There’s a lot of pressure on leaders today. Pressure to turn things around if you’re credit union is struggling, pressure to stay on top if the last few years have meant growth and opportunity.
Yes, there’s a lot of pressure with so much uncertainty in the marketplace – supply chain issues, inflation, interest rates and the list goes on. As a leader, you’re faced with so many things outside of your control that impact your ability to get ahead or stay ahead of the curve.
The one bright spot is that the one thing you need most, the most critical thing you need to navigate this uncertain marketplace is the one thing you do have control over in this fast-paced, ever changing world.
That one thing? That is your team? Your best defense, and your most important asset is the quality and commitment level of your team.
There is very little that this marketplace can throw at you, that a team full of engaged professionals cannot handle. But ironically at a time when we need our team members to be more engaged than ever, we are suffering from one of the MOST disengaged workforces in history.
Gallup, the leading researcher, reports that 70% of today’s employees are wiling to fill out a survey that says they are interested, not committed and only showing up to get a paycheck. Think about that, that is two-thirds of your workforce.
Now that right there, I think is enough to say “wait a minute, maybe as a leader I need to try a new approach, a different idea, a radical strategy for how I lead and inspire my team”. But if that is not enough for you, then how about this.
Gallup also reported that if you do not change your approach to leadership, if you do not do something different then that 70% is going to climb to 85%. How many of you think you may struggle to hit your goals if 85% of your workforce is checked out, uninterested and only showing up to get a paycheck?
No need to answer – you get it. So why are employees today so disengaged? Why did more than 4.5 million employees resign in November of last year in what the media has termed the Great Resignation?
Because they’re looking for something. They believe there is something better out there. And the leaders that understand that this lack of engagement and this Great Resignation is not a problem, but your greatest opportunity are going to be the one’s to win the war on talent.
3 Must Have Strategies To Turn The Great Resignation Into The Great Opportunity
- Purpose – in today’s marketplace people want to do work that matters, they want to feel like they are making a difference and they want to be a part of something bigger than themselves. In other words, they want purpose. Forget the job description, help every member of your team see, on a daily basis, the result of their work. Purpose is what attracts new team members to you, and purpose is what retains current team members long-term.
- Ownership – once people are on your team and bought into your purpose they want to help your grow your credit union. You have to ask yourself if you are letting them do that or are you shutting them out? You have to understand that what people want is ownership and skin in the game. As a leader, you need to stop telling people what to do and start asking them for their ideas.
- Performance – and last but not least, if you want people to invest in your company then you need to invest in them. Invest in their growth and development, give them opportunities to learn new skills and exceed expectations. If they feel you are committed to their success, they will commit to yours and that of your credit union.
Look, everything about this marketplace has shifted, so doesn’t it make sense your leadership style needs to change too? Your customers, your competition and your employees are changing, so it’s time to open your mind to new ideas and new ways of doing things so you can turn all of this uncertainty into your greatest competitive advantage.