3 minutes
$300 million/46,000-member Piedmont Advantage Credit Union, Winston-Salem, N.C., with 102 full-time equivalent staffers, subscribes to a highly strategic method for performance management, incorporating both self-assessment and regular coaching, and has successfully united pay for performance.
“The process starts in the fall with the development of our strategic plan,” shares HR & Learning Manager Laura Engle, a CUES member. “Based on corporate goals, we have started to create departmental plans that trickle down to individual staff goals. During the first quarter, we hold a common date for reviews, but it’s not a one-time deal; it’s a cumulative effort from a year-long process, instituted from strategic goals.”
The process looks like this:
- The strategic planning process formulates goals in the fall which sets the stage for performance management.
- In January, each staff person completes an online self-assessment, using HRN Management Group’s PerformancePro
- The employee’s supervisor uses the same format, recognizing accomplishments, strengths, and areas for coaching.
- The two documents are merged to create the employee’s annual development plan, with an open discussion between manager and employee on goals, achievements, and where there’s room for growth.
- A senior manager also evaluates the employee review to eliminate bias and bring validation to the process. (Staff feel they’re given a fair and consistent review.)
- Following the development plan, staff meet with their supervisors either weekly or bi-weekly throughout the year for coaching. The tone of the conversation is relevant and uses questions like, “How are you doing?” or “How can we help you?”
- The coaching sessions are designed to assist the employee and remove barriers that impede communication.
- Managers and staff alike are encouraged to access the online monitoring system often, to make comments or record accomplishments or benchmarks.
- Gap analysis is the final component, where the manager’s ratings are compared to the employee’s. It’s a tool enabling the manager to become a better coach, and if there are significant gaps, may point to the manager requiring training or direction to make the coaching sessions more valuable.
Engle explains that the bi-weekly, one-on-one meetings are vital for both employee and supervisor. “We visit with employees at regular touch points and use the discussion to help manage our culture. Additionally, it lets us take the temperature of the relationship so we can better serve our members.” She recommends asking plenty of questions to stimulate discussion.
Engle reiterates that while the CU may own the job, it’s the employee who owns his or her career. “We work hard on the collaboration component with support coming from our CEO all the way down. Everyone has a voice, from the most tenured to the newest employee. That is how we believe we will be able to generate new ideas for how to put our member-owners first.”
With 25 years of marketing and communications experience, Stephanie Schwenn Sebring established and managed the marketing departments for three CUs. As owner of Fab Prose & Professional Writing, her focus is on assisting CUs and industry suppliers with their communications needs.
