Making Sure You Have the Right Leaders in the Right Seats

  • Share:
strategy

Making Sure You Have the Right Leaders in the Right Seats

Look inside the box

Change rarely comes easily, so when you’re in the throes of a leadership transition and seeking viable replacements, it makes sense to consider internal candidates first. They should already be a stronger culture fit since other credit union employees are familiar with the individual and know what to expect. And credit union leadership has the advantage of familiarity with the internal recruit’s work ethic, social prowess and competencies.

CU Solutions Group’s Strategic Advisor Eric Schornhorst partners with credit unions all over the country developing strategies to boost engagement and productivity as they undergo transitional change.

“If you have viable candidates who may not be ready for a top-level position but want to invest in grooming them, then we would work with them for a few years to keep them on track and develop their leadership skill sets,” Schornhorst said. “We anticipate concerns such as: Does the credit union have viable candidates? Do they want to choose from internal candidates only or go outside the credit union?”

He adds, “It’s important to consider ramifications of going outside — first off, that could leave those internal candidates who were passed up feeling slighted. Second, it may have a negative impact on the culture — such as uncertainty and low morale.”
 
CUSG Strategic Advisors approach transitional leadership by facilitating a participatory session with the credit union’s top executives. In cases of vetting candidates for the CEO position, they help the credit union narrow the field of candidates by identifying a few contenders (internal or external). Then they assign the candidates a series of questions to expound on, including their vision for the credit union under their leadership.
 
“We work with the board as they review the answers to determine if any positives/negatives stand out or surprise them,” says Schornhorst. “Then, we determine next steps such as does leadership want to interview all of these candidates in person or narrow the field further? Once the candidates are chosen, they are interviewed in person, and more than likely, asked to do a presentation.”

Concern about cyber threats and availability of key skills

Candidates are scored based on criteria tailored to the credit union. To prevent bias from seeping into discussions, the advisor will facilitate the session, steering the group towards an objective consensus. Once the candidate is agreed upon, the facilitator also helps to craft an offer letter to the candidate of choice. 

As you narrow your search for the right-fit candidate, you will be defining what characteristics and abilities are requisite to lead you into the next era. With big banks’ money, fintech firms and big tech companies invading credit union territory, the next generation of leaders will be confronted with complex, evolving challenges. You will need a leader who can navigate disruption and advance your mission, one who will pivot as needed and strive to:

When CEO succession is the transition priority, the board drives the effort by ensuring an effective transition plan is in place and well communicated in a thoughtful and intentional way. The board’s role is to support current leadership and the entire organization as it goes through the transition and encourage the development of qualified candidates to fill critical positions.

  • Share:


