The use of part-time tellers appears to be shrinking, and credit unions and other financial institutions lose $2,204 every time one quits, according to a new study by scheduling-software company FMSI.
The study of more than 15 million teller transactions at more than 2,300 financial institution branches in March 2016 found that part-time tellers now work 27% of all total transaction-processing hours. That number was as high as 33% in 2010.
The study also found financial institutions incurred $652 of separation costs for things like time spent on exit interviews, paperwork processing and higher unemployment taxes, as well as $508 on replacement costs such as staff time spent on interviewing replacements, aptitude and drug tests and advertising job openings. Training replacements added another $284, and pay differentials, vacancy lags and time lost to the learning curve added $760.
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