employee recognition Source: Shutterstock.

The $12.6 billion First Tech Federal Credit Union in San Jose, Calif., had a problem – the company’s employee recognition tool wasn’t working. The previous tool was outdated, it wasn’t social and its reward amounts weren’t meaningful. In addition, the former program’s budget was parsed out to leaders and the amounts were small; because of this, it didn’t encourage employee participation or cross-team participation, explained Chary Krout, former SVP, human resources at First Tech and current founder/co-owner of Cultivate.

Employees were ultimately unsatisfied with this. They wanted more clarity and communication on performance. They felt their managers just talked at them, and that they didn’t really see the work they were doing and understand the areas where they needed development and support. The company’s leadership also recognized a need for change – they wanted a solution that would help them transition away from annual reviews, and ultimately empower employees to adapt with agility and update their priorities as the goals of the business changed, as well as reinforce a culture of shared accountability, according to a First Tech Case Study.

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Tahira Hayes


Credit Union Times

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