Arrowhead Credit Union Cut Employee Quit Rate in Half
Company Profile
Improve Retention
This is the best thing ever. It’s exactly what I need, and it’s easy to administer. I would say I spend 15 minutes a day administering.
Challenge
Arrowhead Credit Union was losing employees to competitors’ big-bank perks.
Recognition and rewards at Arrowhead Credit Union were inconsistent across the board, and its multigenerational workforce felt disconnected, leading to high turnover. The credit union knew it needed to create a strong culture with consistent recognition throughout the company to improve retention.
Solution
Arrowhead Credit Union created a strong culture of recognition and increased retention with Kazoo [now WorkTango’s] Recognition & Rewards platform.
By using public, peer-to-peer recognition to close the gap in its company’s workforce, Arrowhead Credit Union connected its employees across departments, locations, and generations — and reduced the employee turnover rate by 49%. Plus, the company customized its reward catalog to fit and reinforce its culture, offering experiences, charitable contributions, and more.
Results
Arrowhead Credit Union cut its quit rate in half.
With the Recognition & Rewards platform from Kazoo [now WorkTango], Arrowhead Credit Union was able to connect its employees across multiple generations, using public recognition as a tool to close the gap in its workforce. Within the first year, the company saved 40% on its rewards budget and had a 49% reduction in the number of employees who left to work at other credit unions or banks.