By Greg Michlig
If your employees are happy and motivated, they’ll do a better job serving members. If members are happy and getting good service, they’ll do more business with your credit union. If your credit union has more profitable members, it’ll succeed financially.
This idea, the “service profit chain,” was the focus of speaker Chris Zervas, Summit Solution Group, Tyler, Texas, during a recent KOMA Council of CUES (Kansas, Oklahoma, Missouri, Arkansas) meeting.
According to Zervas, these sequential components of internal service quality build on the previous element, and together pave the way for profits: employee satisfaction, employee loyalty, employee productivity, external service value, customer satisfaction, and customer loyalty. When customer loyalty is strong, Zervas said, profits will follow.
So what does it take to lay the foundation for employee satisfaction, loyalty and productivity? According to my notes, Zervas identified four main drivers, and encouraged program participants to attend to them:
The Drive to Acquire: Individuals may be motivated by a quest for physical objects for reasons ranging from living necessities to reward for a job well done. People may join an organization purely for financial gain over a prior job. They may stay with an organization due to raises, bonuses or gifts. It’s important to note that over-utilization of reward-based compensation can also lead to unhealthy competition.
The Drive to Comprehend: Many employees are truly interested in learning all the ins and outs of the organization and the driving forces behind the business strategies involved. As employees grow their knowledge of the business, there is satisfaction in their newly acquired skill set and understanding.
The Drive to Bond: Very simply, employees often find comfort in knowing that those within their organization are not only co-workers, but individuals with whom they share a common goal—or even friends. Often, when employees see a top-to-bottom “we’re in it together” approach within the organization, it will create an internal sense of belonging and pride in what is accomplished by the whole.
The Drive to Defend: If employees feel engaged through the other drivers in this list, they will see their organization as something worth fighting for. As with all things, moderation is key. Employees can become so concerned with outside elements that they view all others’ activities as a threat to their own. However, having such strong feelings for the organization, when tempered with a dose of reality, can boost employee retention.
How do you motivate your staff to service excellence? Do any of these drives apply in your organization?
Greg Michlig is CUES' director of member relations.
