CONEXUS Is the Largest Credit Union in Saskatchewan with Assets

question 20

Essay

CONEXUS is the largest credit union in Saskatchewan with assets of $1.1 billion.Its training and development budget for its 465 employees is 6% of payroll.Three percent is spent on university education,and the other 3% is spent on training.Its largest training program is one that develops financial service representatives.The training consists of several steps and each is evaluated.In-house and classroom-based modules teach content,such as computer literacy,cash duties,and introduction to CONEXUS's products and services,and progresses through to more advanced training,such as consumer lending practices,estates,and minimal mortgage lending.Each three- to five-day module is followed by a work period of three to 12 months,so that employees can apply their knowledge."Smile sheets" are completed by each participant at the end of the classroom training,exams are given after each module and the results are fed back to the employees and managers,employee performance reviews are conducted on the job-specific competencies learned during the training.After a number of the financial planning modules,performance is tracked by the number of call-outs to customers and the number of sales.
CONEXUS uses several measures to evaluate the effectiveness of its training.List the levels of evaluation used and what is being measured at each level.Are there other ways that CONEXUS could ensure that the training and development expenditures are worthwhile?

---

Definitions:

Premium Pricing

A pricing strategy where goods or services are priced higher than the market average to emphasize their exclusivity or quality.

Everyday Items

Common products or goods used regularly for daily activities or needs.

Monopolistic Competition

A market structure where many companies sell products that are similar but not identical, allowing for competition based on quality, price, and brand.

Differentiated

Pertains to a marketing strategy where a company offers unique features, benefits, or product variations to stand out from competitors.