Bankunited Research

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Category: Business and Industry

Date Submitted: 09/19/2011 08:50 PM

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The pro-social behavior was assessed thoroughly at BankUnited. We studied the effects of motivational tools previously and their positive outcomes which can be found in the firm’s regular business practices. One form of motivation for the employees which was recognized was the evaluations which occur once a year. Aside from the annual evaluations and salary increases, there are Relationship Banking (RB) programs available as well. The main and more marketed form of pro-social behavior is found among the employees in hopes to satisfy this RB program.

In order to provide stability within the RB program, BankUnited organized an internal competition where they reward the top 10% of tellers of the bank quarterly. The rewards are focused on the reservation of accounts, and not only do they receive recognition quarterly but there are annual ceremonies as well. The top three tellers of the RB program receive quarterly payroll prizes and each quarter the gift would be the equivalent of such things as a gas card or other gift cards which alternate each time. To start, this is a great social and motivational tool, however it does get better.

For the annual ceremony, BankUnited invites all qualified tellers, those at the top 10%, to be eligible for an additional reward. Such ceremonies or events are conducted at the Market President level. In order to maintain the momentum and reduce discouragement a monthly prize is also awarded to the top teller in each region. These tellers would also receive a payroll award in the hopes of retaining the firm’s success. Not only does this program provide excellent motivation, it also allows positive social behavior and healthy competition so that the employees do not get bored and there is no favoritism. The program is based on productivity rather than biased recommendations.

The conflict management and negotiation portion relating to stakeholders has to do with the services that are offered. There is a line of credit products that...