Bank of America: Online Banking
The Bank of America is one of the largest banks in America with an international presence. In terms of the asset base, the bank is the second largest in the United States of America. With the emergence of information technology, the bank introduced online banking affording the customers real time opportunities to transact business over the online platforms. However, the implementation of the online banking system has been plagued with a number of challenges occasioning a performance gap in the overall organization. One area that needs improvement relates to the training of the employees on the online applications. In this paper, a training program for the improvement of employees shall be developed and discussed.
The objective of the Bank of America, in relation to online banking, is to enable every client access services with efficiency and efficacy without unnecessary inconveniences. In addition, the bank aims at reducing the time spent in physical interactions by allowing for virtual interactions where clients simply transact by a click of the button. In order to achieve these objectives, the bank introduced online platform options such as manage accounts option, pay and transfer option, budget and track option and enrolling for online banking option, among others. Despite the user-friendliness of these platform options, the need for employee support in the utility and consumption of these services is inevitable. In that context, it is essential to train the employees well to enable the elimination of the performance gap.
In developing an effective training program, some factors need to be considered and incorporated. Some of these factors inform the subject of the ensuing discussion. An effective training program should be inclusive. This means the program trainers should conduct an employee engagement survey that takes feedback from the employees. Some of issues to be taken during the employee engagement survey include the knowledge gap of the employee, the organizational inconveniences, the employee opinion on the organizational bureaucracy and the analysis of the employee understanding of the organizational objectives. All these aspects would be necessary in developing the content of the training program. It is critical to have an appreciation of the extent of employee knowledge on the use of the online banking platforms. This is because in order to achieve the performance anticipated, a thorough knowledge of the online platforms by all the employees is desired.
Another factor worth consideration is the organizational design and configuration. The organizational bureaucracy need to be designed in a manner that affords the employees an opportunity to exercise some level of discretion. The training program need to highlight the discretion afforded to the employees. Generally, discretion has an effect on the overall contribution and performance of the employees. This is because an employee with more discretion feels challenged and compelled to perform as opposed to an employee with a limited level of discretion. In designing the training program, it would be critical, therefore, to incorporate aspects of discretion afforded and ensure that the training effectively showcases the discretion conferred upon the employees. It should be communicated to the employees that such discretion comes with an added expectation of performance.
Another area worth training on relates to communication. In the Bank of America, the typical communication channels embrace the hierarchical structure where information is conveyed from top to bottom and bottom to top following the hierarchical structure. However, the online platform does not require this unnecessary organizational bureaucracy. On the contrary, online platforms require immediate and fast feedback so as to solve the issues at hand and ensure the end user is served without delays. This calls for the flattening of the communication structure. It borrows heavily on the Peter Drucker model of work arrangement in which the structures remain flat and the groups are led only by temporary leaders. This aspect needs to be introduced in the Bank of America if efficiency is desired.
Therefore, the development of the training program would be elaborate and inclusive in nature. It shall seek to incorporate the objectives of the bank while equally remaining alive to the challenges employees face during the dispensation of their duties. In that context, the training program shall seek to equip the employees with additional knowledge and content that is intended to make their delivery more efficient and efficacious. With the paradigm shift towards technological applications, it is equally essential to equip the employees with modern technological competence. However, it is notable that technology keeps changing and it would be necessary for continuous development programs for the employees to be incorporated.
The training program would, therefore, be concentrated on the employees charged with managing the online banking platforms. It would involve informing them of the technical operations of the online platforms and the available options for the solution of the on the job matters. In addition, the program would involve acclimatizing the employees with the flattened communication structures so that they are able to facilitate immediate and fast communication by employing the flat structure. Lastly, the training shall address all the issues that arise from the employee engagement surveys especially in relation to the knowledge gaps discovered, the organizational design and bureaucracy concerns and any other arising matters. One connecting thread across all the activities during the program shall be the inclusion of all parties. To that extent the participation and contribution of the employees shall be welcome whether it is complimentary or critical of the training program and or the organizational managers.
With the foregoing, it is anticipated that the Bank of America performance gap shall have been addressed. The issues commonly faced in the implementation of the online banking platform applications shall consequently be tackled effectively by the trained personnel. In addition, the employees shall be aware of the discretion available to them and consequently apply the same as and when the need arises. With the changes in the communication channels, the employees shall be able to pass messages faster and immediately thereby reducing the reaction and activity times. This shall commute to effective and efficacious services. It is the postulation of this paper that this training shall have improved the performance of the employees relative to the implementation and maintenance of the online banking platforms of the Bank of America. It is instructive to note the need for continuous training and development in aspects of technology given the dynamism involved and the need to keep employees knowledgeable in the developments in the market.
In conclusion, this paper supports a training program intended for the overall improvement of employees and especially in relation to matters of information and technology which are the driving factors towards prosperity in the modern industry.
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Bank of America. (2013, September 12). Online Banking . Retrieved December 11, 2013, from Bank of America: https://www. bankofamerica. com/onlinebanking/online-banking. go
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