Holistic strategy: Just what the doctor ordered
by. Holly Arter
To be a good strategic planner, you have to think like a doctor. Why? Because a good physician evaluates all aspects of your health before making a diagnosis and prescribing a course of treatment. Similarly, it’s important to look at your credit union’s performance from several angles. If you don’t, you might find yourself simply putting a Band-Aid on processes that aren’t working or treating the symptoms rather than treating the actual problem.
Grab your stethoscope, put on your lab coat, and see how healthy your credit union is from these four perspectives:
Physical. Think beyond your branch infrastructure and take a look at all of your delivery channels, including online and mobile. They’re all part of a tangible experience for your members. What do you know about member usage and the effectiveness of your delivery channels?
Mental. How smart is your credit union when it comes to using financial performance metrics? And how smart are you about what your competitors are doing? Thinking critically about both of these aspects is important.
Emotional. Are your employees feeling the love? Having a positive internal culture is contagious: it leads to a better member experience and to better performance overall. This health check isn’t just about having fun at work, it’s about having the right people with the right skills and attitudes in the right roles.continue reading »