ba 352 rewards project[1]
TRANSCRIPT
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