Where Will Your Next CEO Come From?

As baby boomers retire in droves, many credit unions are finding the prospect of hiring from within daunting with too many ‘specialists’ in the C suite. It’s just one of the big challenges CUs are facing when it comes to recruiting, retaining and training employees.Credit Union Journal asked human resources experts around the nation to share the top trends, challenges and opportunities credit unions need to address right now.

Rebecca Coakley, director of human resources, The Partnership Federal Credit Union in Arlington, Va., $147 millionCoakley said though smaller credit unions faces a number or challenges in recruiting and retention, these issues can be overcome.“We compete in our market with larger, for-profit companies [that] have more dollars to put into recruitment, and because of their size, are more familiar to job seekers,” she noted. “We counter-act this by telling The Partnership FCU’s story of being a not-for-profit financial cooperative whose core purpose is to serve those who advance and promote the interests of the public. As soon as employees come onboard, we share our vision and teach employees how to provide value through partnership with our members in the communities that we serve.”Still, at smaller organizations, it can be difficult for employees to see how their skill sets fit into the organization’s strategic vision, according to Coakley.”At The Partnership FCU, our core values are directly tied to each employee’s job description,” she said. “Additionally, employees are recognized each month for exceptional performance based on our core values.” It is also challenging to provide remote and telework opportunities at a small CU. “We need our employees to have face time with each other and our members,” Coakley noted. “Though this is a challenge, we are flexible and look for ways that our employees can work remotely to best serve their needs and the needs of our members.” The credit union plans to expand its social media presence to increase its visibility to potential employees. “We believe in providing value through partnership and are always exploring ways to help tell our story and showcase our credit union as a ‘great place to work’ to potential employees.”

Michelle Dearholt , chief performance officer, Nusenda Credit Union, Albuquerque, N.M., $1.7 billionDearholt’s biggest hiring challenges relate to “attracting leaders who have the ability to lead multiple departments versus a specialized focus.” This kind of versatility, “increases business perspective and collaboration within an organization and puts leadership at the forefront of their oversight,” according to Dearholt.Another major challenge is “balancing the needs of the organization [with] the perks and wants of current or potential employees” whether that be skill, environment or communication preferences. “Ensuring we stay true to our credit union principles while becoming an employer of choice requires swift review and action of what our workforce needs to stay engaged,” she noted. But Dearholt also finds many opportunities to improve recruitment and retention, including retention programs and succession planning for senior roles that provide not just a monetary incentive, but the commitment to preparation and development opportunities towards future roles. She also seeks to “connect learning and development to the participant’s and organization’s value system,” which is especially important in developing leadership competencies in younger generations.Another area of potential growth: dedicating time and resources in leadership development “that’s more comprehensive and less of a micro-learning approach.”Some of the principal trends she sees include: the use of “strong leaders” as teachers in employee development initiatives such as workshops, brown bag lunches etc. “to reflect and reinforce cultural expectations of an organization.” In addition, credit unions are generating programs that promote a broader organizational understanding and retention through the use of comprehensive onboarding programs that in addition to technical training, including post-hire assessments. Some CUs are starting to hire employees for their “character” more than their skills. “We can train a willing person, the reverse doesn’t usually work well,” she said.Dearholt also referred to the practice called “department shadows.” “[That is] where an employee goes to a different department from which they work to experience their day and work responsibilities, i.e teller to records,” she explained. “We call it the ‘Take your co-worker to work’ program,” adding that it helps to “improve collaboration and understanding of various roles and ultimately everyone's impact to the organization as a whole.”