Because of their “people helping people” ideals, credit unions typically attract more dedicated employees than the average organization.
Still, in a rebounding marketplace, employee engagement is increasingly important for every business.
“Making engagement happen will be the business challenge of the next decade and a focal point of the emerging talent imperative,” says Aon Hewitt in “2014 Trends in Global Employee Engagement.”
Only 16% of American workers are “fully engaged” with their company, carrying an emotional commitment that extends far beyond simply drawing a paycheck, according to modernsurvey.com.
Meanwhile, about 35% of U.S. companies report increased turnover, indicating that more people are thinking about taking jobs with other companies. Consider also that as baby boomers step aside, they’re often replaced by millennial, who came of age in a culture of job-jumping.
What can your credit union do to retain its top performers?
Nothing trumps having strong leaders who inspire others and create a culture of growth and development, research indicates. The goal is to retain employees who “say, stay, and thrive”—as in, comment positively about working at your credit union, value their jobs, and want to exceed expectations.
To assess and shape your staff, consider heavier use of workforce analytics to address retention and talent gaps, and rely more on mentoring, training, and development programs.