Diversity Insight: Addressing DEI in succession planning

Build a credit union that’s more representative of its members—and can better serve them.

The succession planning process is a perfect opportunity to address diversity, equity and inclusion considerations and to build a credit union that is more representative of its members.

“We know that management teams with varied backgrounds, experiences and leadership styles offer clear advantages,” says Garrick Throckmorton, chief product and services officer at TalentTelligent, Winston-Salem, North Carolina. “Therefore, consideration must be given to the diversity that a candidate may bring to any given role, at any given level. We must systematically remove any barriers in our cultures that hinder talent development and utilization.”

Throckmorton adds that often these barriers exist in unconscious bias.

“Leaders often look for successors who have a similar profile as they have, rather than on the objective knowledge, skills and attributes that the role requires. This highlights the need to use a research-based approach to scoring high potentials that mitigates the tendency to overweight the decision criteria that leads to selecting the preferred individual they have had in mind all along.”

 

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