It’s been planned since June this year and it seems it has reached a point of no return.
Approximately 4500 jobs are lost this year the banking industry and for 2019 it may increase still to 10 000 job losses. The ordinary clients of this industry have been nurtured to except to make use of mobile banking approves, and ATM’s.
We have been encouraged to make use of advanced technology since less banking fees apply. How many times are you greeted by friendly personnel advising you to make use of banking approves or ATM’s because it’s cheaper?
We are unaware that they are encouraging non-humans to take their job. The human faces are getting less on each visit to your nearest branch.
Industries are paying third parties huge amounts to service machines that are not working. A good example is when you want to deposit money and the machine is full. Do we ever ask how much banks are paying for these toys that inconvenience us when it’s out of order?
Why can’t that personnel be trained to use these machines? To service them creating a job for that friendly person greeting you so nicely and advising you to make use of these things.
These industries were aware of the advancement of technology and failed to get a solution for so many job losses. Why not training their own personnel to do the work of third-party contractors? Why did they create third party expenditure at all? Security ain’t an issue since they could have decentralized some personnel to other offices than the branch we are visiting.
SASBO’s banking sector national strike seems to be happening due to the failure of a moratorium of job losses. The crisis may have been prevented if banking industries were able to meet the challenges ahead.
Finally, there is nothing wrong with embracing new technology, but we need to be able to step a notch up. Knowing we are facing advancements in technology should pave the way to train our personnel in new fields of expertise to keep abreast of the challenges. Creating new jobs rather than having to deal with job losses.
Are we able to create new jobs within the banking industry to minimize or even eradicate job losses?