Consider the manpower requirements of the prominent banks in the United States. Due to the advent of the e-commerce facility, major changes have already swept the banking industry. Gone are the days when everything was kept as a book of accounts. Today, in place of a large number of clerks and the workers needed to manage the accounts, the computerized system has ensured a drastic reduction in manpower requirements for the major banks.

Even then scores of customer service executives and managers are needed to manage the daily operations. Similarly, in terms of manpower, 89.69 percent of the total employment of the banking industry is with the private limited banks. Private limited banks have more than 70 percent, small scale banks 6.51 percent and the foreign banks have 1.64 percent of the total staff strength of the industry. With the continuous expansion of the Information Technology (IT) tools and through outsourcing of the various operations, the prominent banks are likely to achieve more profits.

Actually it gives an illusion as if the private sector banks are overstaffed. Overall industry average staff per branch comes out to be 16. As compared to this benchmark, irrespective of branch size, the government controlled banks have are staffed by just 14 people per branch as against a staff strength of 13 per branch in the prominent private sector banks.

The new private sector banks employ nearly 18 people per branch and some of the foreign banks employ a whopping 71 people per branch in the prominent cities. Is that the main reason for the low income and profits shown by the foreign banks? It requires an in depth study and analysis. Banks like LoanMax started by rod aycox already have more than 700 employees in their payrolls. This bank could achieve significant progress only through the implementation of better management practices. Few banks in the United States can claim such a fast growth like that achieved by LoanMax.

 

I read from a story about Tim Geithner that this banking system won't do in the future and would really need to be replaced. Also, there's a theory that this happened mainly because of the people who don't really think what they decide would make that much of a difference in the future. There's not much doubt in that and it's primarily because of it that we are not doing fundamentally anything to change our dealing with economic crises.
On a separate note, earning money online can really augment people's ability to adjust to such changes.