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Tag: Dream Job


Executive Hires: Are you Missing Out on Great Candidates?

Is there such thing as the perfect candidate? As an employer, during your hiring process, this is a question you should ask yourself. If you have a long list of qualifications that are required to fill this position, you could let a potential candidate slip through before you even get to the interview stage. Usually, the final candidate hired will not tick every box you once had at the beginning of the process.

Teachable candidates with the necessary technical skills, who are a culture fit should be your ideal contenders. If a candidate is lacking in an area where they can be trained and developed, they should not be overlooked. It’s hard to find quality talent especially in a competitive market, being flexible and transparent can help with attracting the candidates you want.

As an employer, you want to stand out amongst the competition, making personal connections with candidates could identify their management style and how they will fit within the company. Think outside of the box, try not to focus on the minute details of the requirements. The perfect candidate is not out there but finding the right candidate can be done!

Recruitment and CEO Selection for Credit Unions

Working cohesively with the Search Committee of the Board of Directors as a recruitment firm is crucial during the recruitment process. While the relationship between the Board of Directors and the recruitment company is an obvious factor, the bigger picture is finding the right successor.

Making a significant succession decision means a lot of details have to align – A thorough understanding and identifying the core competencies needed to prosper in the position; realization there is not the perfect candidate that will meet a whole laundry list of requirements; and objectivity about candidates a whole, not focusing entirely on who and where they are coming from – including external or internal candidates.

While recruiters can be an essential part of the process, ultimately, each member of the Board of Directors has to be content and satisfied with their decision. Pinpointing the needs of the credit union and who will lead the culmination of the internal transformation process should be the main objective of the Board.

Each credit union is unique, and their search for a new leader is not ‘one size fits all.’

 

New Year, New Career

It’s the beginning of a new year; with all of the ambiguity going on in the world, is it a good time to make a career change?

Self-reflection has been a focal point of the past year; with the uncertainty of the job market; many are adapting and learning new skillsets. New skillsets mean new potential candidates, as more people are switching and adjusting to different industries. People are more willing to move, and geographical obstacles are seemingly non-existent when it comes to new opportunities, as virtual interviews make the transition easier.

Businesses need to be creative in attracting this new potential talent pool. From remote work to flexibility with schedules and changes to work habits – these all have made the corporate setting a thing of the past. Malleability to this new business environment is crucial to ensuring your employees are at ease; however, the virtual aspect ensures conversations are more personable with less conflict.

Depending on your circumstances, now might be the best time to reevaluate what’s vital in your career and what you want to do differently. Purposefulness might be the new mantra for the year 2021.

What defines Cultural Transformation within an organization?

What defines Cultural Transformation within an organization?

Facilitating cultural transformation in the workplace is a necessary commitment to ensure employee satisfaction and inclusion. The development of changing the organization’s culture should transform the outlook, policies, behaviors, and practices. Change has to start from executive leaders to assure the rooted, existing culture shifts from the outdated practices to the newly improved values and beliefs.

To get to the root cause of the existing culture, the company should conduct a cultural assessment to evaluate what changes need to be made. The cultural review should consider internal beliefs, such as honesty and integrity, while also examining outward actions like collaboration and information sharing. This valuation should help the business understand and indicate any dysfunction at any level within the organization.

Once executive leaders pinpoint the source, they can then cultivate change and transformation by using mindful behaviors to other leaders and managers to accomplish employee engagement in all departments. For cultural transformation to be effective, every individual must want to change any negative beliefs and values within themselves to the chosen cultural shift.

Retention Strategies for Executive Hires!

Securing quality talent within your organization should include an internal strategic plan. Retention plans for top credit union Executives comprise of competitive salaries, targeted performance incentive goals and retention bonuses, stock options, paid time off, and ancillary allowances and benefits.

Robust, targeted performance incentive plans are successful when implemented at the offer stage/onboarding process, and even more lucrative when these plans align with industry standard. Specifically, quarterly, semi-annual, and annual performance incentives are beneficial at the Executive level and should be established to incorporate non-financial metrics and financial metrics. Non-financial metrics might include engaged members, member survey results, staff turnover ratios. Financial metrics may encompass loan growth and earnings, return on assets, capital ratio, membership growth, net income, and board evaluations (if applicable).

Once you establish the targeted goals, each metric should be broken out to a percentage of the final goal. Non-financial metrics could be 10% of the total bonus, while financial metrics are 90%, it depends on the organization’s focus to meet the needs of its employees and business strategy. Evaluating your Executive Compensation plans should be assessed annually to ensure they are in-line with the industry standard to achieve employee engagement and retention.

Chasing the Money or the Opportunity

Should you chase the money or the opportunity? Well first, ask yourself, ‘Is it the right fit?’ Organizations may pay well, but if they have a high turnover rate and don’t fulfill your career goals, it may be in your best interest to really think it through.

