MADISON, Wis. (December 13, 2011) – Credit union employees in all job classifications are more likely to stay in their positions than they were before the recession, says a new CUNA report.

The overall credit union turnover rate is 12 percent, according to the 2011-2012 Turnover and Staffing Survey. This figure is higher than the 2009 turnover rate (nine percent) and matches the 2008 figure. Prerecession turnover was about 15 percent.

“With heightened competition for skilled employees, it’s important for credit unions to monitor turnover rates,” said Beth Soltis, senior research analyst for CUNA. “This is particularly important when it comes to key employees, but turnover in any department or at any level costs the organization time and money for employee training.”

Hiring levels remain modest at credit unions. The creation of new positions at credit unions dipped at the onset of the recession and hasn’t changed since. The percentage of employees hired to fill newly created credit union positions was roughly five percent from 2005 to 2007. In 2008, 2009 and 2010, three percent of credit union employees filled newly created positions.

“During the recession, most employers reduced staffing levels as low as they could possibly go,” adds Soltis. “This makes it more important than ever for credit unions to retain high-quality employees, especially those in positions critical to their credit union’s success.”

The survey provides turnover and staffing trends, as well as key human resources and operating expenditures. Data is segmented by asset size, region, number of branch offices and other criteria. The included worksheets allow credit unions to make side-by-side comparisons of important metrics, such as turnover rates, with their peers.

For more information about CUNA’s 2011-2012 Turnover and Staffing Survey, click here.