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One major reason why workers are stressed at work is a lack of confidence in their jobs. Many people could be worried that they are doing something wrong or overlooking an important step. As a result, they lose focus, morale drops and your bottom line suffers.In an article for Entrepreneur magazine, contributor James Parsons outlined a number of ways to keep employees on track. Two include:<ul><li>The right tools – Your employees will need to have the right tools in order to succeed. For example, cash recyclers will streamline the teller experience. From a customer perspective, this means quicker service. They will be happy, your tellers will be happy and you’ll be happy.</li><li>The right training – You also need to properly train your employees. Workers who are confident with their skills will be more comfortable on the job, and this will trickle down through all areas of your bank branch. It is up to you, however, to ensure that training is provided.</li></ul>Given the importance of proper training, especially in today’s financial services industry, here are four simple tips to improve your bank branch:“Train your employees on the skills they need in the workplace.”

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A stress-free, enjoyable work environment

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You can train your employees in a number of different ways. Each one isn’t universal, though, and you’ll first need to determine which skills are best suited for each worker. For example, a banker will need to have good listening skills to help customers. A teller, on the other hand, will need to have strong math skills. As you begin training, make sure each employee receives the training that he or she needs for their specific jobs.

1. Focus on the proper skills

Learning skills in a classroom is great, but it doesn’t always help when it comes time to apply that knowledge to the branch floor. To prevent problems here, work on translating those skills into the real world. Create scenarios where employees can practice their training. Run through examples and have workers try out different roles. This will help them get a grasp on how things can play out with real customers.

2. Translate skills to the real world

In many cases, your employees will know more about branch problems than you do. They have first-hand experience with the bank day-after-day, and that can mean a lot during training. “Allow your workers to take control of their own training.”​YFS magazine spoke to a number of business leaders about training, and learned that having employees teach themselves – and have a more interactive role – can be beneficial.“I don’t look for people to fill a particular position as much as I look for a person who I believe will bring value by bringing something new to the table,” Clayton Cohn, chairman, president and CEO of Marketaction, Inc., told the news source. “If someone is bright and motivated, then I like to let them think of ways they can contribute and choose one that is not only helpful to the company, but one that they like as well.”

3. Let employees take charge

Finally, you’ll want to monitor your employees’ progress following training. You should ask questions to see if everyone understood what was discussed, and observe workers as they go about their daily routine. The modern bank branch is evolving. Workers are now being tasked with performing multiple roles, and the need for comprehensive training has never been greater.If you want to ensure your bank remains profitable today, then train each of your employees to be up-to-date and knowledgeable of current trends, tools and technology in the industry.

4. Track their progress

A stress-free, enjoyable work day is a key step toward a productive business. However, not enough companies are able to keep their employees relaxed and happy, including bank branches.

4 simple tips to better train your branch employees

A neat bank is not the same as an organized bank, but it is a good place to start. Take a look around the branch and see if there is any useless clutter lying around. You could have gathered too many documents, office supplies or even trash that has simply yet to be removed. If so, clean up the bank and ditch all that clutter. This will provide you a clear starting point for improved organization.

1. Clean up

Your next step should be an inventory of all your important bank documents and supplies. What needs to be organized?Make a list, and keep in mind of few important elements:<ul><li>What needs to be accessed everyday?</li><li>Who needs access?</li><li>Where do items need to be stored?</li></ul>Ranking everything based on importance and priority will help you determine the best location to store items throughout your bank.“Organization will spare your bank plenty of headaches.”

2. Take inventory

After this is complete, you can talk to your team about the importance of organization. Even the best strategies can be undone by employees who aren’t on board, so make sure everyone is working toward the same goal. Hold a meeting where you go over the organizational strategy and discuss ways that each person is responsible. This will help ensure that everything stays on track beyond the initial startup phase.

3. Get the team on board

The last step is perhaps the most important: technology. The right tech can make all the difference for your organization.For starters, look for ways that you can go paperless. This means converting paper documents and records into their electronic forms. Once on a computer, you can remotely store and access files a lot easier than a traditional paper system. Closely tied to this is cloud computing, which you can use to share information between different devices and employees.Organization can also be improved via greater efficiency. One example is the cash recycler, which tellers can use to count, sort and store cash. This speeds up the cash-handling aspect of the job and bolsters security. It will also allow you to have a better grip on your money.Overall, the right approach to organization can improve branch productivity, streamline your operations and make your life a whole lot easier.

