Hiring gets expensive. How can you cut down on staffing costs? Understanding the connection between retaining top talent and a strong organizational culture is key. Candidates who recognize the mission and values of your credit union can better determine whether they’ll be a fit and are more likely to remain engaged. And what’s great for organizations is that highly engaged teams show 21% greater profitability.
Start by clearly communicating your organization’s values to candidates to find employees whose personal values align with the goals of your credit union. How can you do this?
Clearly communicate your organization’s values to candidates to find employees whose personal values align with the goals of your credit union. Share what makes your credit union unique and the professional development opportunities available for staff to grow their careers.
Your staff is an invaluable resource to locate candidates who will fit your company culture. How are you engaging your staff in your hiring strategy? A conventional route has been the use of incentive programs for employee referrals, but have you started connecting with potential candidates through LinkedIn? Not direct recruiting, but rather engaging your staff with what’s happening at your credit union to create goodwill with potential recruits? Share stories about what your credit union is doing throughout the community and for your employees on LinkedIn on regularly to show your organization’s values and mission. And, when your staff is engaged and shares these posts on their profile, you’ll build your reputation within their professional circle.
Employees, at least the ones you want to hold on to, are motivated to perform their jobs well. But, without the right recipe for success, they can get frustrated and leave. Are you providing clear expectations of the actions that your employees need to take to perform a task well? And, are you supporting your expectations with a coaching plan that helps your staff succeed? If not, you’ll want to provide your staff with a clear path to success. Long-term coaching should also focus on your staffs’ career goals and how you can nurture those to keep them growing their careers at your credit union – which brings us to tip number three.
Knowing your staff’s career goals can help you design professional development plans for them. By investing in your team, you’ll reap the benefits of increased expertise and people that know that they matter. Engaging your staff should also involve asking what they value the most about their work environment because no one understands your workplace culture better than your people. You can also empower your staff by giving them an active role in making your organization a better place to work.
Your ideal core values may already be a part of the mission statement of your credit union, but how your members and employees perceive those values in practice is what counts. Their perceptions may not be in sync with your mission and core values. Once you understand these discrepancies, you can make the needed adjustments to align core values and transform your credit union into an employer of choice to continue attracting and retaining top talent.
Connect with member and employee engagement experts to take a deep dive into organizational culture assessments, visit cuna.org/cml.