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Set Salary Strategy Using CUNA Compensation Analytics

The new, interactive tool accesses the industry's most comprehensive database.

October 16, 2013
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Determining appropriate pay levels for your credit union employees has never been easier.

Research and set competitive salary packages during the 2014 budgeting season and beyond using CUNA Compensation Analytics, a new cloud-based interactive tool based on the most comprehensive industry statistics on the market.

"As a major decision-maker for your credit union’s hiring and staffing strategy, keeping the right information at your fingertips while you set 2014 budgets—and throughout the year—can make all the difference in the strength of your team and the success of your credit union," says Beth Soltis, CUNA's senior research analyst.

Constructed with data filed for the CUNA Staff Salary Survey Report by nearly 1,300 credit unions for 100 job titles, the tool allows you to explore base salary, incentives and bonuses, total cash compensation, variable pay, and compensation percentiles.

Explore sortable, industry-wide statistics or narrow the search to include only credit unions with specific attributes or located in a certain region.

“This sort of detail and specificity has never been available anywhere,” says Jon Haller, CUNA’s director of corporate and market research.

CUNA Compensation Analytics provides visual representations of data, including charts, tables, and a map view of your chosen criteria that can be incorporated into management presentations.

Input from credit union human resources professionals ensures the tool features the most meaningful criteria, including salary range percentages and salary range width percentages.

To inquire about a year-round subscription, visit cuna.org/compensation.

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Great article! Unfortunately, most employees don’t feel valued or appreciated by their supervisors or employers. In fact, research has shown that the predominant reason team members quit their jobs is because they don’t feel valued. This is in spite of the fact that employee recognition programs have proliferated in the workplace – over 90% of all organizations in the U.S. has some form of employee recognition activities in place. But most employee recognition programs are viewed with skepticism and cynicism – because they aren’t viewed as being genuine in their communication of appreciation. Getting the “employee of the month” award, receiving a certificate of recognition, or a “Way to go, team!” email just don’t get the job done. How do you communicate authentic appreciation? We have found people have different ways that they want to be shown appreciation, and if you don’t communicate in the language of appreciation important to them, you essentially “miss the mark”. Additionally, employees need to receive recognition more than once a year at their performance review. Otherwise, they view the praise as “going through the motions”. A third component of authentic appreciation is that the communication has to be about them personally – not the department, not their group, but something they did. Finally, they have to believe that you mean what you say. How you treat them has to match the words you use. If you are not sure how your team members want to be shown appreciation, the Motivating By Appreciation Inventory (www.appreciationatwork.com/assess) will identify the language of appreciation and specific actions preferred by each employee. You then can create a group profile for your team, so everyone knows how to encourage one another. Remember, employees want to know that they are valued for what they contribute to the success of the organization. And communicating authentic appreciation in the ways they desire it can make the difference between keeping your quality team members or having a negative work environment that everyone wants to leave. Paul White, Ph.D., is the co-author of The 5 Languages of Appreciation in the Workplace with Dr. Gary Chapman.

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