Does Your Leadership Search Criteria Have the Proper Focus?

Sponsored by JMFA.

If you’re like many financial institutions today, maintaining quality leadership is one of the biggest challenges you’re dealing with. As more and more seasoned credit union leaders reach retirement age, I continue to be approached about my perspective on this topic. It’s no surprise that a great deal of time and effort is being spent on finding individuals with the right skills and experience to guide your organization through whatever economic or regulatory circumstances it may encounter going forward. However, I find that too often not enough attention is paid to matching potential candidates to the credit union’s culture.

In an environment based on “people helping people,” I believe that failure to find a candidate with the leadership style, workplace philosophy and team-oriented outlook that complies with the existing culture can result in much more damage to a credit union than the level of his or her financial acumen.

And while financial and/or technical expertise should be considered important qualifications for a leadership position, many of these skills can be taught, but culture cannot. In fact, I have encountered many situations where a client selected a candidate who may not have had the highest skill set but who possessed the qualities that best fit the existing culture with very successful results.

For example, think of a credit union with a very family-friendly culture focused on offering a work/life balance to employees. What would happen to that culture if the new CEO spent many hours in the office, emailed all weekend long and expected to see exempt employees doing the same? Contrast that with a CEO who makes a point of not emailing during off hours (or keeps it at a minimum) and tells staff to enjoy a work-free weekend. Similarly, a sales-focused CEO may struggle in a sales-adverse credit union. If building a sales culture is important to that CU’s strategy, find a CEO who is comfortable leading the staff through a transformation.

For this reason, I recommend organizations consider using cultural match as a screening measurement to increase the odds that a new management hire will:

• quickly assimilate into your environment;
• make positive contributions to strategic initiatives more quickly; and
• earn the trust of employees.

Here are three tips to make sure your next leadership search goes smoothly and results in finding the best match for your credit union:

#1: Know the characteristics you are looking for in a leader.

Be thoughtful when it comes to the specific characteristics needed for the individual to be successful. For example, if your CEO is expected to represent the credit union in a community leadership position or at public functions, look for a candidate who is outgoing and a good communicator. If your credit union is active in local charity work, then an effective team leader who is charismatic and a proponent of philanthropy is a must-have.

Use your social network to emphasize your organization’s culture, mission and values. You can even include stories about your workplace functions, which will help paint a much more accurate portrait of your culture for candidates interested in applying for a leadership position.

#2: Make sure the job description accurately reflects responsibilities.

A clearly written job description can fine-tune your applicants and spell out the type of individual – as well as the work ethic – you are seeking. For example, use terms like “team environment” to describe the daily workplace, and “results-oriented” or “proven track record” to convey that your organization is committed to growth. Plus, consider including your mission statement to stress the importance placed on this aspect of your business.

#3: Always take personality into consideration.

While a candidate may seem like a great fit in an interview, it isn’t unusual for a highly qualified candidate to miss the mark when it comes to a cultural match. Leveraging personality testing into your search process can be an insightful way to determine whether an applicant is introverted or extroverted, a team player or a lone wolf, pleasant or gruff, open to new ideas or close-minded, easy going or uptight.

Don’t be shy about asking candidates to describe their ideal work environment. Get to know more about how they interact with co-workers. And most importantly, find out what characteristics they see as ideal for either their boss or among their management team.

Need Help Getting Started?

If you don’t have the time to identify the exact talents and qualities you are seeking, a professional recruiting firm can help. But don’t wait until an important leadership position is vacated. Establishing a relationship with a professional recruiter will give you the tools you need to identify the exact talents and qualities you are seeking, and provide access to a broad candidate database. As a result, you can maintain your performance momentum and a consistent culture for your employees and your members.

Charles Shanley, SPHR, CFS, is executive vice president of John M. Floyd & Associates (JMFA).  He has specialized in executive recruiting and project management for more than 20 years, developing the skills and insight to quickly locate top talent to improve the client’s bottom line. Shanley excels in all facets of recruitment and has experience for all industries including an extensive focus working with financial institutions. For more information call 866.264.5017 or email Recruiting@JMFA.com.