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FMSI CEO Publishes Article in BAI Banking Strategies About ‘People Process’

February 13, 2013

By W. Michael Scott

February 4th, 2013
BAI Banking Strategies Article: The ‘People Process’ in Branch Productivity

From the article:

“With many financial institutions (FIs) facing another year of declining average retail branch transaction activity and rising payroll costs (40.2% and 76.1%, respectively over the past two decades, per FMSI’s Annual Teller Line Study), upper management in most companies is actively seeking ways to reduce branch expenses, increase sales or both.
Labor, of course, is usually the biggest expense for any branch, and it is one that is largely overlooked as a place to reduce costs and increase productivity. We have written previously about how FIs can reduce expenses by optimizing teller schedules, especially using third-party tools that harvest and analyze transaction data to identify areas of payroll opportunity. However, improving “people processes” – changing the way your staff works, thinks and performs, can be just as beneficial for the bottom line.”
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