Employment prospects for tellers have improved recently. Employment is projected to grow, but more slowly than average for all occupations through 2014. Banks are looking at their branch offices as places to attract customers for the increasing number and variety of financial products the banks sell. As recently as a few years ago, banks were closing branch offices and discouraging the use of tellers in an effort to cut costs, but in a turnaround, banks are now opening branch offices in more locations. They also are keeping them open longer during the day and on weekends, a practice that is expected to increase opportunities for tellers, particularly those who work part time. Most job openings will arise from replacement needs because turnover is higha characteristic typical of large occupations that normally require little formal education and offer relatively low pay. Tellers who have excellent customer service skills, are knowledgeable about a variety of financial services, and can sell those services will be in greater demand in the future.
Despite the improved outlook, automation and technology will continue to reduce the need for tellers who perform only routine transactions. For example, ATMs and the increased use of direct deposit of paychecks and benefit checks have reduced the need for bank customers to interact with tellers for routine transactions. In addition, electronic banking is spreading rapidly throughout the banking industry. This type of banking, conducted over the telephone or the Internet, also will reduce the number of tellers over the long run.
Employment of tellers also is being affected by the increasing use of 24-hour telephone centers by many large banks. These centers allow a customer to interact with a bank representative at a distant location, either by telephone or by video terminal. Such centers usually are staffed by customer service representatives, who can handle a wider variety of transactions than tellers can, including applications for loans and credit cards.