Finding the next leaders in your credit union doesn’t always require looking outside the credit union.
Royal Credit Union in Eau Claire, Wis., created a leadership development program that focuses on each employee’s current performance and leadership potential to identify those who may have the qualities and skills to be future leaders.
“We want to bring people up and give them opportunities,” Amy Bauer, Royal’s vice president of shared project services for the $1.7 billion asset credit union, told a breakout session at CUNA’s HR & Organizational Development Council Conference Tuesday.
Team leaders assess each employee and rate their current performance and leadership potential during a talent review. Individuals identified as having high levels of current performance and leadership qualities are then classified as “high potentials.”
While the assessments are done behind the scenes by team leaders, the high potentials are notified and asked if they're interested in future leadership positions. If so, the credit union creates development plans for those employees.
“We don’t look at short-term plans only,” Bauer said. “We build out up to five years.”
The process—which is repeated every six months for members of the executive team and every 12 months for all other employees—not only allows Royal to identify potential in-house candidates for leadership positions, it also identifies employees who may not have leadership aspirations but may need additional development opportunities or challenges in their current positions.
“What we want for all of our team members is for them to fulfill their potential,” said Jan Johnson, Royal’s executive vice president of organizational agility.