SAN ANTONIO-There's a bottom line benefit to be had when employees and prospects understand the full value of their benefits program, according to one person.
CUNA Mutual's Mike Roche and Brad Pricer told the CUNA HR, Training & Development Council that its time to start thinking aobut "human capital management." Roche, employees benefits specialist, and Pricer, HR process leader, said doing so can mean a stable, talented and energized workforce.
In addition to the challenges faced by HR leaders, employees also are often confused or not engaged in benefits-related decisions. Simplifying human capital management acknowledges that employees are not all the same, which forces you to provide them choices, Roche said. "It aids in analyzing workforce strengths and vulnerabilities and identifies opportunities and strategies to proactively manage employees."
Roche suggested offering a good voluntary benefits program coupled with clear communications that articulate the personal benefit they receive. "These efforts will help your credit union attract and retain talent, which directly impacts the bottom line."
Pricer said credit unions should get away from the traditional metric-based approach when analyzing the state of their human capital, saying the intangibles make such measurements imprecise. A simpler approach, he said, is to more easily define the strategy and identify needed resources. "This allows you to quickly explain HC needs to C-level management or the board of directors and where resources should be targeted."
