USAA
Executive Summary
The United Services Automobile Association (USAA) specializes in providing insurance for individuals and families of the military community. From auto insurance to renters insurance to flood and life insurance, USAA is there for service men and women who have put themselves on the front lines to serve their country. For that reason, USAA is there to serve them: indeed, the company’s slogan is: “We know what it means to serve†(USAA, 2018). The organization also offers investment products, loans, banking services, advice, mortgage assistance and more. This paper will provide the mission and vision statement of USAA, describe the types of products the organization offers and discuss best practices and motivation techniques used by the company from an employee’s perspective.
Mission
The mission of USAA “is to facilitate the financial security of its members, associates, and their families through provision of a full range of highly competitive financial products and services; in so doing, USAA seeks to be the provider of choice for the military community†(USAA, 2018).
Vision
The vision of USAA is to be part of a world in which appreciation and respect is shown to the military community through services and products like those offered by USAA.
Types of Products and Services Offered
USAA offers a wide range of products and services to consumers. These can be broken down broadly in to the following categories: a) insurance, b) banking, c) investing, d) retirement and IRAs, e) real estate, f) health insurance, g) shopping (online, travel, home, and car). Essentially, these products and services are designed to assist members of the military community with investment decisions, home buying and ownership decisions, insurance plans, banking needs, and savings opportunities.
Insurance
Insurance products include: auto, renters, homeowners, rental, personal property, condo, flood, life, annuities, umbrella, motorcycle/boat/RV, small business, and additional insurance products (USAA Products, 2018).
Banking
Banking products include checking and savings accounts, credit cards, auto loans, CDs, home mortgages, personal loans, youth banking, college products; and their services include credit monitoring and ID protection and a USAA real estate rewards network.
Investing
Investing products include USAA mutual funds, digital investment adviser, stocks and options, ETFs, managed money accounts, 529 college savings, fixed income, and annuities.
Retirement and IRAs
USAA also offers access to IRAs, provides rollovers and transfers, target retirement funds, wealth management, trust services and long-term care.
Health Insurance
Dental, vision and Medicare products are all offered by USAA.
Real Estate
USAA offers competitive mortgage rates, first-time homebuyer assistance, mortgage products, VA loans, refinance services, assistance with finding a real estate agent and with finding a home.
Shopping
USAA also offers access to travel deals, online shopping, car buying services, and home solutions (USAA Products, 2018).
An Employee’s Experience
Best Practices
According to the employee interviewed, USAA excels at providing a great workplace culture. Management is supportive and engaged with workers. The company puts people first and it shows. USAA is truly there to serve its clients, and it starts by serving its workers first. USAA reflects the motto of Richard Branson: “If you take care of your employees, your employees will take care of your customers†(Entrepreneur, 2008).
How Management and Non-Management Teams are Motivated
Management and non-management teams are motivated the same way—through intrinsic and extrinsic motivation techniques. Intrinsic motivation approaches include praise for a job well-done, recognition for contributions made, and positive reinforcement for all contributions. Extrinsic motivation factors include pay raises, bonuses, promotions, and paid vacations. All of these approaches are in line with what Gerhart and Fang (2015) recommend when it comes to motivating workers to put the aims of the organization first and foremost in their minds.
References
Entrepreneur. (2008). Richard Branson: The PT Barnum of British business. Retrieved
from https://www.entrepreneur.com/article/197616
Gerhart, B., & Fang, M. (2015). Pay, intrinsic motivation, extrinsic motivation,
performance, and creativity in the workplace: Revisiting long-held beliefs. Annual Review of Organizational Psychology and Organizational Behavior, 2, 489-521
USAA. (2018). Mission. Retrieved from
http://www.makingafortune.biz/list-of-companies-u/united-services-automobile-assn.htm
USAA Products. (2018). Products. Retrieved from
https://www.usaa.com/inet/wc/about_usaa_corporate_overview_main?akredirect=true
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