Best Practice Spotlight Building Core Competency Programs
Matt Lane Chief Financial Officer, Yolo Federal Credit Union
Prior to the implementation of the core competency program at Yolo Federal Credit Union (Yolo FCU), there was little structure to pay increases. The program provides employees with the expected competencies of their current role and a roadmap for their career path. It also creates a guide for managers to hold them accountable. Employees are awarded pay raised when they demonstrate increases in job knowledge, skills, and performance. The knowledge, skills, and training requirements for each position are reviewed by the manager annually to determine if changes are needed, and the salary ranges are updated to reflect current market rates. The core competency program at Yolo FCU has been in place for many years, and the improvement in performance is noticeable. Managers use the tools to hold their employees accountable, and
employees enjoy having some control over their own success. The program is intended to put the employee in the driver seat with their manager as the coach. On the other hand, if an employee is not progressing through the program at a desired rate, the manager can use the expectations provided as a coaching tool. Every position in the organization, below the executive level, is part of the program. When I started with the organization, I came in at middle management. I had no prior experience working at a credit union, so I found this program extremely valuable as it provided me guidance on what I needed to know to be successful in my position. It also gave me an understanding of what I needed to accomplish to earn more money. These two pieces are invaluable to ambitious employees that have a desire to learn and grow financially.
24 I ACHIEVENEXT EMPLOYEE ENGAGEMENT AND PRODUCTIVITY 2 HELPING N W MANAGERS SUCCEE
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