Doing More With Less
Experts say one of the biggest outcomes from the current recession will be leaner companies that run more efficiently with less staff. According to a recent article titled Companies Do More With Fewer Workers (USA Today, 02/23/11), productivity has risen more in the current recovery than previous ones (except for 2001), jumping 3.5% in 2009 and 3.6% in 2010. This is because companies are being forced to find efficiencies through new technology or software, cutting out unnecessary steps, scrapping marginal products or simply squeezing more from existing employees by combining two or more jobs into one position.
Are there processes at your credit union that can be improved? Are your employees focused on the right thing at the right time? Are you able to provide timely, accurate information to your members?
As member preference and the economic and regulatory environment continue to evolve it may feel like there is less and less we can control—so control the things you can control to leave some slack for the things you cannot.
