Friday, June 21, 2024

At SECU: The Employee Covenant?

  https://i0.wp.com/wallpapercave.com/wp/wp4350591.jpg ... Matthew 7:15.

If the SECU Board and Executive Leadership Team (ELT) intend to operate SECU as a for-profit "bank", you can be assured that means the importance of SECU employees will soon begin "to come second" - often a distant second - in SECU's "strategic planning". After all, banks (and SECU recently!) like nothing better than to proclaim record profits. That's their purpose! That's the banking "industry standard" !

That " industry standard" may already be in motion at SECU, if the many comments on health benefits, compensation, promotions, "PTO", shift bidding, "module training", stalled comp surveys/career paths, under-staffing in branches, "hire from outside first", and low morale are accurate. 

The costs of employee salaries and benefits are the largest expense items for most financial institutions - usually @ 65-70% of total operating expenses. With the "industry standard" model, if employees are viewed as "just another cost input" hindering profits, then SECU employees might want to look closely at the top picture to consider their precarious situation. And, what the future may hold for their "career" - the work which supports their obligations, their hopes, their families....

https://www.roadtrafficsigns.com/img/lg/K/multiple-curve-symbol-funny-road-sign-k2-4833.png  The "unannounced" SECU Board scheme to cap post retirement benefits for active long-term employees and retirees appears to be yet another example of a leadership lapse creating confusion in the trenches as employees attempt to make day-to-day operating decisions without a clear policy framework - or sense of principles and purpose.

😎 The SECU covenant with employees? What were the elements of that idea? Good question, let's take a look! Have things really changed...?

 

Hope not... but the signs are not encouraging.

14 comments:

  1. I hate to say it but this Titanic has sailed ...
    The wolves are in charge of the hen house and the feathers are starting to fly!

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    1. ... and just like the Titanic, SECU isn't unsinkable.
      When you ignore the warning signs and the fundamental underlying problems (most of an iceberg is under the water it ain't moving) (most of the problems are unseen to the member/owners and they're not being addressed) and you slam into the berg well ... you seen the movie ...

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  2. That process all started as soon as the outside CEO took over. Very mature processes and internal governance controls were cast aside in favor of 'new thinking' from external hires. New jobs were created- existing employees need not apply. Many in-flight technology projects aimed at improving services to members were shut down, delayed, or put on hold in order to be redesigned by the "bright new minds" brought in by new management.

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  3. SVPs…if you are wondering why your staff seems demoralized. Here is your answers. That will save you typing emails to your managers to try to lift employee morale. Only thing that will lift employee morale is the resignation of our ceo and board

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    1. I couldn't agree with this more! The only emails that would boost morale, at our branch anyway, would be the announcement of resignation of Poor Leigh (Think Gym Haze style!) and the Fab 8 follow she/her. They can take Jared Benesh and his First Citizens software with them. As an employee, I am sick & tired of CONSTANTLY having issues that center around this "new" system he dragged with him. Anyway, I've been quite open & frank when people ask about all the issues/changes they've noticed with SECU. We've got to get 4 more in '24! Our membership (and all of us!) can make it happen!

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    2. RSVPs please also take note. The silly internet memes being forwarded encouraging your employees to "hang in there and have a good day" aren't helping matters at this point. It's become patronizing. Branch employees want to be here and the staff needs your help to make their jobs more efficient and easier to help members. The lack of support internally has become very dissapointing and a huge morale killer. If a branch employee calls an internal department and has to sit on hold for 30 minutes, that's a problem. Try working on that, instead of creating a micro managed BORA review process that takes up way too much of the branch's time. Branch employees are member facing, that's what their time should be spent on.

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    3. Agree @9:20 - Some RSVPs are too consumed with making their bosses happy and not listening (or caring) to what the real issues are facing the branches. Instead of going to battle in support of the districts and branches under them they have become hammers, just relentlessly pounding the people below them so the ELT can see where they stand. They want no controversy, they look after themselves first. In some cases they have lost sight of what their function should be and become dangerous and obsolete at the same time. Likely be fine without them, branch structure is top heavy anyway.

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  4. most folks want to leave a place as well or BETTER than when they arrived ... not these people ... 'tear it down' is their motto!

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  5. Not an employee. Need definitions for ELT and BORA. Thank you. A lot of people read the blog who are not employees.

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    1. ELT - Executive Leighduhshp Team - The "Elite" Leaders at SECU..... "C-Suite"... A-Holistics

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    2. BORA is Branch Operations Risk Assessment (BORA). This is the new way branches are audited. BORA is more of a self audit approach. BORA takes up over 50% of most Vice President (Branch Manager) and Assistant Branch Managers day which takes time away from member service and employee needs.

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    3. If BoRA takes that much of their time I have to question what they are looking at? Surely not every day. 😂

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  6. the members of the board continue to take SECU to new lows.

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    Replies
    1. "They" have strayed from the founders mission ...
      'They" got a better idea, and out of their mouths they call it profit ... they profit off the backs of the member/owners!

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