Musings from the CU Suite

Written by Anthony Demangone

You may have read about Marissa Mayer's decision to end Yahoo's teleworking program. (CNNMoney.com).

What?  The move seems very un-Yahoo.  Very un-tech. Very un-trendy.  That might not be a word.

A dumb move?  Not so fast, my friend. As is usually the case, there's more to the story. 

Here's some inside baseball on the move. (Businessinsider.com)

For what it's worth, I support the no working form home rule. There's a ton of abuse of that at Yahoo. Something specific to the company."

This source said Yahoo's large remote workforce led to "people slacking off like crazy, not being available, spending a lot of time on non-Yahoo! projects."

"It was a great way to get Y! to pay you while you put in minimal work and do your side startup."

And then there's this...

"A lot of people hid. There were all these employees [working remotely] and nobody knew they were still at Yahoo."

Nobody knew they were still at Yahoo.  Yikes.

I don't know for sure what happened, but I wonder if Mayer was trying to accomplish two things.  She needs to reduce headcount, and she needs to reset a program that has veered terribly off course.  

I can't speak to the headcount issue, but I can see the value in hitting the reset button.  The stories paint a picture of a Yahoo teleworking program that lost its effectiveness.  People were AWOL.  There was no control.  And the value of the program to Yahoo was unclear.

Mayer, I believe, said enough is enough.  At some point, I bet they'll reinstitute teleworking at Yahoo. And when they do, it will be with better internal controls.

Here's my question of the day for you.  

Is there any program at your credit union that needs a tap of the "reset button?"

***

Let me make you a deal...

If you are a NAFCU member, I'd love to meet with your senior team or board.  As part of your NAFCU member benefits, we now offer virtual briefings. If your credit union has an Internet connection, a computer, and a speaker phone, someone from NAFCU (myself included) can brief your team with an interactive Washington update.  

These free briefings can be tailored to fit your credit union’s specific needs, on topics including:

• Legislative and regulatory updates
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I also love building presentations from scratch.  I've briefed credit unions on risk management, the Bank Secrecy Act, and more.  The talk could be another way to show your examiner how you are managing compliance and strategic risks, while helping your board meet their fiduciary duties. 

So, give it a thought. If you think one of the free briefings would be useful, let me know.  I'd be happy to help.