Building a framework for performance excellence—and ultimately a world-class credit union—involves taking six key steps, says Walter Jankowski, consultant/trainer at Reinvention LLC.
Drivers of performance excellence, he says, “start with leadership, strategic planning, and a member focus.”
Jankowski, speaking at CUNA Mutual Group’s recent Performance Excellence in Credit Unions Conference, cites these six steps for performance excellence:
1. Clarify the strategy
Set your credit union’s direction with critical strategies and action plans, and check your progress along the way.
This can include laying out the strategic plan in a one-page “road map” that identifies goals, values, and where the credit union wants to go, as well as a separate timeline with dates, cost, and deliverables.
Monthly or quarterly progress checks are key to providing accountability, Jankowski says.
2. Document members’ needs
Determine what members want, expect, and prefer, and find a way to measure satisfaction.
3. Document core processes
Clearly define, design, implement, and manage all systems and processes.
This will allow your credit union to make changes that improve performance and clarify employees’ roles.
4. Develop performance measures
Collect and analyze data to track performance and develop improvement plans.
Track member satisfaction, product and service quality, staff performance, and financial performance, and share that information with staff to drive results.
5. Develop goals
Use your data to identify and create performance goals, and develop strategic plans to achieve these goals.
6. Manage performance
Establish a disciplined execution plan—including a project plan, project success measures, a communication plan, and a cost benefit analysis—to achieve success.
Throughout this six-step process, Jankowski says it’s critical to track, update, and provide regular status updates of projects.
Don’t set a goal and forget about it, he advises. Checking in regularly to see how teams are progressing toward their goals allows leaders to make changes to achieve success.