An effective employee incentive program centers around transparency--explaining to front-line staff how credit unions make money, establishing clear goals, and posting individuals’ progress toward those goals, says Julie Ferguson, owner of JRF Consulting Services.
“A lot of credit unions say to me, ‘I don't post results because I don’t want to make [underperforming] people feel bad,’” Ferguson says. “Why not? It will either raise their level of performance, or they'll self-select out. All you’re doing is raising the bar.”