Banking executives might learn something from this. As the distribution of retail goods has shifted from store-based to online, the productivity of retail employees has soared. In particular, while goods consumption has risen by a not-immaterial 8%, retail employment has actually fallen slightly. Have a look:
As banks shift their own distribution frameworks to online and mobile from branch-based, they should shoot for similar types of productivity gains. If they can do that, their shareholders will be very, very happy.
Banks’ coming productivity boom?
By Matt Stichnoth,
Banking executives might learn something from this. As the distribution of retail goods has shifted from store-based to online, the productivity of retail employees has soared. In particular, while goods consumption has risen by a not-immaterial 8%, retail employment has actually fallen slightly. Have a look:
As banks shift their own distribution frameworks to online and mobile from branch-based, they should shoot for similar types of productivity gains. If they can do that, their shareholders will be very, very happy.