Leadership Matters: Is your organizational design due for a tune-up?

The world is evolving quicker than ever, and financial services are not exempt from these market changes. Over the last several months, credit unions have helped members find new ways to connect by leveraging online channels and redesigning branch experiences. They have deployed employees remotely, and teams are working efficiently and productively. Now, leaders should focus on their organizational structure—how it’s been affected with the changing landscape, how it’s impacting the way work gets done and how it’s preparing the CU for the future. A well-designed organizational structure will improve work efficiency and output, bring more value to members and help employees through future changes in business direction as the financial industry continues to evolve.

Make a Connection to Strategy

Long before COVID-19, the credit union industry consistently delivered exceptional value for members. And now, it’s a more opportune time than ever to evaluate how organizational structure can drive business strategy and an improved member experience. Understanding how your structure delivers on the mission and vision and the strategic plan should be your primary focus. It helps to start by evaluating the current structure and asking questions like: Have projects and initiatives strayed from delivering value? Are there employees whose role has changed and should be deployed to new teams? Clearly defining how departments and divisions impact the mission, vision and values will be imperative as our businesses pivot, ultimately helping employees understand why changes are happening.

 

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