4. Leverage technology

There is something to be said for an organized bank branch, and even if it looks neat and tidy on the surface, your employees will greatly benefit from a detailed, well-maintained and organized system behind the scenes. An organized bank branch can be achieved in a number of ways. Here are four quick tips to get started

There is something to be said for an organized bank branch, and even if it looks neat and tidy on the surface, your employees will greatly benefit from a detailed, well-maintained and organized system behind the scenes. An organized bank branch can be achieved in a number of ways. Here are four quick tips to get started:

4 quick tips to better organize your bank branch

“Cash handling is paramount in the retail industry, particularly as competition and desire to differentiate via customer experience increases,” explained Hauser. “Focusing less on payment management and more on customer engagement is critical to developing loyal customer bases.”So then, what can happen with poor cash handling? Here’s what to know:

Why cash handling is so important

By definition, “cash handling” refers to the process of receiving and giving money in a business. In a bank, this includes teller transactions and ATMs, just to name a couple of examples. In retail, cash handling ranges from the point of sale to the behind-the-scenes money management during the day.<h4>“Cash handling improves efficiency and security.”</h4>Before we discuss the ins and outs of effective cash handling, it is beneficial to know what can go wrong without it. Three common problems in the retail industry include: <h4>1. Lack of due diligence</h4>One of the most valuable reasons for cash-handling procedures is due diligence. Do you know where your money is at all times? Do you know who has access to it – and where it is headed? With effective cash handling, you’ll have these answers. Without it, you could easily encounter problems with bookkeeping, fraud, theft, errors and cash flow, for instance. <h4>2. No paper trail</h4>The second common problem is no paper trail. Cash handling ensures that you know where your cash is and who has access. On the other side, improper systems will make it much harder for you to identify mistakes and rectify errors. This means if you notice a discrepancy in your safe at the end of the day, you won’t be able to track it back to the source.<h4>3. Security flaws</h4>The third common problem is one of security. Cash handling, whether policies or technology, can improve security in your business. You’ll have greater oversight of your money, including who has access, and this will help prevent fraud, theft and breaches. Without cash handling, your business could be more vulnerable from a financial standpoint.While these are just three common problems, effective cash handling will have widespread benefits for your business, most coming from the perspective of improved efficiency, security and convenience.

Common problems in retail

One of the reasons why cash handling can be a bit daunting in the retail industry is due to scope. These processes impact a wide range of systems and procedures, so it can be difficult to track and manage every minor detail. Some of the key elements behind cash handling range from:<ul><li>Physical cash management – How you receive and distribute cash, where you store it and who has access to it.</li><li>POS systems – The point of sale is critical to effective cash management. Make sure cashiers are well-trained and have total control over their respective drawers.</li><li>Payment tracking – All payments, both physical and digital, need to be tracked, monitored and properly stored.</li><li>Paper trail – All receipts, invoices and other payment-related documents must be accurately processed and filed.</li></ul>

The key elements of cash handling

Understanding the importance of cash handling in the retail industry is an important first step. Moving on from this, you can begin to improve your business from top to bottom.Naturally, this all starts with an assessment of your current procedures and practices. Analyze your own policies to look for areas of need. Make sure your internal controls are up-to-speed, and that there are no glaring risks in your cash-management process. Above all else, set a tone in your business. Let everyone know that cash handling is a priority moving forward. Once that is done, you can move on to improving your cash handling.

Where you can begin

Jeff Hauser, a marketing executive and retail market expert here at ARCA, shined a light on a few of the reasons why cash handling is so important.

Why cash handling is important for the retail industry

Cannabis dispensaries use the latest technology and processes to manage product inventory and POS cash in the front of the store to ensure security and accountability. So, why isn’t that same level of scrutiny applied to back office cash management?There are likely a couple of reasons:<ul><li>Businesses underestimate the true cost of manual cash processes</li><li>They often don’t know about the technology and best practices that can transform their back office cash management</li></ul>Cash recyclers resolve many cash management challenges cannabis retailers face while building consistent, scalable practices in the back office that mirror the technology and processes often found at the point of sale.

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Businesses often don’t know about the technology that can transform their back office cash management.

Cash Handling

Cash: the other green in cannabis

Businesses often don’t know about the technology that can transform their back office cash management.

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