House panel to hold Wells Fargo hearing Sept. 29

first_img 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The House Financial Services Committee plans to hold a hearing Sept. 29 on Wells Fargo’s creation of more than 1.5 million unauthorized consumer deposit accounts and 500,000-plus credit card accounts.Wells Fargo will pay some $185 million in fines – $100 million of it imposed by CFPB, the largest amount the bureau has ever assessed – due to this activity, also being looked at by the FBI and Justice Department.John Stumpf, Wells Fargo’s chairman and CEO, faced hours of intense grilling and criticism during a Senate Banking hearing earlier this week. The San Francisco Fed announced Thursday that Stumpf has resigned from an advisory panel to the Federal Reserve.The bank’s scandal invoked numerous comments from speakers throughout NAFCU’s Congressional Caucus this week, with lawmakers stepping up to the podium to discuss the good relationship credit unions have with their members and their support for the member-owned cooperatives. continue reading »last_img read more

Performance standards – Rule or tool?

first_img 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr I’m often asked, in my role as a performance strategist, “Should our organization have performance standards in place?” I usually I respond with a question of my own, “Why do you ask?” What follows is a lengthy explanation of why they feel standards would hamper employee performance and engagement.  This says a lot about our views of standards.  Here’s another question, if in fact the success of an organization is directly related to the performance, productivity and commitment of the employee – why would performance standards be a bad thing? While a job description tells us what to do, performance standards provide job function parameters.  Standards are observable behaviors and actions that can be measured and coached to. In other words, they tell the employee what doing a good job looks like. Are you still asking rule or tool? I think you can see where I’m going here.  I believe that when done well, performance standards are a tool that provides your team with the specifics around “how to win”. Let’s hope we’ve hired people with the drive and desire to do a good job and succeed everyday… if not, stop reading this and find an article on “how to hire better people”. Performance standards can very well become a set of rules if not set up correctly with a focus on your employee experience and your member experience.  Avoid these mistakes:Using job performance standards to micro-manage your teamImplementing new performance standards shortly before evaluationsNot keeping your performance standards updated and currentSetting unrealistic job performance standardsLimited creativity with tight performance standardsOn the flip side, if your team understands how to win, they also know where to focus their time and efforts to achieve your credit union’s objectives.Here are the top 6 reasons why performance standards are a highly effective tool:Provides your managers with a way to measure job performance and productivityAllows your employees to measure their own performance and productivityHelps your team understand the expected scope, key responsibilities, required knowledge, skills and duties of the jobSupports equitable evaluations of all employees in the same roleFacilitates communication between managers and employees regarding job related activitiesHelps managers ensure that employees have the resources necessary to do their jobs wellWhat happens without job performance standards?Managers and employees may have a very different understanding and expectation about job requirements and performanceManagers may have difficulty identifying performance issuesManagers and employees may have difficulty separating WHAT should be done from HOW it should be doneManagers tend to lower expectations to avoid confronting employees with performance issuesEmployees may protect themselves from possible failure by performing at a lower (more comfortable) levelManagers may coach and evaluate employees (doing the same job) differentlyWhere to start:Define specific performance standards and measurement criteriaIdentify the top 3-5 job responsibilitiesIdentify specific skills and knowledge needed to perform at a high levelEstablish a method to monitor performanceImplement standards at the beginning of an evaluation cycleSet short-term (90-day) AND long-term goalsDevelop a plan for managers and employees to communicate on a regular basis When done right, setting performance standards will increase understanding of organizational objectives, empowering your team to function at a higher level and at the same time build trust and commitment to your credit union goals. This all leads to growing enthusiasm, engagement and fun!To learn more about member experience strategies, employee engagement or organizational development, email jhitman@cuna.coop or call 608-231-4354.AUTHOR: Jayne Hitman, national relationship manager, CUNA Creating Member Loyalty™ last_img read more

ICC World Cup Need to adapt to conditions to perform consistently, says Rahul

first_imgNew Delhi: India opener K L Rahul said he needs to quickly adapt to different England conditions in order to consistently contribute with the bat for the national team in the ongoing World Cup. Rahul scored a 92-ball 77, his second half-century of the tournament, and in the process added 180-run opening stand with Rohit Sharma against Bangladesh.The partnership laid the foundation of India’s 314 for 9, a target which proved too much for Bangladesh as they were folded out for 286 in 48 overs. The 28-run win sealed India’s semi-final spot in the World Cup.”I have learnt in the last couple of years that if I have to perform consistently for the team then I have to adapt according to the wicket,” said Rahul, who has been promoted up the order after Shikhar Dhawan was ruled out of the tournament with a  thumb fracture.”In the last few matches, the conditions that we played in, like in Southampton, Manchester and here at Birmingham, wickets were little slow. So I felt it is important to take some time initially and if I get set then I can score runs.”I knew that the firepower was there, so initially I can take a little bit of time, that is my role and so I built my innings accordingly. I am learning with each innings and getting better.”Against Bangladesh, Rohit scored a 92-ball 104 to become only the second cricketer after Kumar Sangakkara to hit a record four hundreds in a single edition of World Cup.And Rahul said only the Indian vice-captain could have played such an innings on that track.”Wicket was not so good and easy, the way Rohit made it out to be. Obviously, he is in good form and he has already scored four hundreds, so I think somebody like him only could have batted like that on that wicket,” Rahul said on ‘Chahal TV’, a short interactive programme hosted by wrist spinner Yuzvendra Chahal for the BCCI website.”I just needed to play second fiddle and I am happy that our partnership was a 100 plus innings.” India next play Sri Lanka in their last league match at Leeds on July 6.(Inputs: PTI) For all the Latest Sports News News, ICC World Cup News, Download News Nation Android and iOS Mobile Apps.last_img read more