Directors Urged to RewardAchievement

Register now

LAS VEGAS - (12/09/05) -- A speaker at the CUES Directorsconference here Wednesday outlined a method for credit unions toincrease revenue growth while keeping a lid on fixed compensationexpenses. According to Michael Higgins, partner in businessconsultancy Mike Higgins and Associates, linking part of employees'compensation to both overall credit union and individualperformance helps a CU's bottom line by encouraging a salesculture. "I've seen many bonus plans that pay out 3% to 5% nomatter what - good year or bad - because that's the way they'vedone it for 137 years."

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER