Wasted labor expense is one of the biggest threats to profit margins in branches and call centers.
Staffing operational costs, which typically account for 70-80% of a credit union's budget, can be severely affected by under- and overstaffing, according to a white paper by St. Louis-based workforce management vendor Pipkins, which provides staffing software for the $60.4 billion Navy Federal Credit Union in Vienna, Va.
At the branch level, cooperatives that don't refine staffing strategies can also incur significant and costly inefficiencies as transactions drop with members shifting to other channels.
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