Bank physical outlets service process (customer waiting time management) is considered here. Customer time management is fast becoming an issue for branches; because the industry is competitive, and most of the branches are cutting down on staff. The wait management issues are becoming high not only in the bank physical outlet, but also in the case of the electronic viewpoint, this is why when customers do not want to use the given options, they like to directly deal with a customer teller representative.
Now in China, much of the banking industries have started eliminating jobs. This job elimination happens mainly because of the cutting back on expense. A slowing economy has led to many top down reforms and banks like JINXIAN are cutting back on staffing in order to control costs. In the context of the top banks in the industry, it was estimated that 22,260 jobs have been eliminated. What happens in the context of staff elimination is that there would be lesser number of staff to attend to customer needs.
Now the problem unfolds even deeper as there are many more sub objectives in it. Firstly, the banks have to manage operational expenses and still staff their banks such that it presents a consistent wait time. Secondly, it has to measure and monitor wait time in order to reduce it. Thirdly, there are differences in perceived wait time and expected wait time, hence bans have to focus on managing their perceived wait time (the amount of time customer thinks they have waited), and this goes up after the expected wait time. It is at this point that customer dissatisfaction increases. Fourthly, some customers would be more concerned about waiting, while some would like to get other associated service updates during the wait time and would not be as concerned. Now the problem for JINXIAN is to ensure that the strategy for wait time reduction can be met, and at the same time, staffing increase does not happen, thus achieving balance between operational expense and customer satisfaction.