This is an internal dilemma that many people go through. Of course, you shouldn’t undervalue yourself monetarily should a job prospect check all your career boxes, but don’t let an opportunity slip away that could benefit your long-term career development. Success can be subjective, and how it is measured and valued differs from person to person.

Some companies do entice candidates with short-term monetary goals, which can burn out employees quickly, causing high turnover within an organization. It may not be in your best interest to weigh opportunities based on compensation alone; career advancement, skill development, and passion should be considered. Chasing short-term benefits could prove unfruitful in the long-run, and you may not want to look back and wish you would’ve done things differently.

The Offer

You’ve reached the final stage in the recruitment process, the offer – After the application and multiple interviews, you landed the job!

Generally, the incentive for candidates to move organizations or positions would allow candidates to seek opportunities that will provide a promotion, ability to be a key contributor within the organization, and an increase in pay structure.

When seeking a new opportunity, the motivation to make a change for a new role should be discussed initially, setting the expectations from the onset. Once an offer is extended and accepted, you have agreed to the terms and negotiation ends. Strive to find a balance to determine if a counteroffer is necessary or if it is about its monetary value or the position. Most often, it is the position job seekers are trying to attain.

Organizations have set wage bands for positions based on market and internal value, from minimum, mid-point, to maximum of the salary range. Various other factors could help offset any wage bands misalignments when pursuing a job offer, including sign-on bonuses, targeted variable (bonus) pay, allowances, paid time off, supplemental retirement plans, and additional benefits.

These are all part of the equation when evaluating your next opportunity!

Creating a Recruitment Talent Campaign

 

When trying to attract top talent, the vacant position must stand out amongst the clutter of other eligible opportunities. Establishing a talent recruitment campaign allows both employers and employees to actively align goals and interests in a cultivating way.

Setting clear and measurable goals can be a great start when creating any recruitment campaign. Asking questions like “How many people do we want this to reach?” or “By what margin do we want to increase our overall audience?” allows for quantifiable marks to be set and evaluated throughout the process. When objectives and the end goal is understood, it determines the success built before and achieved after recruitment.

Determining the audience should be the second part of the campaign. It is important to develop a unique communicative platform through company culture videos, social media promotions, evaluating and reviewing glass door reviews and provide community-related blog posts. This will allow prospective candidates to evaluate the value proposition of the company and be the center of any talent recruitment practice.

While those platforms should exhibit the culture, they should also integrate a call to action. A call to action clearly separates the recruiting pool from those that are curious and those that are serious. It should be visible on all facets of communication with potential employees and should be direct and explanatory – providing further insight or action to those that interact.

Talent campaigns are meant to be unique to the position or organization. While every business may be using the same platform to get their message across, influencing those platforms to align with the goals that were initially established will provide recruits with an understanding of what the company has to offer and how they will be part of the success, and significant contributions to the future of the organization.

Employee Company Reviews – how important are they?

Employee reviews can reveal a lot about an organization. Do you know what your employee reviews say about your company?

Sites such as Glassdoor and Indeed provide direct employee feedback about companies which can either make or break the recruitment process. Scouting for talent, in most cases, has a direct connection to how a company is perceived by its employees. So, how can organizations stay on top of these reviews and use them to their advantage?

Turn the critical reviews into opportunity! It is best to dedicate the needed time to monitor your online brand and use this feedback to make a difference in the company’s culture. Knowing the honest, and sometimes, painful truth about how employees discern their time within the business can help strengthen the structure of the workplace.

The idea of transparency should not be something to shy away from either. Knowing the ins and outs of a certain position or department and the impression it holds both internally and externally, will give managers the ability to identify weaknesses, be pragmatic and fill in the gaps recognized by employees.

Job vs. Money: What do you choose?

Happiness is characterized in different ways by different people. One person may believe that job satisfaction will lead to ultimate happiness while another, believes that a substantial paycheck will do the trick. So, when the time comes to choose a career based on money or the job, what should the choice be?

It has been found that the “magic number”, which correlates happiness with salary, is $75,000. That is, once a person has reached the $75,000 pay grade threshold, their overall happiness does not have a direct response to anything above that. Adversely, being below that “magic number” causes the opposite reaction and exposes emotional pain points that may affect everyday life. While a high income may not sustain boundless happiness, there is a certain point of happiness that parallels a steady income.

The magic number identifies monetary happiness, however, taking into consideration the enjoyment in the work that is done day in and day out is also a major factor of happiness. The interest to advance and make an impact on the company and an individual’s life comes with having satisfaction in what a position entails. Understanding personal goals and objectives and aligning them with the company’s, opens the door to advancement and longevity, ultimately translating into financial success.

The driver of success and happiness – personally, professionally, financially – stems from the effort to directly shape our own lives. The human ability to find happiness and be successful in every aspect derives from creating an enjoyable life, which can’t be found by chasing a paycheck. While a high income may bring immediate satisfaction, the feeling will eventually fade and no tangible feeling of accomplishment will be had. Take the time to establish a prosperous life because the benefits of the work put in will follow.