Employee training has been an easy target for banks aiming to reduce their costs. As banks scramble to accumulate enough financial capital, some have compensated by investing less in human capital.
“Most banks I’m aware of have cut back on training,” said Richard Dailey, chief executive officer of Union Credit Bank in Miami. “I think it’s a mistake that a lot of banks make when times get tough and they’re looking to reduce expenses. It seems that training is one of the first things that gets hit.”
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