Payday loans

March 14, 2014

Did You Know . . . HRN Offers CEO Review for Credit Unions?

Did you know with CEO Review you are able to strategically align the CEO’s performance with credit union goals and priorities?

Program benefits of CEO Review include:
• Provides up-to-date CEO salary and bonus market data on an annual basis
• Establishes a fair and defensible approach to determining merit and incentive pay
• Compares peer data on key financial growth measures
• Personalized implementation by credit union experts
• Affordable and easy to execute

HRN Performance Solutions has over 20 years of experience providing credit unions with talent management. HRN consultants work with Board members to develop a CEO performance plan that reflects the goals of the credit union. HRN can also provide “peer-to-peer” market salary information for comparable sized and regionally located financial institutions.

CEO Review consists of a four part process that aligns goals with performance and compensation.

Part I – Performance Objectives
A critical part of the CEO performance review is that performance objectives are developed from the credit union’s mission/vision statements, the strategic business plan, and the plan year budget. These objectives are quantifiable and observable indicators that bridge the philosophy of the credit union’s mission with measurable results.

Part II – Compensation Plan
An integral component of the CEO evaluation process is aligning compensation to outcomes. HRN develops a CEO compensation plan unique to your credit union using current “peer-to-peer” salary data that is tied to comparably sized and regionally located financial institutions.

Part III – Special Projects
The Special Projects section incorporates key, non-measurable aspects of the annual strategic plan and budget. Individual Board members evaluate results for each of the key points and submit their evaluations to the Chairman.

Part IV – Board Assessment
The Board Assessment is designed to provide feedback to the CEO from each Board member about his/her perception of the CEO’s effectiveness as a decision maker, manager, and credit union leader. Each Board member completes an anonymous online assessment form. Data from each Board member is compiled onto one form and shared with the CEO during the review.

 

Contact HRN for additional information:  www.hrnonline.com/ceoreview.asp
Call:  (800) 897-3308 OR Email:  comp@hrnonline.com

 

 

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