Employee Opinion Surveys

Well our first employee opinion survey was recently completed at our credit union. Not surprisingly, “Pay” was the lowest rating we received in all 13 or 14 categories. Coming from a retail background myself, I find the CU pay is, naturally, higher than other retail pay, but lower then most banks in our general market. When I look at the overall market and compare the harsh selling stress in a retail banking environment, I see many people making a transition to the “movement”.

More interesting findings in our survey show that nearly all of our employees love their jobs, the reputation of the CU in the community, and their direct manager.

Some of the lowest ratings were pay and health benefits (spouse/dependent care).

It will be interesting to see if the changes we’ve made to the compensation structure will alter employee opinion on pay. I hear upper management say “they don’t know what other CU’s are paying” and our front-line staff saying “Bill left and went to Community Credit Union for $14 an hour.” Hopefully our adjustments will bring the two disparate views closer together.