Like any other organization, credit unions are constantly trying to figure out how to get the right people in the right jobs at the right time.
With baby boomers approaching retirement and the amount of churn taking place as more employees switch jobs, that task has never been more front of mind for human resource (HR) professionals.
Workforce planning is a tool credit unions can use to determine how to allocate employees in the most efficient way possible.
“It’s the intentional union of strategy and people,” says Jo Ann Romero, president of StrategyWorks Inc. She addressed a preconference session at the CUNA HR & Organizational Development Council Conference Sunday in Fort Lauderdale, Fla.
“We’ve been doing workforce planning for years,” she says. “The only thing that’s different is we have a fairly systematic way of doing it.”
Workforce planning starts with a strategic plan, which provides a clear path of where your organization is going and what priorities are driving your people and strategy.
Romero cites five steps to developing a workforce plan:
1. Conduct a workload analysis. This is the key starting point, Romero says, because it creates a clear picture of the current workload and how your credit union is using resources to complete that work.
To get the best picture, Romero encourages HR professionals to make this a participatory exercise. Not only will employees from throughout the organization contribute ideas, they’ll also understand the reasoning behind any future changes.
2. Assess your current efficiencies. This allows you to recognize where gaps exist between what you have now in terms of skills and people and what you might need going forward.
3. Identify future skills. This looks at your workload and, based on your current gaps, identifies what skills will be necessary in the future to fill positions: “Who are you bringing in and how you make sure you’re bringing in the right people,” Romero says.
4. Identify options to address workforce needs.This is an opportunity to develop a framework to address workload shortfalls, inefficient processes, and actions needed to develop a meaningful workforce plan.
It also shows you what options exist for addressing gaps beyond simply hiring more people, Romero says. It could include professional development and training opportunities, or partnerships with other organizations.
5. Document, monitor, evaluate, and revise. This ensures you have a plan to manage the expected skill loss in the organization and provides a roadmap for future recruitment, development, and training needs.
►Visit CUNA News for more conference coverage, and get live updates on Twitter via @CUNAJennifer, @cumagazine, @cunacouncils, and by using the #HRODcouncil hashtag. Learn more about the CUNA HR & Organizational Development Council, a member-led professional society for credit union executives, at cunacouncils.org.