By Ray Birch
MADISON, Wis.—Credit union leaders must be more “adaptable” than ever, says CUES, which outlined why that skill is needed most among credit union executives.
Chad Helminak, VP of talent development programming at CUES, explained that when it comes to the skills credit unions are looking for, beyond typical requirements, they are seeking people who adjust well—and quickly—to change. He said that ability is critical as the choice and complexity within financial services grow.
“Just the dynamics and pace of change we're all facing—it requires a conscious effort to excel in today’s environment,” he said.
Helminak said that being a continuous learner is table stakes, adding that executives can no longer reach a certain level of competency and become comfortable there, even those who enter the industry with a great deal of skill.
Change Central To CUs
Helminak emphasized change has become central to the credit union business model, and that the notion that things will get “back to normal” no longer applies.
“There's just so much new in every facet of every department and organization,” he said.
Chad Helminak
But Helminak cautioned that as organizations deal with and accept change, they can’t lose sight of cornerstones.
“One question credit unions must be asking themselves in this environment is what are the things that must change, and what are the things that absolutely must not change,” he said.
But as credit unions focus on their executives’ skills, Helminak reminded the organization should, too, focus on the skills and advancement of all staff. Turning to an issue that has become central to many credit unions, Helminak said CUES is focusing on how it can help credit unions become better with succession planning throughout an entire organization.
Don’t Just Reinforce The Top Level
“To make sure that we're not just reinforcing the top level of the organizations but we're keeping people invested in the credit union and growing in the credit union,” Helminak said.
The entire organization must feel connected with the purpose of the organization, Helminak said, pointing to McKinsey data.
“A McKinsey study completed a few years ago shows that 85% of CEOs and senior-level leaders across all kinds of organizations feel connected to their purpose,” Helminak said. “They can see how their purpose intersects with the work they do. And when you look at mid-level and frontline folks, asking that same question, the results are inversed—15% feel like they're connected to their purpose, whereas 85% feel like they're lost.
“There's an opportunity for leaders to help their teams see the forest from the trees and make those connections themselves,” continued Helminak, saying a stronger connection to a CU’s purpose provides greater clarity and trust throughout the organization. “Maybe they give people more ways to consider the strategy and how they fit in. The piece of how we connect with the purpose of the organization is something we have our eyes on here at CUES. It's that steadiness that we all need to manage through and see that light at the end of the tunnel. But credit unions have this great opportunity because we have this great purpose in our business.”
As organizations grow, it becomes much more difficult for them to “see” across the different parts of their business, Helminak said.
Leaders must be able to see and pay attention to “the connective tissue” and realize things that seemingly are conflicting, and maybe even are creating friction in their business—for example the adoption of technology versus human employees—needs to come together and work together in order to be effective,” he said.
“At CUES we're helping credit unions to make those connections,” Helminak said. “It's been really rewarding. We're seeing deeper knowledge of the business around how things, behaviors, and decisions intersect, and align around a core purpose and mission of the credit union…So, bringing that together.
“We're looking at our education programs, our products and services and making sure we are addressing these things I talked about,” continued Helminak. “It's really a framework for not just looking at our offerings to credit unions in terms of education and upskilling, but it's also giving credit unions a chance to say, looking across their organizations, what are the skills and levels of skill they need at different points and parts of the organization. That's a that's a huge focus for our talent development strategy right now .”
CUES, Helminak said, is seeking credit union leaders to partner with it on this effort. The organization is looking to integrate focus groups into its work to “bring the credit union voice into what we're building. What we're trying to avoid is building something in a lab and then bringing it out, versus building alongside the credit unions that we serve. So far, we're getting a great response and the work is very promising.”