« Return to "Trends"
TrendScan logo
<< Back to Articles

Latest Trends

  1. Opportunities and Risks of Banking for Marijuana-Related Businesses
  2. Experience Company Growth and Discovery with Employee-Driven Communication
  3. Should You Still Be Concerned about ADA Website Compliance?
  4. Become a Tax Resource for Members
  5. The Member Service Experience
  6. Building a Website with the User in Mind
  7. 5 Things Credit Unions Can Learn from Cyber Attacks
  8. Don't Get Snagged on ADA Compliance Requirements
  9. Are You Ready to Adopt a Continuous Performance Management System?
  10. What Is a DDoS Attack and Why Should Credit Unions Be Concerned?
  11. Anticipating Change with a Succession Plan
  12. The Role of HR and Hiring Managers in the Candidate Experience
  13. The Planning Process - Improved
  14. The Performance Management Conundrum: Structure vs. Creativity
  15. Are You Properly Rewarding Your CEO?
  16. Consumer Attitudes Toward Digital Advertising
  17. Learning Management Systems: What Credit Unions Should Consider
  18. The Quest for a One-Stop Shop Financial App
  19. Is Your Executive Compensation Still Appealing?
  20. Content Marketing: Well Worth the Effort
  21. Credit Unions Could Replace Predatory Lenders
  22. What Credit Unions Should Do with Ambiguous ADA Standards
  23. Americans' Lack of Financial Literacy Is an Opportunity for Credit Unions
  24. Volunteer and Young Board Members Need Development
  25. 7 Tax Changes Your Members Need to Know About
  26. Credit Union Compensation: Philosophy or Strategy?
  27. Your Social Media Accounts Deserve Quality Content
  28. Continuous Performance Management is Disrupting HR
  29. 3 Website Design Trends for 2019
  30. How Useful Are Member Personas for Credit Union Marketing Teams?
  31. What's Hot in Performance Management Technology
  32. Cut Through the Noise and Deliver Value Members Want
  33. 3 Succession Plans Your Credit Union Needs
  34. The Website Audit Your Credit Union Needs
  35. The Importance of Creating Quality Content
  36. What Borrowers Wished Credit Unions Knew
  37. Just How Distracted Are Consumers?
  38. Consumer Appetites in Mobile Innovation
  39. Optimizing Websites for Voice: What You Need to Know
  40. Why You Should Invest in an Applicant Tracking System
  41. Selling Payments and Wealth Management Services
  42. Why HR Should Take Advantage of Employee Self Service
  43. Shifts and Trends to Know About in E-Learning
  44. 3 Key Factors for Creating Good Content
  45. Build Up Membership Through Supportive Savings Programs
  46. 3 Ways Credit Unions Can Prepare for a Cyber Extortion
  47. Popular DDoS Mitigation Methods in 2019
  48. Wanted: Apps for Clarification and Simplification
  49. Do You Know Why Payday Loans Are Used so Much?
  50. The Win-Win Results of Prize-Linked Savings for Credit Unions and Members
  51. The Quickest Way to Understand Enterprise Risk Management (ERM)
  52. Prioritizing the Credit Union Employee Experience
  53. People Analytics: Bringing HR and Data Together
  54. 2 Big FinTech Goals for Credit Unions
  55. Preparing a Transparency Communication Plan
  56. Preparing for Compensation Transparency
  57. The Credit Union Advantage for the Digital Customer
  58. 5 Guideposts to Measure Your Brand Promise Against
  59. A Simple Way to Unify Your Marketing Efforts
  60. Keeping Up with Digital Lending Convenience
  61. 6 Factors for Choosing the Right ESS System
  62. Is Your CMS the Right Fit?
  63. 4 Steps to Increased Social Media ROI
  64. How Credit Unions Can Formalize the Branding Process
  65. Are You Missing Out on the Power of Video?
  66. Making Sure You Have the Right Leaders in the Right Seats
  67. What the C-Suite Wants out of Social Media
  68. Identifying Marijuana-Related Businesses
  69. Are Your Landing Pages up to Snuff?
  70. Content, Tools, and Channels to Capture Consumer Attention
  71. The Best Compliance Training with New Topics You Will Need
  72. How to Identify What You Want in an ESS
  73. The Dream Team for Successful Online Customer Interactions
  74. Empowering Employees and HR with the Latest Technology
  75. Credit Unions Can Compete with Shadow Banks
  76. How to Generate Content with Fewer Resources
  77. Caution: Customers Don't Always Ask for What They Want
  78. How Credit Unions Can Embrace Storytelling in Marketing
  79. If Your Site Isn't Mobile Optimized, You're Losing Out
  80. Don't Underestimate the Power of Financial Education
  81. Protect Your Credit Union with a Website Accessibility Response Plan
  82. 3 Factors Impacting Credit Union Compensation Plans
  83. Don't Undervalue Your Brand Promise
  84. A Content Management System Will Make Your Life Easier
  85. Serving the Underbanked and Millennials
  86. Why You Need ERM in Your Strategic Planning
  87. Leveraging Social Media for Member Engagement
  88. Underestimate the Onboarding Process at Your Peril
  89. Finding the Best Platform for HR Technology
  90. 3 Brand Promises Credit Unions Can Learn From
  91. Enterprise Risk Management — Where to Start
  92. Bankers associations’ opposition to mergers does a disservice to member banks and to consumers
  93. The Quickest Way to Find the Right (and Safest) CMS
  94. Is Your Credit Union Supported by the Four Pillars of Digital Banking?
  95. Omnichannel Delivery: Banking Based On Members
  96. Achieving the Golden “Narrative Transport” in Brand Storytelling
  97. Remaining a Player in the New Home-Buying Experience
  98. The Easiest Way to Deliver Content for Employee Development
  99. You Know You Need an LMS — Now What?
  100. Predict the Future of Mortgage Lending with Analytics
  101. The Secret to Future-Proofing Your Organization
  102. You Might Already Have the Solution to Your Current Talent Competency Gap
  103. The Process of Crafting a Relatable, Moving Brand Story
  104. Americans Trust Their Financial Institutions for Tax Advice
  105. Credit Unions Have an Opportunity to Help Their Members Through Tax Season
  106. Leverage the Resources of Trusted Experts for Tax Season 2019

Related Trends

  1. The Secret to Future-Proofing Your Organization
  2. You Might Already Have the Solution to Your Current Talent Competency Gap
  3. Bankers associations’ opposition to mergers does a disservice to member banks and to consumers
  4. Enterprise Risk Management — Where to Start
  5. The Quickest Way to Understand Enterprise Risk Management (ERM)
  6. Why You Need ERM in Your Strategic Planning
  7. Opportunities and Risks of Banking for Marijuana-Related Businesses
  8. Identifying Marijuana-Related Businesses
  9. The Best Compliance Training with New Topics You Will Need
  10. Anticipating Change with a Succession Plan
  11. Is Your Executive Compensation Still Appealing?
  12. 3 Succession Plans Your Credit Union Needs
  13. Credit Union Compensation: Philosophy or Strategy?
  14. Learning Management Systems: What Credit Unions Should Consider
  15. 3 Factors Impacting Credit Union Compensation Plans
  16. Making Sure You Have the Right Leaders in the Right Seats
  17. Shifts and Trends to Know About in E-Learning

Industry insights
to your inbox!

Subscribe