There is an abundance of data that demonstrates diverse leaders can add quantitative value to organizations. In the U.S., that means seeking out women and people of color for leadership roles, as well as candidates possessing traits that are not as readily ascertained visually—veterans, different physical capabilities, or varying gender and sexuality, for example. Many organizations are embracing this perspective, but beyond the early steps of identifying the need, successfully attracting, selecting and onboarding diverse top executives, credit unions must also invest effort in retaining this coveted talent.

Retention is critically important in order to reap higher rewards, and like the hiring organization, executive recruiters have a vested interest in the success of the new leadership hire and their performance. When a recruiting firm like DHR International is selected to find an executive, the goal is to secure the “right” person technically who is also a cultural fit with the organization. This upfront approach with clear objectives has worked consistently well in attracting top talent to the client organization and their successful placement. Below are a few best practices to retain them.

Communicate their value to the organization. By definition, top talent performs at a high level. They drive volume, profit and results, live the values, engage their team members, reinforce and encourage a safe work environment, and more.

Other than the annual review or bonus discussion, in many instances this talent has limited reinforcement of the value that they provide to the organization. Your best team members need positive reinforcement and constructive criticism at all levels, including specific examples. This enables them to build on their strong skills and know that their value is recognized.

 

continue reading »