Federal credit unions have simple strategies to navigate an uncertain future
Artificial Intelligence: It’s all hands on the deck.
VA-based credit union providing financial services to people connected to
U.S. military, Pentagon or Coast Guard invites all of it
Employees share ideas to improve the business. Also actively
Improve human resources, prepare front-line member service personnel
Provide valuable guidance to credit union members when computer systems take over
Basic tasks such as providing a bank balance.
The ultimately important way is for the Navy Federation to create a sense of solidarity during the voyage
The unknown water of the increasingly high-tech financial services industry.
Navy federal leaders said that despite things getting rough and some work,
You should not disappear for automation and expect everyone to walk on the board. of
None of the 87-year-old organizations have been fired. And it does not plan to
Changing its informal policy, Stacy Keller Williams, Vice President
Company change in the Navy Federation.
Executives at all levels of the organization that continue to talk about it. ”
Keller Williams says. “We are convinced that we will continue on that path
Of finding a place for people. “
Share that confidence. 93% of the Navy’s 21,500 employees
They believe that “management fires people only as a last resort.”
Financial security, Federal Navy employees feel free and motivated
Generate ideas. 84% of employees say organization
“Celebrating people who try new and better ways to do things, regardless
result. “Last year, an idea created by 44 employees from the contact center
Only the division was implemented in the Navy Federation. Some of them were small
Shift with great influence. For example, one employee proposed to have a navy
Display federal bank routing numbers directly on your home page. However,
9 million members of credit unions need to ask customers
Digit service rep.
Navy Federal Ranked # 1 Among KPMG’s US Customers Among US Companies
Experience the Excellence Report for two consecutive years. Or that it is the largest
Global retail credit union sees assets grow from $ 63 billion
In 2015, it reached about $ 113 billion in early 2020.
Annual list of Fortune Best Workplaces in Financial Services and
insurance. Great Place to Work, a global authority on work culture,
We published this ranking in partnership with Fortune.
For the second consecutive year, Edward Jones ranks # 1 in financial category
Service and insurance company with more than 1,000 employees. Rounding
American Express, Baird, and Pinnacle were the top five large corporate groups.
Financial Partners and Veterans United Mortgages. Navy Federal Credit Union
Ranked 6th among the largest companies.
In the small and medium category, WestPac wealth partners rank first, followed by
First American Equipment Finance, Bankers Healthcare Group, Network Capital
And cape financial network.
Fortune Best Workplaces ranking in financial services and
Insurance, Great Place to Work analyzed anonymously
Survey feedback representing nearly 780,000 employees working in finance
US service and insurance industry. Employee responded
More than 60 survey questions explaining the scope of the organization
Create the best place to work for all. 85% of rating
Based on what employees say about their trust and reach experience
Their full human potential as part of the organization, no matter who
Something they do or what they do Great Place to Work
The typical size of each organization, workforce, and what
The remaining 15% of the rank is based on the ratings of all employees
Daily experience of innovation, company values, and
Their leaders, to ensure that they are consistently experienced. To be considered,
Companies had to meet the criteria for Great Place to Work certification.
to Work means that in an average U.S. workplace, only two employees
Experience a lot of meaningful innovation opportunities every 6 people
There is little or no opportunity for innovation. Navy Federal Credit Union changes
This discouragement rate of that head. In credit unions, there are approximately six
Employees reporting many significant opportunities to contribute to new and better ways
Of doing things every two people with little or no such opportunity.
Experience of Doug Thomas, a Navy federal employee. 5 years veteran
Thomas, a credit union, is a training instructor for new employees. Last year he
Participated in Navy Federation program to generate and collect ideas from
staff. An initiative called “Employee Voice”
A change from the contact center only, far beyond traditional suggestions
box. The idea will be visible to all employees who vote. Proposer
Ideas also get support from the department affected by the proposal.
As an example, we propose streamlining the process of presenting training classes,
Their place. Instead of spending a few hours each week
Thomas handwritten erase information on whiteboard, with dry erase marker, Thomas
It is recommended to display the information on a digital monitor. Within a day, he
Received response and help from I.T.Department to keep track of budget
For an initiative.
The idea won, Thomas not only saw the monitor installed, but also saw his name
Emphasized by internal communications as the creator of the “Quarterly Ideas”.
It’s really cool and it’s not only possible, but also appreciated, “he says.
The Federal Credit Union is Thomas’s family matter. His wife also works at
Company. The financial services industry is undergoing dramatic change,
Shifts and may eliminate the entire A.I. industry occupation.
Thomas sleeps soundly at night. He appreciates the opportunity of the company
Giving him to upgrade his skills—Thomas has advanced from a customer service standpoint
To his current training role. And he is not worried about being fired
“I do not
I’m afraid, “he says. “The Navy’s reputation takes precedence.”
Williams said that the same confidence could be added to customer contact center staff.
Generally to accept skill up. They are learning to be more like
Financial advisors for what
Insufficient funds or how to create a savings plan
Prepare to own the house.
Jobs are becoming less robotized, and the Navy aims to deepen humans
Connection between employees and credit union members. Indeed, the market
A study by the Navy Federation found that its members value the interaction
Real people are more common than typical civilian consumers. this is
Has to do with how military families frequently relocate,
Explain why the Navy has 343 physical stores around the world,
Examples from the Navy’s Federation working to provide an empathetic customer experience,
Consider a museum exhibit created by a team led by Keller Williams.
This exhibit will help Navy Federal team members better understand military life.
Start with basic training on deployment to private reintegration
Part of the way the Navy Fed uses the power of everyone to move
future. In fact, it doesn’t just operate every deck. It is all the mind, head,
hand. And the organization may have had a strategy in the past,
Moving from point A to point B makes things more fluid.
It is no longer point B, “says Keller Williams. “Only change is
Constant and we accept the endless possibilities to come
With it. ”
View the best large workplaces in financial services and insurance and the best small and medium workplaces in financial services and insurance. Click here to read the Great Place to Work report on the future of work, including the impact of artificial intelligence on workplace culture.
Ed Frauenheim is the senior director of content for Great Place to Work. He is a co-author of A For Great Place to Work For All.
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