Organizations with high engagement rates are 78 percent more productive and 40 percent more profitable than disengaged organizations1. Top employers realize that engaged workplaces begin with a recognition-rich culture, and this is where the Credit Union ONE Employee Success story starts.
Serving members for 75 years, Credit Union ONE has been committed to providing exceptional value across a complete portfolio of financial products, and continually strives to provide services that are convenient, affordable, and dependable.
In a recent Achievers webinar, Ayren Hurst, Director, Knowledge Management and Katie Cummings, Senior Education Specialist from Credit Union ONE revealed how their company created a culture of recognition to amplify the key behaviors that impact their business success.
In 2010, Credit Union ONE began their journey to improve employee engagement. Since engagement scores were low, the company’s board of directors set a strategic goal to have an engaged staff by 2013. In response to their board mandate, Credit Union ONE attempted to create an engaged workplace by giving something back to the employees, starting with offering different rewards for employees that ranged from ad hoc gift cards to extra time off. Although employees appreciated these gestures, Credit Union ONE had no way to connect this initiative to business objectives. Additionally, Credit Union ONE did not have the resources to create an online program available to employees 24/7.
After 18 months of research, Credit Union ONE decided they wanted some expert advice when it came to driving their employee and business success. Credit Union ONE partnered with Achievers in 2011 to design, plan, and implement a recognition solution tailored to drive their business success. The company gained best practices around change management strategies involved in a successful launch, and learned what it takes to secure executive and manager buy-in for launching, funding, and sustaining successful recognition programs.
- 99 percent of Credit Union ONE is active on the recognition platform
- In the first two weeks, over 1,200 recognitions were sent
- 100 percent of managers have used the program to recognize their team
- In just under 8 months, the average number of recognitions received by an employee is 31
To learn more about how Credit Union ONE created a recognition-rich culture to drive engagement and positive business results, view the on-demand webinar recording here.
What is your greatest challenge when it comes to employee recognition? Let us know in the comments below.
- “Hewitt point of view: What Makes a Company a Best Employer?” Hewitt and Associates. 2009. Web. 8 Apr 2013.