Finding Leaders

As credit unions continue to strive to be successful, challenges posed by an ever-changing economic and regulatory environment make maintaining effective leadership essential.

Plus, an increasing need to upgrade infrastructure to meet growing technology demands and increased concern regarding security risks have caused many institutions to redouble their efforts to find the specialized talent and management capabilities necessary to compete successfully.

Finding the Hard to Find

True leadership is hard to come by, yet to be effective, managers must be leaders before anything else. To ensure new management hires will provide the leadership necessary to address the challenges credit unions face today, hiring managers should look for individuals with the following abilities:

• to lead by example;
• to communicate effectively;
• to mentor and develop new talent;
• to build trust and create a collaborative work environment;
• to delegate; and, finally,
• to make the difficult decisions when  it comes to crunch time.

An effective management candidate must also understand that in today’s multigenerational, multicultural workforce not everyone is motivated by the same things. So a potential leader with the ability to identify what motivates all employees to contribute their very best­—along with innovative thinking skills and the capacity to allow some flexibility in the workplace­—can create an environment where everyone has the opportunity to be a valuable asset to the organization.

In other words, you want to make sure you bring in someone who has the financial services skills and experience necessary to run the business side of the institution. But it is also important to know you are hiring someone for a management position who truly has an affinity for creating a collaborative workplace and a willingness to get his or her hands dirty when it comes to buckling down and putting in the extra effort needed to get things accomplished.

Building an Internal Path to Leadership

In addition to including these ‘must haves’ in your leadership qualifications, it’s important to keep them in mind when filling non-management positions.

Always be on the lookout for candidates who demonstrate these same qualities or express a desire to grow into a leadership role in the future.

While you may only be looking to fill a teller or accounting position at the present time, identifying junior staff members with leadership abilities can help tremendously, should senior staff members decide to move on to another opportunity down the road or in the event of a retirement.

Finding the Right Leadership Fit Takes Resources

A successful executive search­—whether for long-term C-level responsibilities or specialized, interim talent—is intense and requires ongoing attention to myriad details. However, because most credit unions only hire top executives infrequently, it can be challenging to put together the right resources or processes necessary to hire the right management personnel for your CU.

Do you have access to a reliable source for gaining information on candidates who possess the skills you need, not to mention a way to meet and actively recruit them?

Without the proper time, processes and resources, it is extremely difficult to cast a wide enough recruiting net to capture the attention of the best available candidates. Plus, relying on advertising as your main source of attracting candidates limits your interviews to those who have read your classified ad.< /p>

A Successful Search is Heavy on the Details

For these reasons, conducting a thorough executive search for top quality management is not to be taken lightly. Contracting with an established recruiting firm can save your credit union a tremendous amount of legwork by providing sourcing and recruiting techniques for accessing high-potential candidates.

This includes an extensive referral network, a national database of top performers, and recruiters and project managers who are experienced in your specific needs.

Additional advantages include:

• an objective assessment of each candidate’s fit with your culture, compensation and other factors;
• evaluation of the potential financial impact candidates have made in previous positions;
• interview techniques that uncover how a candidate would respond to certain business situations; and robust personality and profile testing for determining leadership abilities.

In some situations, leadership can be developed from within the organization very successfully. However, when the right experience or management style is not available among current employees, credit unions need to have a strategy for looking externally for the right talent to fill any organizational or skill set gaps.

By establishing a relationship with a professional recruiting firm early on, you can develop a partnership with proven professionals who will get to know your CU, its strengths and specific needs, and understand the exact talents and qualities you are looking for in filling key positions.

Then, whenever you need access to the finest talent for any managerial or leadership function, you can expect a smooth, successful hiring process.

Charles Shanley, SPHR, CFS, is EVP/recruitment services at CUES Supplier member and strategic partner JMFA. Contact him at 800.809.2307.