Oct 27, 2023
CoBank Response
2yThank you for taking the time to provide your detailed feedback. We appreciate your commendation of our facilities and the flexibility we offer. We understand the concerns you have raised about staffing, onboarding and communication. We’re committed to continuous improvement and will take your feedback into consideration to enhance our associates’ experience. We take associate feedback and comments very seriously and want to respond to the some of the concerns you’ve raised.
CoBank developed our Flexible Work policy based on role classification in the summer of 2021 and has continued to evolve that the policy. Today, approximately 98% of our roles at CoBank are either classified as hybrid formal, hybrid flex or fully remote. For example, HR Business Partners are in the office every day because their customers are in the bank.
In conjunction with our flexible work policy, we’ve put other measures in place to ensure strong team cohesion across the bank and a continuing healthy corporate culture. Through workplace surveys, associates told us that they value social connections with their coworkers in the office. In early 2023, we tested once-a-month connection days to see if associates were able to use the time to engage with their peers and with other departments. To help encourage social connections, we offered free lunches, urged associates to have meeting-free time on connection days and also coordinated Associate Resource Group events on those days. After a trial period, we again surveyed associates to get a pulse if connection days were valuable. Over 75% of associates indicated that they wanted to continue connection days and found them to be a good way to foster social connections at work.
CoBank’s Short-Term Incentive Plan provides a competitive, performance-based element of annual compensation. Our corporate factor is determined based on business metrics and the achievement of business objectives as defined in the Strategic Business Plan each year. These goals will change from year-to-year, and, as a result, the corporate factor component of our STI will also change. The corporate factor has been significantly higher than 100% over the last 10 years due to the bank’s strong financial and operational performance.
Please consider reaching out to your HR business partner to discuss specific concerns so that we can have a dialogue for positive change.