ATLANTA–FMSI, a provider of workforce optimization solutions, has named Credit Union of New Jersey (CUNJ) as the 2015 winner of its annual Operational Excellence Award. FMSI's Operational Excellence Award recognizes the “best of the best” amongst its client base, including financial institutions all across North America, the company said.
“We have a simple but powerful mission statement, which is to help people improve their financial lives,” said Martin Sofronski, AVP Member Services of CUNJ. “We’re all proud of the value we created for our members through the many different initiatives and programs implemented in 2015.”
With the help of FMSI’s forecasting and staff scheduling solution, CUNJ has taken their labor cost per teller transaction from $1.06 to $0.96—resulting in significant aggregated annualized labor cost savings, the company said.
“FMSI’s solution provides us with forecast reporting we need to always have the right number of staff to adequately cover peak traffic times in the branch, along with minimizing an excess number of staff scheduled during downtimes,” said Sofronski.
Additionally, an important factor in their workforce optimization (WFO) strategy was to use FMSI’s sophisticated scheduler to assign meaningful tasks during forecasted lulls in member traffic, the company said
From functional tasks such settling the ATM and scanning checks, to more elaborate activities such as specific team members participating in table days (marketing events) or sales and service training, CUNJ utilizes FMSI’s system to get the most out its staffing resource, FMSI reported.
Among the benefits:
- CUNJ converted a low volume branch into a location focused heavily on onboarding activities. Providing relief to their busier counterparts at other branches, the employees at this lower volume branch perform all the required outbound calls for the entire institution—as they conduct coordinated day 4, day 30 and day 60 slotted follow-up calls, to each new member.
- Another perennial standing goal, and a distinction they are very proud of at CUNJ, is to provide exceptional service to their members.
While maintaining high levels of service in 2015, CUNJ reported it has also made considerable gains in staff productivity with the help of FMSI’s Omnix Staff Scheduler™. Perhaps a metric that is the most telling of their staff productivity gains is the FMSI provided Excess Waiting for Work Percentage. They have experienced this critical number being cut in half—now resting at an impressive 13.5%. Additionally, their most recent Optimal vs. Actual Staffing figure is a third of what it was when they started working with FMSI.
Below, FMSI SVP of Sales Matt Hertel presents the 2015 FMSI Operational Excellence Award to CUNJ's President/CEO Andrew Jaeger (left) and AVP, Member Services Martin Sofronski (middle).