowed us all to recalibrate, and ask why you’re spending an hour twice a day commuting to the office just to do work you were able to do at
Glenn
Welch says workforce issues have not only affected staffing for banks and credit unions, but have begun to put pressure on wages.
home for a year. We decided, ‘let’s rethink this.’” Staffing has also been a challenge for Freedom,
Welch said, which had to close down a branch or revert to drive-up only on occasion to deal with it.
“We’ve seen other institutions have the same issue. We’re certainly trying to hire people, but
it’s been difficult. People leave, and it’s hard to get people interested in coming in and working. I don’t know if it’s because it’s a retail environ- ment — that’s where most of our openings are, in branches — or it’s just people retiring or finding other things they want to do.”
The crunch has started to put pressure on
wages, Welch added, which not only affects the
banks themselves,
but often doesn’t do Banks
enough to balance Continued on page 38
We’re here for local business.
Tomorrow is already on its way, and our job is to set you up for success. As a local bank, we know what it takes to run a business around here. With personalized guidance and a suite of business products — free checking, online and mobile banking, cash management services and lending — we’re committed to helping your business grow and prosper.
Learn more at bankESB.com or call 855.527.4111
Member FDIC | Member DIF
36 DECEMBER 22, 2021
BANKING & FINANCE
BusinessWest