Jan 01 2002

Three Innovative Searches for Better Incentive Programs

To explore ways in which credit unions can use incentive programs to maximize their investment in human resources, the Filene Research Institute co-sponsored a colloquium at the University of California-Berkeley. The event brought together experts in the area of reward systems, along with senior credit union executives and human resource specialists. The results of the presentations and discussions are included here. As the American workforce becomes more sophisticated and technically competent, employers need to pay increasing attention on rewards that will attract and retain qualified staff. At times of relatively full employment, that challenge becomes even more critical.

The three presenters were: Gary Oakland, CEO, Boeing Employees Credit Union, John Tippets, CEO, American Airlines Federal Credit Union, Barbara Davis, Executive vice president, Public Service Credit Union.

Each of the presenters focused on three main issues: 1) What is the underlying philosophy behind the credit union’s incentive plan? 2) How does the plan work? 3) How does management and the board of directors assess the plan?