Building Better Credit Union Leaders

Leadership is the order of the day at the Credit Union Executives Society (CUES) CEO/Executive Team Network, taking place this week in Savannah, Ga., with speakers addressing everything from training strategies to HR challenges, the credit union political landscape and much more.

Fortune Magazine Editor-at-Large and author Geoff Colvin told the audience that the difference between those who perform well and those who achieve world-class status is less about a natural, innate gift and more about practice makes perfect. But that's not to say that it's just hard work, he said. It also has to be the right kind of work – something the experts refer to as "deliberate practice." To qualify as deliberate practice it must be something that it tailored specifically to improve performance in a particular area, it pushes one's abilities just slightly beyond what one's current ability, it can be repeated a lot and it include continual feedback.

Two key messages: this is something anyone can do, and it is entirely applicable to credit unions, Colvin said, noting that Elevations CU, Boulder, Colo., has used this method, creating a mock branch that allows the CU to put its employees through simulations on a repeated basis as part of the training regimen.

Greg Longster, partner at Davies Park Executive Search, Vancouver, B.C., said one of the keys to attracting and retaining top talent is developing a reputation for being an excellent place to work. The first step, he said, is treating all employees really well, such that they will refer friends and family to work there, too. Treating applicants well is also important – communicating with them in a timely fashion throughout the process. "Sometimes you interview someone who just isn't right for that particular job, but then four months later, they're perfect for a new position that has come open – you want them to want to come back when that happens," he said. "You want them coming away from the whole process telling people, 'yeah, it didn't work out, but what a terrific organization.'"

That philosophy should also extend to people who are leaving the organization, Longster said, citing the Deloitte accounting and consulting firm's "alumni club" as an excellent example of a company that maintains strong ties to people who move on to other companies. "And what happens," he asked. "They wind up hiring them back later."