Whether you currently have an intranet solution or not, you may not realize the full advantages of intranet software in your workplace. For credit unions, an intranet provides a plethora of benefits beyond document management and a news feed (though those are still incredibly important). Here are the top 10 advantages of intranet software for credit unions, from forms to automated workflows!
1. Your intranet can increase compliance
Having a single source of truth for your credit union not only increases productivity but also increases compliance. When you use your intranet as a place where employees can rely on finding the most up-to-date policies and procedures, you can rest assured that your employees will always refer to the most up to date documents and won’t be viewing old information. For further reading, this blog discusses how intranets can aid in increasing compliance in financial organizations.
2. Your intranet can build a sense of community at your credit union
The emergence of the digital workplace makes it harder for organizations to connect their employees to a larger sense of community. The advantages of intranet software in this regard allow you to create a central hub highlighting everything from:
- How your credit union gives back to its community through charitable partnerships and donations
- Upcoming volunteer events that your employees can attend
- A central calendar that highlights all upcoming events
Employees want to be engaged with the community, but sometimes they may need a gentle nudge to get them started. Your intranet can provide that. What’s more, for extra special events, or those that require an RSVP, you can send a Push message to get your employees’ attention.
3. Your intranet allows you to utilize intranet forms
Endless paper documents, emails, and PDFs for member requests can cause a headache for all departments at your credit union. Having one centralized space for forms, on your intranet, can help streamline your workflows and approval processes. With a robust intranet software solution, you get that centralized hub with automated workflows, notifications, and approval processes—ensuring that the correct form submissions go to the right people for approval and sign-off. See how Frankenmuth Credit Union utilized the power of intranet forms in this case study.
4. Your intranet can transform business processes
Modern intranet solutions come with over 100 out-of-the-box apps that give you the power to transform, reorganize, and evolve business procedures within your CU. For example, a “Company Store” app can streamline how you track and replenish supplies, equipment, and branded materials. To help control costs, you can have one company store for the entire organization or have separate company stores tailored for each department.
5. Your intranet gives each department within your credit union a home
Thanks to your intranet, each credit union department can have its own site. Having individual departmental sites not only aids in organization but also allows you to make employees feel like they have an added level of involvement in your credit union’s intranet. Each department can add their own intranet widgets to their department site and store their own useful documents in one place.
6. Your intranet can boost overall engagement
In addition to creating a stronger community, a well-governed intranet can aid in engagement levels at your credit union. According to Quantum Workplace Research, only 50% of credit union and bank employees are engaged with their workplace. You can increase overall engagement by having an intranet that serves as a single source of truth for work, fun, and community. And with powerful analytics tools built right into your intranet, you can track by how much your intranet is boosting engagement levels.
7. Your intranet can facilitate smoother employee onboarding
Onboarding new hires at your credit union can be a hassle if you don’t have an intranet solution! By using your intranet as your primary onboarding tool, you are achieving two main things:
- Organizing the onboarding process via forms, workflows, and documents that live on your single source of truth
- Building muscle memory in your new hires to begin relying on the intranet as the central place to seek and find information from day one
8. Your intranet can improve employee retention
Employees are job-hopping more than ever, and that trend only seems to increase yearly. You want happy employees at your organization, and the time and money you invest in hiring and onboarding will have a long-lasting ROI during their tenure. Using an intranet can speed up many business processes, increase engagement, and drive a sense of community—advantages of intranet we have discussed above. Moreover, when these things occur, it results in a happier workforce and a workforce that sticks around a lot longer!
9. Your intranet can help you stay ahead of trends
Investing in a modern intranet solution today means you’re prepared for tomorrow. As the workplace evolves and becomes more digital, your credit union will need to stay on top of trends and investing in a good intranet too late can be costly and hard for employees to adopt. Get a head start on your digital workplace and see ROI sooner than most.
10. Your intranet can help to provide a better customer experience
Of course, your intranet has many internal benefits. Still, one of the essential advantages of intranet software for credit unions is how they streamline processes that result in quicker customer wait times. Many of IC’s credit union customers use their intranet to streamline forms for loan and lien approvals, credit and debit card approvals, and new accounts for their members. When you use a robust software solution, you not only make your credit union a better place to work but also a better place to bank.