Is Your Bank Effectively Preventing Staff Turnover?

by Lou Farrace on Apr 9, 2024

1:01

High turnover among relationship managers can negatively impact small business banking customer satisfaction.

Managing Staff Turnover in Small Business Banking

The Domino Effect of Turnover in Small Business Banking

The potential for attrition increases significantly among small business banking customers who report having more than one relationship manager in the past 12 months.

In 2023, 33% of small business banking customers indicated that they had more than one relationship manager in the past 12 months.
Branch closures significantly increase the likelihood of customers having more than one relationship assigned in the past 12 months.

High turnover rates not only disrupt continuity but also erode customer trust and loyalty, ultimately impacting the bottom line. Do you know which things are most impactful in mitigating dissatisfaction with turnover?