As unemployment nears historical lows banks, payments processors, and financial services companies face challenges to find and retain high-quality talent. One of the important areas to consider is ensuring employees have the tools and technology that will enable them to be successful.
Check out this recent article in The Green Sheet by our own Lynne Baldwin, President of BHMI, who shares valuable insights about how a modern back-office improves employee retention.
As Marc Badalucco, managing partner of Impact Payments Recruiting, states in this article, “The lack of new technology will always hurt attracting the best talent. Simply put, payment professionals always gravitate to companies that offer innovative services and processes that provide value to their clients.”
In this article, Kimberly Tibbetts, Principal Industry Consultant of Endava added that “Employees using legacy systems take longer to complete their work and have a higher chance of errors. Legacy systems are typically slow to respond which can lead to employee frustration and impact performance since things take longer.”
Barry Tooker, principal at TransactionBanker.com also says that “Upgraded back-office systems ultimately improve the employee experience by streamlining processes, reducing manual labor, and providing employees with real-time data. This empowers employees to make better decisions and frees time to focus on more valuable work. Additionally, modern back-office systems can provide managers with access to analytics and reporting tools, which can help them make better decisions and improve the efficiency of their operations and productivity of their personnel.”