The volume of teller transactions is experiencing historic decreases, while the cost of salaries and benefits keep increasing. Over the past 27 years, the banking industry has witnessed a costly combination of steady labor cost increases and continued declines in branch traffic.
- Average branch monthly volume of teller transactions has declined 41% since 1992
- Salary and benefits hourly pay rate has increased 112% since 1992
- The average teller processing labor cost per transaction has increased a staggering 163% since 1992
If you’re looking to gain insight into how you can maximize the value of your branch in this critical, changing environment, download the full Kronos FMSI Teller Line Study.