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For Senior Management, From Senior Management – December 2011 Edition

December 5, 2011

W. Michael Scott – President/CEO of FMSI

The snow is falling, the holiday season is here, and the year is winding down.  This is a good time to reflect on the year’s accomplishments and to set goals for 2012. Here are some thoughts to ponder:

1. Did your branch transaction activity increase or decrease this year compared to last year and the last five years?  The 2011 FMSI Teller Line Study shows the credit union and community bank industry branch volume dropping by 18% and 26.7% respectively over the last five years.  How will you address this ever decreasing volume with your staffing levels?

2. How does the number of tellers you hired this year compare with your TMS reports on the FTE overage or shortage number to meet your performance goals?  If we are overstaffed, and we continue to replace people as they leave, aren’t we perpetuating our low productivity levels?

3. 2011 Low Transaction Volume Branches, An Overlooked Opportunity is a 2011 FMSI white paper discussing the surprising savings opportunities hidden within these low volume branches.  Could the uGenius Personal Teller Machines (PTM) be the new technology that will assist in lowering your operating expenses for the future?  Call Meredith Deen, FMSI EVP, at 770.362.1155 to learn more about this new technology.  With the numbers from your TMS reports we can project your needs and savings opportunities associated with PTMs.

4. Is your branch staff being used an appropriate amount of time to process the functions for which they have been hired?  The 2011 FMSI Teller Workforce Utilization (WFU) Study discusses this important topic and how financial institutions range from 54% to 86% of their paid time in actually processing transactions.  Where does your institution’s WFU stand?  Do you set the expectation for your part-time tellers to be processing transactions 90+% of their paid hours?  They certainly can if you have them scheduled during peak-times.  However, if they are at a WFU of 50% – 60%, that may be a flag to suggest further investigation.

5. What is really happening on your lobby side of the branch?  Who is doing what, and what part of their day is being spent on service work versus selling new products?  How long are your customers/members waiting to see a service representative?  Are your managers alerted when someone is waiting too long in your lobby?  It is 2:00 PM, do you know what products have been sold today and at what branches?  Would your sales improve with accountability and recognition tools like the FMSI Lobby Tracking System?

6. What are your Contact Center productivity levels and is your staff being scheduled based on activity levels, or just to payroll?  FMSI is providing our clients with insightful performance management information via The ContactCenter Management System.

These six topics may provide valuable insight to you on achieving reduced operating expenses in 2012 and in providing actionable decision support tools for your use in managing your institution.  To find out more about these and other products, contact your FMSI Client Services representative and schedule a webinar demonstration and learn what is available for your toolbox.

 

 

 

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