In: Finance
The National Bank and Trust Company
The National Bank and Trust Company currently employs approximately 1,100 employees. It presently has fifty branch offices
*- located throughout the metropolitan area, each of which employs approximately fourteen individuals (Four supervisory personnel and ten tellers or clerical employees). The bank expects to add ten branch offices during the next twelve months, twelve the following year, and sixteen in the third year. Branches within the bank differ considerably in size so the figures given above represent averages.
During the past month, the bank has placed an order for thirty automated teller machines which will be placed in its old branch offices. These machines are scheduled to be in operation December 31, one year from now. The bank has found that for each new machine purchased, one fewer teller is needed, on average.
During the past few years, the bank has experienced very high turnover at it branches (approximately 30 percent for tellers and clerical employees and 20 percent for managerial personnel). Turnover at the bank’s main office (headquarters) has been about 10 percent. The bank expects that these rates will continue the next three years.
Answer questions with steps you would take in the process to find the answers to the questions asked about turnover and total employees.