In recent years, however, commercial bank employment in the city has been declining. Increasingly, Chicago banks are being challenged by greater international competition, rapid changes in technology that call for continuing product and operating innovations, a less restrictive regulatory environment, and important changes in occupational structures and skills. These changes are consistent with the analysis of career-path dynamics discussed in the theoretical literature. In general, it can be said that career paths emerge and are shaped as a consequence of strategic and negotiated decisions made by firms in a particular economic context.
Career paths change as economic circumstances and the relative influence of business firms change.
The preliminary findings were presented to focus groups of bank employers, trainers, workers and policy-makers to review and discuss the implications for bank employers and employees. All four banks identified major non-exempt jobs for which the firm recruits and hires from the outside and provided information on the stated job demands and skill requirements for filling those jobs. Three of the four banks provided anecdotal information on actual career paths of current employees. A certain level of reading, writing and numbers skills was expected, although all four banks indicated that the level of skills evident in today's labor pool was not as dependable as in times past. In terms of the most likely career options available to entry-level workers, the patterns for large downtown banks and small community banks diverge.