Bankers, Tellers, and Phone Bankers are often found experiencing financial hardship due to low wages and stagnant raises. The question is, is this something that is beneficial for customers or the bank? Would customers be comfortable knowing that the bankers who oversee their account requests are living in poverty with accounts constantly overdrafting? On the bank side, can we really be surprised there is a small percentage of fraud that takes place when employees can't make a living on the wages provided? When I conduct research for my group I just see over and over that employee's in those roles are experiencing financial hardship and was curious.
5 replies (most recent on top)
AI will replace them all in a couple years anyway.
So what is your solution @OP? Socialism and pay everyone the same flat wage? Take all of Sharts salary and give each employee $150? Financial impoverishment is a mindset. When did it become anyone else’s problem beyond the individual facing it?
The only sensible thing to do would be to offer financial education courses and guidance on how to fix issues. Or fire an employee who is unable to manage their finances if they refuse education and counseling services. That removes the insider threat
You take someone who wants to exceed, give them $15/hr and you will watch them reach their goals.
Take a lazy or entitled person and give them $50/hr and watch them do nothing but somehow remain broke.
It’s the same bs as buying a bigger house just to spend more filling the empty space with stuff or all the foolish lottery winners who aren’t capable of turning the windfall into long term if not generational wealth.
@ay they can go be a teller or an ops person at another bank making the same or even less money.
I’ve brought this up with leadership and HR in person, via email, via calls, and via ethics line submissions and they really do not care about risks to the customer due to poor employee treatment. They do not want to talk about it and get hostile when it’s brought up. If you can’t solve the issues you have with the company, the company doesn’t treat it as an issue
They can always find another job. Don't they get paid at least $22/hr?