There are a record number of credit union job openings, and yet, nobody is getting hired.
Just reading this opening sentence has some of you thinking about the minimum wage movement for $15 an hour, and how you can’t compete with the national burger chain down the street. Toss in a year-over-year inflation rate of 8.6% in May – the largest annual increase since December 1981 – and the struggle to find frontline credit union workers just got even more complicated.
Wages (how we pay) alone is a linear way of thinking. Do you need to examine your pay structure? Yes, and you should. You’ve got to be competitive. But it is only one of a three-legged stool holding your credit union back. Let’s discuss the other two.
How We Hire
Earlier this year we wrote an article for our credit unions to use in their internal communications that encouraged their staff to share job openings. It wasn’t a mandate, but a simple ask. If they enjoyed their job of helping others achieve their financial goals, it is certainly an idea worth spreading.
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