Lost time is costing you (a lot of) money

Time is a precious commodity. When an hour ticks by, it’s lost forever. At least until Elon Musk creates a working time machine. In the workplace, those lost minutes can be accounted for in dollar signs and productivity. Context switching and cumbersome data access are two of the biggest time wasters in any financial institution. Let’s take a look at those minute-melters and how your credit union can improve productivity as well as employee and member/customer satisfaction.

What is Context Switching

Hours are wasted every day when an employee is pulled in ten different directions thanks to instant communications, notifications, and a multitude of other distractions. Those diversions, moving from one task to the next, are called context switching.

According to the American Psychological Association, context switching can reduce workplace productivity by up to 40%. Fortune Magazine found that many U.S. workers check their email 74 times and receive 46 notifications every day. In addition to reducing the time an employee spends doing their job, those jumps between tasks can make employees feel like they are always behind, less appreciated by the company/organization, and can cause mental exhaustion. Not even a venti, triple skinny, pumpkin spice extra-hot, extra-pump latte can fix that. (Yes, that’s a real drink. Go order it. We dare you!)

Other side-effects of context switching include a 70% reduction in team engagement, from research done by Gallup. In the same study, titled “What is Employee Engagement and How Do You Improve It?”, organizations that attempt to limit context switching have enjoyed 147% higher earnings overall.

Context switching happens at every financial institution and company in the world. That includes yours. Making changes to promote digital well-being can help limit the effects. By allowing employees to use their phone and/or computer’s do-not-disturb feature for an hour or two each day can greatly reduce lost time and increase productivity. Automating routine tasks, as well as finding ways to batch notifications to deliver hourly instead of instantly, can provide a lot of relief.

Another way to reduce lost time and increase productivity is with a robust, right-fit CRM (Customer Relationship Management) system. A CRM can help end time wasters, such as the dreaded ALT+TAB.

ALT+TAB is Wasting Your Time and Money

Every time one of your people switches between software, apps, and screens to access specific data, productivity is reduced. Additionally, their concentration will shift. Yes, those swaps may be quick moments, but those seconds add up. A CRM is the answer!

According to research done by Hindustan Times, those switches between apps and software can account for 47 minutes per day per person. That’s nearly four hours a week of lost time and productivity. All because of an ALT+TAB!

It’s not just productivity that’s taking a hit. The same study found that 63% of employees who deal with these constant data switches find it to be extremely frustrating. Can you say, disgruntled?

You Need a CRM

While it can be challenging to limit context switching, you can reduce the time spent between apps and screens when working with member/customer data. CRMNEXT has all the answers and help you need.

A good CRM allows you to integrate and optimize your entire organization within one platform and on one screen. Yes, you read that right — ONE SINGLE SCREEN! That kind of optimization can increase employee productivity, sales turnaround times, and improve service interaction times.

CRMNEXT Eliminates the Alt+TAB=LostTime

Discover what the credit union CRM designed by financial industry veterans can do for your credit union. CRMNEXT can help with automated tasks, real-time data access and more. A lot more! CRMNEXT customers report a 60% increase in employee productivity, 80% increase in sales turnaround times, and a 90% reduction in service interaction times.

CRMNEXT is an all-in-one one-stop app for credit unions and their employees that can help alleviate pain points and, by doing so, contribute to your bottom line. Schedule your free demo today!

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