PANAMA CITY, Fla.– Innovations Financial Credit Union has launched an internal competition among employees called “SPARK TANK Challenge” that it said is designed to propel process improvements within the credit union.
“This exciting program empowers participants to unveil innovative ideas and strategies to enhance efficiency, productivity, and cost-effectiveness,” Innovations Financial CU said. “By instilling a culture of continuous improvement, the competition not only champions positive change but also cultivates staff collaboration and engagement.”
According to the $396-million credit union, the SPARK TANK Challenge invites employees to brainstorm and implement solutions for everyday challenges, making operations more streamlined and member focused.
How Competition Will Work
“The competition unfolds over six weeks, each dedicated to a specific phase,” Innovations Financial explained. “Process identification and research already began in late August. The week of Oct. 2nd, teams will present their proposals to judges in a 'shark tank-style’ format. Judges will then evaluate their innovation, potential impact, feasibility, presentation quality, and collaboration.”
The credit union said the SPARK TANK Challenge not only encourages employees to think creatively but also prioritizes simplicity. Innovative ideas that lead to practical improvements will be celebrated, with bonus points awarded for effective teamwork.
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