ba 352 rewards project[1]

Dan EdwardsNic ModunKatie CallahanRichard Campo

Jeff KierseyRyan BuntingRose LachowskiAlex Jeli

Employee Rewards and Recognition Program

Introduction• Current reward system• Areas for improvement• Our Plan of a reward system• Questions about new system

Background• OSU Federal Credit Union: Your Community Credit

Union!• Credit unions vs. commercial banks

– Not for profit– Taxation– Ownership– Volunteer Boards– Membership

Current Implementations

• Broad organizational goals• Individual incentives• Branch goals• Recognition

Internal Perspectives for Rewards• Employees like the current system• The prizes are reasonable• Need more input and feedback• More structured system

External Perspectives for Rewards• Restricted feedback

– Creates disconnect with customer service• Disconnection with employee and customers • Lower customer loyalty • Different perception of credit union

Industry Reward Systems

• Wells Fargo

• Bank of America

• US Bank

The Feedback Card

• location• content• Who can fill out• How it works

OSU Federal Credit Union Employee Evaluation Card

Would you allow us to use your Card to be read in a meeting and/or used for an advertisement?

Description of Rewards System• Increased feedback from customers• Rewards for excellent service• Recognizes employees

Benefits Of Rewards System • Increased performance• Higher productivity • Improved quality of work • Motivation • Team pride

Rewards System Benefits

Increased performance

Higher productivity

Improved work qualityMotivation

Team pride

Theoretical Ties• Path-Goal Theory • Positive Reinforcement• Two-Factor Theory• Maslow’s Hierarchy of Needs• The Expectancy Theory

Question and Answer• The floor is open for questions. • We will answer them as best as possible.

Conclusion• Recap of main points

– Our opinion on the system– Why our system could help– The industry’s viewpoint

• Closing statement

Special thanks to Bill Mckinney