BALANCED SCORECARDS, PERFORMANCE METRICS and INCENTIVES

Balanced Scorecard Development
We’ve developed balanced scorecards for credit unions of all different sizes and charter types. This will include leading and lagging indicators in four areas: financial, member, operations and employees.

Each Financial Institution has a unique market and business plan so scorecards, metrics and incentive compensation needs to be different for each assignment. In general we use an incentive system based around an indexed balanced scorecard, but incentives could be product or campaign based.

Each type of incentive program will produce different results:

Campaign incentives will increase the sales of a particular product over a short term.

Product incentives are designed to reward staff members for sales of particular products.

Balanced Scorecard incentives based on key performance indicators for departments and branches will reward employees for more than just sales performance. It will also reward member service, operations excellence and employee development.

We partner with KG & Associates on a variety of compensation projects:

• Incentive tracking
• iPerformease
• Executive compensation
• Incentive compensation systems

Scorecards, performance metrics and incentives are highly charged and often emotional projects. We bring objectivity to the process.