EAU CLAIRE, Wis. – Royal Credit Union has named Nicole Wilson to a position that is still relatively new within credit unions: Vice President of Organizational Talent Services.
According to the credit union, Wilson will be responsible for developing and executing talent management strategy in support of Royal’s Core Purpose and Values, organizational strategy, and business goals, specifically in the areas of total rewards, performance management, attracting and retaining high impact talent, team member relations, organizational development, succession planning, corporate culture and engagement.
Wilson began working for Royal in 2002 and has spent the last three years serving as its Organizational Talent Services Manager.
Below, Wilson shares insights into the position and what’s involved and why as part of CUToday.info’s The Corner series.
CUToday.info: What is your primary role with RCU, and how has the position evolved or changed?
Wilson: Royal Credit Union has evolved its organizational talent services to focus on being proactive versus reactive. This type of organizational change does not happen overnight, this process has been an ongoing focus for over three years. My new position, Vice President of Organizational Talent Services, was developed to reflect those changes and lead continued progress in the field. I currently oversee talent management (recruiting, performance management and relations), total rewards (benefits and compensation), team member communication, recognition and engagement, and organizational development. These important areas play a key role in our recruiting efforts and also help keep team members actively engaged and working together to achieve our organizational goals.
CUToday.info: What is involved, what are the components of a “talent management strategy?”
Wilson: The main component of our talent management strategy is ensuring that strategy aligns to our core purpose, core values, and long-term strategic business goals. This is an important focus because all team members must understand that we are all working towards a common purpose and goals. A recent team member engagement survey shows our efforts are working. Ninety-nine percent of Royal team members responded favorably to the following statement: Royal Credit Union has a clear core purpose and values that team members know about and understand. Talent services is the first touch point for team members new to our organization, it’s important that we clearly define our purpose and values and show them how their contribution will play a role in our success as an organization. Beyond new team members, it’s important that we work to keep clear and consistent messages in front of all team members. In order to do this we are constantly evaluating our talent management scope to ensure alignment and synergy.
CUToday.info: There is considerable discussion around the hiring and employment of Millennials. What are your thoughts here, does RCU do anything specific related to Millennials (and then by extension, other employees?)
Wilson: Royal focuses considerable effort in our hiring to identify talent that aligns with our core values. This has been a shift for us and a strong focus in our hiring in 2014 and 2015. Millennials have a strong desire to work for values-driven organizations. We keep the values front and center – they are a focus in meetings, carry significant weight in performance reviews, and are the foundation for our recognition program. In addition to hiring for our values, we have implemented talent reviews and succession planning. This is not just for Millennials, but a desire for all team members. It’s important to create a culture that promotes career development and continuous learning. By investing in our team members we keep them engaged. That benefits our Members. Engaged team members lead to highly satisfied Members. In fact our team member engagement score rose to an all-time high in 2015, our engagement score is at the 98th percentile, up from 90th percentile in 2014.
Designed specifically for Millennials, we have an active young professionals program at Royal. The group meets regularly, completes community service projects and offers opportunities for Millennials to learn more about the credit union industry to support professional growth.
CUToday.info: What does it take to recruit the “right” people now, how does that support “Royal’s core purpose and values,” and what do you mean by “total rewards?”
Wilson: We recruit the right people by asking the right questions during the interview process. The questions we have developed are directly related to our values. These are not questions with simple yes or no answers. Applicants are asked for specific examples of how and when they’ve demonstrated our value statements. We are also dedicated to continuous improvement and work to beat ourselves. We look for individuals who can show a commitment to this culture.
Total Rewards include not only Royal Credit Union’s benefits, time off, and compensation but also our work environment, engagement, community give back, and other ancillary benefits. This year we created Total Reward Statements to show in one document Royal’s contributions to team members, communities and the positive benefits we offer. It’s a good reminder for our team members to see that information all bundled together. In order to ensure we remain leaders in the field, we regularly compare our Total Rewards to other top performers in the market to ensure we are staying competitive.
CUToday.info: For other credit unions that are reviewing or rethinking their approach to talent/personnel, what advice do you have?
Wilson: First, make communication your top priority. It’s important to be as transparent as possible in order to gain the trust of your team. Make sure to share progress with them and ask for their input. This practice should be established through leadership from the top down.
Another key element is to ensure everything your organization does is aligned to a purpose, mission, or vision. Corporate decisions, business processes and goals should be a direct reflection of what your organization is about. You should involve hiring leaders and staff in the process used to establish a purpose, vision or mission. We used this process at Royal Credit Union and as a result of that involvement and subsequent buy-in, we are truly able to live and breathe our core purpose and values.
Accountability is also extremely important to the success of an organization. Performance management needs to tie into this accountability, even for your top leaders. It’s so important to “get the right people on the bus,” and it’s ok if some self-select out of the organization. It allows you the opportunity to get fresh eyes on board and keep the organization moving forward.
Finally, invest in your people by developing and challenging them, they will feel a valued part of the organization and purpose. Talk to your team members and find out where the pain points are, externally as well as internally, and be willing to listen and hear the realities. Then be determined to improve on them one by one. It’s a process that does not happen overnight, but over time you’ll see the evolution.