SAN FRANCISCO–Visa has announced new research and education programs as part of what it said are its ongoing efforts to strengthen the talent pipeline in the credit union community.
Visa, together with the Filene Research Institute, said it will conduct two unique studies exploring talent gaps in the credit union industry throughout 2018. Visa and Filene will also introduce expanded education opportunities and resources designed to inspire young leaders to pursue careers in credit unions and foster their growth, the organizations said.
“Credit unions are vital to the financial health of our communities and Visa is committed to ensuring the long-term success of these organizations,” said Doug Leighton, head of community accounts, Visa. “Our goal is to introduce opportunities for emerging talent to grow in their career, while bringing fresh ideas and strategies to credit union leadership in order to more effectively serve their members.”
Advancing recruitment research through Filene Research Institute’s War for Talent Center of Excellence, Visa and Filene said they will convene leading academics and credit union experts to study the industry’s talent gap. Filene research fellow, Dr. Sekou Bermiss, assistant professor of management, University of Texas, Austin, will conduct two unique studies in 2018:
- Factors of Talent Attraction at Two Credit Unions: A Field Study: “Despite a large percentage of individuals in the labor force expressing interest in working for a company that makes a social impact, recruiting within credit unions remains a key challenge,” Visa said. “This natural field experiment within a set of credit unions will test the effectiveness of current recruiting practices.”
- Credit Union Board Composition: Desires and Practices: “This research aims to help credit union leadership identify key traits they seek in candidates and define values and soft skills that impact these traits in order to build a diverse board equipped to attract talent with well-rounded backgrounds, ideas and expertise,” Visa stated.
“There remains a gap between credit union leadership and the members they serve. We have an opportunity to leverage people analytics and research to develop the right strategies for attracting, developing and promoting top performers within credit unions, from the front line to the boardroom,” said Dr. Sekou Bermiss, assistant professor of management, University of Texas, Austin and Filene research fellow. “I look forward to continuing research with the War for Talent Center of Excellence and Visa to share insights that help credit union leaders build and grow a qualified talent pipeline.”
The two new studies build on the Center’s first publication authored by Dr. Bermiss in 2017, “Laws of Attraction: Credit Union Recruitment in a Competitive Labor Market.” Credit union and human resources leaders can put these insights into practice with the “Talent Attraction Checklist,” an actionable resource outlining important factors like employee fit, job characteristics and recruiter behavior to consider throughout the recruitment process.