MOTIVATION

Vancity: Motivating for Personal and Professional Success

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What makes a great workplace? Vancity has the answer. For three consecutive years,
from 2004 to 2006, it has been on Maclean’s magazine’s list of Canada’s top 100
employers. Each year, it receives thousands of applications from people who want the
opportunity to work for a company that motivates its employees by providing them with
respect, 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 to
doing business, employees are empowered, self-directed, and productive. They work to
achieve their personal and professional potential and to ensure financial success for
Vancity.

History of the company

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

Keeping Employees Healthy

Employees are the heart of Vancity, and keeping the heart healthy is paramount to
sustaining competitiveness for this company. With this in mind, Vancity offers a number
of creative and motivational programs and rewards. Vancity provides its employees with
the opportunity to set company policies and procedures that impact both their work and
life. 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 be
necessary to build a workday that allows for flexibility. This positive approach to
recognizing the challenges of life and work, and empowering employees to create the
right dynamic to deal with them, is reflected in increased opportunity for the employee
and 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 a
plan for a healthier life. Programs have included opportunities to work with specialists in
healthcare for developing personal plans for health and wellness. As well, “employee
spirit champions” promote health and wellness programs among employees, and every
summer the company develops a get-active program that initiates a healthy competition
between teams of employees.6

Pay, Benefits, and Incentives

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

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

Making the Connections

Communication is the key to developing the healthy and caring environments that
provide opportunities for employees and organizations to prosper. At Vancity, internal
communication is as important as external communication. Current and relevant
company information is available on the intranet, InSite. This site also includes a
recognition page where the achievements of employees are celebrated within the
company. As well, an annual, more formal evening also celebrates employee
accomplishments. During this event, the company formally acknowledges the support
that family members provide Vancity employees. There is also a regular system of
communication that links management and employees. Management regularly visits
branch offices to hold open meetings with employees. This provides employees with the
opportunity to state work initiatives or accomplishments that they are proud of, or to pose
any 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 their
employees. Employees, in return, are committed to ensuring the future growth and
continued financial success of the company.

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Endnotes

1
Information on the corporate website, <www.vifamily.ca/library/social/vancity.pdf>.
2
Ibid, <www.vancitycareers.com/ourCompany/history.html>.
3
Information online,
<www.en.wikipedia.org/wiki/Vancouver_City_Savings_Credit_Union>.
4
Information on the corporate website, <www.vifamily.ca/library/social/vancity.pdf>.
5
Ibid, op. cit.
6
Ibid, <www.vifamily.ca>.
7
Ibid, op. cit.
8
Andrew Wahl, et al., “Best Workplaces 2006,” Canadian Business (April 10, 2006).
Questions

1. Identify how Vancity satisfies both the lower-order and higher-order needs as
identified within Maslow’s 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 Maclean’s magazine’s current list of

Canada’s top 100 employers. Compare and contrast that company’s programs and
incentives to those offered at Vancity.
2. Locate the most current Accountability Report for Vancity. Complete a social
audit to determine which social responsibility strategy Vancity is pursuing.