Over the past 25 years, the banking industry has witnessed a costly combination of steady labor cost increases and continued branch traffic declines. Average monthly volume for teller transactions is down 34.2 percent since 1992, while teller labor costs for the same period have risen a staggering 147.9 percent, forcing financial institutions to respond.
The FMSI 2017 Teller Line Study highlights transaction volume and teller processing labor costs and shows how banks and credit unions are responding.
By analyzing transaction volumes, pay rates, labor costs per transactions, and part-time employee utilization, institutions can gain insight into how they can maximize workforce optimization and reduce operating costs.
You’ll see how branches are evolving and identify issues that executives and frontline management are facing, including:
- Assessing the impact of mobile and online banking
- Taking a closer look at the sales-centric branch
- Reviewing the trends on transaction analysis
Download this informative study to learn how you can respond to declining branch transaction rates, rising teller labor costs, and reduced workforce productivity with human capital management scheduling and optimization solutions that allow you to get the most out of your branches.