While no two credit unions are alike, there is one thing they all have in common: challenges with recruiting, retaining, reskilling and replacing staff. Attracting qualified talent is a top concern today say 67% of bank executives and 63% of credit union executives, according to a survey by Cornerstone Advisors.
The bottom line: There is simply too much work and there are not enough workers to do it. Sanctions alerts still need to be processed (more on this below), emails need to be returned and regulatory compliance still needs to be ensured. This all places a new burden on existing staff—leading to increased errors and employee burnout.
The ability to “hire” artificial intelligence that works 24/7/365 can be a game changer for credit unions as they manage the staffing squeeze.
Finding qualified candidates
The first phase of recruitment consists of simply finding the right person, whether for an entry-level role or an experienced role. However, post-pandemic, organizations are still struggling to find candidates.
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