ANAHEIM, Calif.-It's not getting the same attention as the wave of new regulation, but the new CUNA HR/TD Council chair said it's another wave CUs need to be concerned about: the surge of baby boomers retiring, creating an undertow of talent at the top.
"One of the things we talk about in the executive committee is succession planning," Suzanne Oliver told Credit Union Journal during the Council's recent conference here. Oliver, who is SVP of educational services and governmental affairs for $3.5-billion Mountain America Credit Union, West Jordan, Utah, said choosing a CU's next CEO encompasses development, culture, strategy and a number of other factors senior management teams need to be aware of. "We have to have the right people in the credit unions to lead us and be successful."
And it starts with hiring process, even when it comes to hiring someone for a starting position, she said. "The new people are either going to help us or hurt us," she assessed. "They need to be a good fit-and this concept has never been more critical for all credit unions."
Oliver said the HR/TD Council appreciates the growing realization by CEOs and CFOs that human resources and training play a "huge part" in the success or failure of the credit union given the increased demands.
"The credit unions that are the most successful put importance on the people side," she said. "They see the need to recruit and hire the best people with good attitudes, then fill in any gaps with training."
Instead of hiring someone with teller skills and experience, the new philosophy is to look for employees with the ability to make eye contact, smile and connect with people, and then teach them teller skills and train them to use those people skills to engage members and cross sell.
But it's not just turnover at the top or a change in hiring philosophy that HR people are concerned about-it's also a change in something that used to be considered an old standby: healthcare benefits.
"We still do not know the ramifications of [the Affordable Healthcare Act]. We have to be as proactive as we can to stay informed," she said. "We need to know the impact on the credit union, on our employees and, ultimately, on our members. It is never going back to the way it was, it will be different going forward. We have to look at what we can do and how we can make a difference."
