Customer behavior and advances in technology have dramatically changed the banking industry. Simple transactions that previously required teller assistance can now be completed via ATM or mobile device — and customer expectations for this level of convenience are rising. Branches and banks can’t afford to ignore these expectations, especially after years of industry turmoil and loss of consumer confidence.
Despite the growth of self-service and mobile access, there is still value in the branch. A 2016 J.D. Power study showed that as the number of branches have declined in the U.S., they are still considered a key channel for resolving customer problems and completing more complex transactions.1 So although there remains a need for branch staff, decreasing customer traffic means that branch managers must now staff to demand and cross-train “universal” associates for maximum efficiency and performance.
Evolving to this streamlined branch model starts with optimizing your workforce. By hiring and retaining best-fit employees and managing them more effectively, your financial institution will be in a better position to provide a quality customer experience that drives satisfaction, loyalty — and bottom-line results.
Kronos® for Banking provides a comprehensive workforce solution that can help you forecast and schedule your employees to meet demand. With properly staffed branches, customers will be served appropriately, which will in turn lead to more satisfied customers and increased retention.
Inefficient staffing can have a negative impact on the customer experience: long wait times, workers who lack the skills needed to address concerns, or missed opportunities to offer new products or services that meet customer requirements.
Kronos for Banking optimizes employee scheduling, making it easy for your managers to put the right people with the right skills in place to deliver quality customer service. Automated tools and on-demand visibility help you track performance and identify outliers for improved staffing. By comparing the time employees are scheduled against the time they actually spend working, you can generate more accurate forecasts and make real-time assessments of efficiency, productivity, and compliance. These powerful insights drive more informed scheduling decisions and enable you to reallocate idle employees to other tasks such as marketing or customer support.
Happy, satisfied employees inspired to go the extra mile for customers are the cornerstone of today’s new branch model. Kronos for Banking increases worker satisfaction through flexible scheduling and convenient self-service tools designed to empower and engage. Employees can view accrual balances, request time off, update their availability, and more via web, mobile device, or time clock — freeing managers to focus on value-added activities that increase sales and customer retention.
What would it mean for sales and service if you could consistently hire best-fit candidates and improve the
performance of existing employees by even just 5 or 10 percent? Kronos for Banking enables you to identify patterns in the behaviors, skills, and competencies of top performers and use that information to optimize hiring and employee development practices. Better understand the ideal job candidate profile to improve hiring decisions. Determine gaps and take steps to help platform employees achieve their personal best. And put valuable insights to work for building a high-performance workforce that delivers results.
Kronos for Banking helps you minimize risk associated with noncompliance. Accurate, automated tracking of hours worked and leave taken provides a full audit trail as well as visibility into planned and unplanned absences — and how much they’re costing you. Kronos for Banking facilitates compliance with the Fair Labor Standards Act, the Family and Medical Leave Act, and the Affordable Care Act as well as legislative, licensing, certification, and regulatory requirements.
Don’t miss out on a significant opportunity to improve employee engagement and retention, increase operational efficiency, boost profit margins, and deliver a quality customer experience. Let Kronos for Banking help you manage your greatest advantage — your workforce — for a stronger competitive edge in today’s challenging banking industry. Kronos: Workforce Innovation That Works™.