Staff retention remains high for credit unions
by. Craig Sauer
Credit unions have avoided an uptick in staff turnover, even as the economy continues to rebound, according to the 2013-2014 CUNA Turnover and Staffing Report.
The overall turnover rate among credit unions with at least $1 million in assets is 12%, similar to annual levels since the early stages of the recession, the report indicates.
Following historical trends, front-line staff turnover (18%) tops the full-time job classifications covered in the report. Turnover rates in other job categories range between 5% and 10%.
The turnover rate for part-time employees runs at 20%, although that sector also produced the largest number of employees filling newly created positions during 2012—representing 7% of the total part-time staff.
Turnover and staffing trends provide a basis for strategic planning, can help identify current skill and performance levels of existing employees, and directly impact labor costs and profitability.continue reading »