Credit Union Talent Transformation

by Crissy Ortiz, Optimal Talent Solutions

Talent management is fluid and dynamic. The complexities of staying abreast of employment regulations, technology, social media, management of generations, performance development and management, talent acquisition, etc., is a momentous feat. The explosion of activity around these areas have catapulted people management practices to the top of strategic discussions with a goal of winning the best talent and building sustainable relationships with an engaged workforce.

Last month we discussed “employee engagement” as a critical component of attracting and retaining top talent. Let’s dive further into a driving force behind employee engagement, learning and development.

“Globalization, increased competition, complexity, uncertainty, emerging technologies, different generations in the workforce, and a shorter shelf life of knowledge all converge to fuel the need for the constant reskilling and up-skilling of the workforce.”

The key to an effective training program is a blend of both formal and information elements which supports the short and long-term needs of your credit union.

Within a learning organization, formal learning is structured and typically curriculum-driven while informal learning can be defined as semi structured or unstructured learning that is driven by the daily needs of incumbents and occurs naturally on the job through coaching, problem solving, interaction with colleagues, etc.

A progressive learning organization continuously transforms itself to remain competitive.

Organizations with strong learning cultures are:

• 46% more likely to be stronger innovators in their markets
• 34% more likely to acquire market share before their competitors
• 18% more likely to currently be a market share leader in one or more of their markets
• 33% more likely to report higher member satisfaction than other organizations
• 39% more likely to report success in implementing member recommendations
• 58% more likely to be successful at developing the skills needed for future member demand

Creating a learning environment that enables staff to grow and reach personal goals in partnership while achieving business goals will help your employees to remain focused and loyal to your credit union.