Alpharetta, GA (PRWEB) January 31, 2014
FMSI today released its Workforce Utilization Study. The FMSI Study is based on a compilation of transaction and labor statistics, built from financial institutions all across the country. This year’s study indicates an increased focus on workforce utilization practices in banks and credit unions.
“We are in a unique position in that we have access to data comprised of more than 10,000 financial services employees from over a thousand financial institution branches,” said W. Michael Scott, President/CEO of FMSI. “Our Workforce Utilization Study compiles this valuable information and presents it in trend charts, allowing the analysis of industry branch staff utilization at an aggregate level.”
The study includes real data pulled monthly from HR systems and community bank and credit union core systems. The resulting trend charts provide information about front-line staff activities, including transaction processing times, task times and idle time, and enable financial institutions and others to:
- See detailed industry insights about workforce utilization in the retail branch environment.
- Get benchmarking data on actual front-line staff performances.
- Determine the effectiveness of current scheduling practices.
“We are the only ones in the industry that have access to this type of aggregate information,” added Scott. “The detailed study reveals an increase in workforce utilization practices, of which senior management at financial institutions should take note. With transactions dropping and staffing levels remaining the same, the inevitable outcome is costly improper scheduling in the branch environment.”
Copies of the FMSI Workforce Utilization Study are available to the media upon request, and the data contained in the study may be used freely in articles provided credit is given for its source.