Should credit union leaders be concerned about employee turnover rates?
Some credit union CEOs believe retaining employees is an important part of their strategy, while others see turnover as just an unfortunate fact of business that credit unions have to manage. And some CEOs – in regions of the nation where the economy is red hot – agree employee turnover is a serious and expensive problem.
According to CUNA's most recent Turnover and Staffing Report, the nation's credit union employee turnover rate stood at 12% in 2014, which the trade group said it considers low. Despite an improving economy, the turnover rate has stayed at that level for the last three years.
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