Joan Moran, President and CEO of Department of Labor Federal Credit Union (DOL), had a problem with payroll processing, especially in light of continuous staffing changes and turnover.
“You can’t mess up people’s paychecks,” Moran said. DOL previously outsourced health insurance and benefits, and retained specific healthcare expertise, so it decided to outsource HR. In addition, the continued payroll challenges distracted the credit union from the core business at hand: helping members.
The credit union was involved with Maryland and DC Credit Union Association for outsourcing HR and first tried cross training employees, but it quickly discovered it needed services beyond payroll. In conjunction with outsourcing the HR management, the credit union also outsourced its payroll processing.
Right away, that first payroll was a significant improvement and had an immediate impact. It greatly reduced the amount of time spent on time sheets, and it streamlined and improved the process. “I wish we had thought of it sooner,” Moran said. Even though the change was invisible to members, if DOL didn’t address the issue, it would have likely seen more turnover.
By outsourcing HR, DOL started focusing on member facing marketing, sales, and technology.
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