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MOTIVATION

Vancity: Motivating for Personal and Professional Success_______________________________________________________________________

What makes a great workplace? Vancity has the answer. For three consecutive years,from 2004 to 2006, it has been on Macleans magazines list of Canadas top 100employers. Each year, it receives thousands of applications from people who want theopportunity to work for a company that motivates its employees by providing them withrespect, responsibility, and support along with a competitive salary and benefits package.1

As a result of the many benefits, as well as the programs and creative approaches todoing business, employees are empowered, self-directed, and productive. They work toachieve their personal and professional potential and to ensure financial success forVancity.History of the company

Vancity is a Vancouver-based company, founded in 1946, that began with only $22 intotal assets.2 Today, the company has over 2,000 employees and manages over $10.5billion in assets. It is a member-owned credit union, providing a complete range offinancial services to about 350,000 members.3 Vancity continues to be committed to itsoriginal purpose and values: working with people and communities to help them thriveand prosper, while operating with integrity, innovation, and responsibility.4 Vancityacknowledges that a healthy and committed workforce is the reason they are able tosustain productivity and financial success within a competitive industry.

Keeping Employees Healthy

Employees are the heart of Vancity, and keeping the heart healthy is paramount tosustaining competitiveness for this company. With this in mind, Vancity offers a numberof creative and motivational programs and rewards. Vancity provides its employees withthe opportunity to set company policies and procedures that impact both their work andlife. Employees are trusted to develop, in the words of the company, their own dynamic;if work is stressful, home needs to let up a bit, and the reverse is true also.5 For example,the company understands that if an employee has a young child at home, it may benecessary to build a workday that allows for flexibility. This positive approach torecognizing the challenges of life and work, and empowering employees to create theright dynamic to deal with them, is reflected in increased opportunity for the employeeand the company.

Theorists have long supported the connection between physical health and mental health.Over the years, and strictly driven by the employees desire for personal development,Vancity has initiated a number of programs focused on assisting employees in adopting aplan for a healthier life. Programs have included opportunities to work with specialists inhealthcare for developing personal plans for health and wellness. As well, employeespirit champions promote health and wellness programs among employees, and every

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summer the company develops a get-active program that initiates a healthy competitionbetween teams of employees.6

Pay, Benefits, and Incentives

Vancity offers a competitive pay and benefits program that includes dental and lifeinsurance, three to six weeks of annual vacation, and care days that can be used forpersonal and family illness or injury. Other incentives include annual bonuses, tuitionreimbursement, retirement planning, reduced rates on personal financial services such asmortgages and loans, as well as interest free loans to purchase computers.

Vancity also recognizes the importance of family for employees. It offers an employeeand family assistance program that provides short-term counselling for employees andtheir immediate families, access to emergency child care for younger children, newparent programs, a wellness room for nursing mothers, and a pager lending program forfamily illness or emergency situations.7 The pay program, along with the variety ofincentives and family support offered, all serve to motivate and enhance the overallperformance of the employees.

Making the Connections

Communication is the key to developing the healthy and caring environments thatprovide opportunities for employees and organizations to prosper. At Vancity, internalcommunication is as important as external communication. Current and relevantcompany information is available on the intranet, InSite. This site also includes arecognition page where the achievements of employees are celebrated within thecompany. As well, an annual, more formal evening also celebrates employeeaccomplishments. During this event, the company formally acknowledges the supportthat family members provide Vancity employees. There is also a regular system ofcommunication that links management and employees. Management regularly visitsbranch offices to hold open meetings with employees. This provides employees with theopportunity to state work initiatives or accomplishments that they are proud of, or to poseany questions or concerns that they may have.8

Can Vancity continue to be a great workplace? Research would conclude that it could.This is a progressive company that strives to develop the full potential of theiremployees. Employees, in return, are committed to ensuring the future growth andcontinued financial success of the company.

___________________________________________________________________________Endnotes

1 Information on the corporate website, .2 Ibid, .3Information online,.4 Information on the corporate website, .

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5 Ibid, op. cit.6Ibid, .7 Ibid, op. cit.8 Andrew Wahl, et al., Best Workplaces 2006, Canadian Business (April 10, 2006).

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Questions

1. Identify how Vancity satisfies both the lower-order and higher-order needs asidentified within Maslows Hierarchy of Human Needs.

2. Provide examples of both extrinsic and intrinsic rewards offered at Vancity.3. Describe how Vancity has established performance-contingent rewards.

You Do the Research

1. Research another Canadian company on Macleans magazines current list ofCanadas top 100 employers. Compare and contrast that companys programs andincentives to those offered at Vancity.2. Locate the most current Accountability Report for Vancity. Complete a socialaudit to determine which social responsibility strategy Vancity is pursuing.

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