Since its humble beginnings when a group of public educators came together to assist a colleague in purchasing a set of car tires, Apple Federal Credit Union (FCU) has developed products and services aimed at making banking easier.
Apple FCU is a not-for-profit, member-owned financial cooperative based out of Fairfax, Virginia with 22 branches throughout the Washington, DC area. Since Apple FCU’s members each own an equal share of the credit union, the company recognizes the importance of putting its members first.
The financial services industry is intensely competitive. While this provides good value and selection to customers, it also creates a highly competitive environment for attracting top talent. This is the reality Apple FCU faces since it has many branches situated in thriving Washington DC, and it faces competition from the federal government, government contractors, tech firms, and strong local government institutions for the same talent.
Beth Yingling, Senior Vice President of HR for Apple FCU explains:
“One of our biggest challenges as an organization is attracting and retaining top talent. This is because many positions require expertise and it’s a very competitive workforce here in the Washington area because of the large banking community.”
In order to provide great service to its members, the leadership team relies on its performance-oriented, committed, and engaged workforce. So how does Apple FCU do it? By creating a learning and development-focused culture and using Halogen Software.
Attracting talent in a highly competitive industry
In 2006, Apple FCU adopted an organizational strategy to become an ‘Employer of Choice.’ Yingling explains:
“We want the organization to have a reputation as being a great place to work in order to attract talent, and then once they are employed with us to instill a sense of pride and that makes them want to stay here.”
The company went in search of a new talent management solution and peers in the credit union world recommended Halogen PerformanceTM.
“We selected Halogen Performance because it came highly recommended by our peers. The Halogen system is straightforward and easy to use, and Halogen has built talent management best practices right into the software. By streamlining our talent management processes and adding additional tools like Halogen Succession and Halogen 360 Multirater, we have been able to increase accountability and communication about performance and development, and engage our employees more throughout the entire talent life cycle.”
Halogen Performance, Apple FCU’s performance management process has become
fairer and more transparent. Managers and employees work together to set clear,
measurable goals that are aligned with organization’s strategy and business
objectives. As a result, employees know what they’re accountable for and how
their performance impacts organizational results and member satisfaction.
Driving employee retention and engagement through development
Hand-in-hand with Apple FCU’s goal to attract great people is retaining them through high employee engagement and development. Says Yingling:
“We promote employee engagement by involving staff in the creation of our reviews. A cross-functional taskforce developed appraisal forms with clearly defined competencies that fit our performance objectives and culture. With thoughtful and aligned goals, employees clearly understand what is expected of them (goals) and how they will be rewarded for their performance (compensation).”
Yingling also shares how Halogen helps Apple FCU also ensures its employees understand the career advancement opportunities available to them:
“Halogen’s solutions have helped us to identify staff in need of development and to align that with talent management and career development. We use Development Plans to identify developmental issues and set related goals. Halogen also helps us to identify our high performers and track career development or advancement opportunities within the credit union. We can then provide the training and support required to develop our high potential employees into the visionary leadership of Apple FCU. For example, in 2014, 41% of open positions were filled through internal promotions.”
Creating a transparent and standard way in how people are evaluated has also supported Apple FCU’s total rewards practices by rewarding high standards of performance in a fair and consistent manner.
“Apple FCU is a dynamic organization comprised of talented, hard-working, service-oriented people. As part of this team, employees know the importance of providing quality service to our members. People know what they’re evaluated on and they know if they perform well, they will be rewarded. We offer rewarding career opportunities and a competitive total rewards package.”
Apple FCU is continuing its drive to be an employer of choice in the financial industry. Creating a fair and transparent performance management system that rewards high performance has allowed the company to attract new talent and retain high performers.
“I certainly would I would recommend Halogen not only in terms of its capabilities but also the service that we receive from the support teams that we work with whenever we have issues,” says Yingling. Wherever we are represented, we have recommended Halogen.”