Workforce Management Staff Assessment
A growing number of financial institutions now realize they need some way to manage their largest non interest expense, their labor force. We designed the WFM Assessment to be a quick and low cost way for you to receive outside expert feedback on the overall efficiency and service levels anywhere in your bank/credit union. SSG will provide you with specific service and efficiency enhancement recommendations, best practice suggestions, along with a peer comparison report.
You will be under no obligation to do anything more after the WFM Assessment. However, if you would like, SSG will be to happy to propose a WFM Best Practices project plan to implement some or all of the suggestions made during the study.
Our WFM Assessment deliverables will include the following:
- Graphical reports showing how current branch schedules match up with customer demand. See exactly where the current over and under staffing situations are.
- Recommended new employee schedules with optimized and/or preferred full time, part time, peak time mix.
- Staff and cost impact summaries of the recommended changes.
- Detailed transaction history broken out by transaction type to pinpoint and quantify your high volume exceptions as well as branch hours of operation recommendations. (Available if your transaction system provides data by type)
If you would like, SSG will also provide the following for a modest fee.
- Internal and external benchmark productivity reports by teller, branch, and bank.
- Detailed sales/platform benchmark results.
Top 10 Benefits of a WFM Assessment
- Low cost, non invasive way to measure current scheduling effectiveness and to identify specific labor cost savings and service enhancements.
- Provide detailed FTE and staff schedule recommendations
- Cost is a fraction of onsite consulting or licensed software
- ROI very quick and very attractive. 20-1 not unusual.
- Requires minimal bank resources
- Expert neutral recommendations based on 22 years best practice staff consulting with hundreds of banks of all sizes
- Provide specific blueprint on how to achieve results
- Use of state of the art bank staffing modeling software
- Very quick turnaround
- Guaranteed results
SSG will need the following information to complete the study.
- Transaction data by date, by time, by location, and by type, if available. The amount of historical data provided you provide is at your discretion/capability.(Typically very easy to locate and provide.)
- Human Resource data file including teller names, teller ID’s, pay rates, pay status, location, and job title.
- Additional Human Resource information such as cost of benefits and work rules.
- Branch/department hours of operation.
- Budgeted headcount by location by pay status type.
- Typical weekly work schedules
- List of non transaction work functions.