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Tag: Education


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.

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.

What’s more important – the degree or the experience?

With degrees becoming more and more common, the experience that a candidate brings to the position has taken the front seat in the hiring process. Needless to say, a degree does offer valuable skill important to a candidate’s resume.

The significance of completing a degree speaks to the candidate’s ability to be successful in various life and job-related aspects such as multi-tasking, social interactions, and ethical dilemmas. While the degree title and focus furthers the intellectual aspect of a candidate, it does not necessarily correlate to how much success a person will have within their position.

Experience is considerably the most valuable aspect a candidate can possess. The real-world experience that is transferable to the position in mind, provides far deeper insight as to how the employee will perform in a certain situation rather than the assumption of taught skills in the classroom.

However, a degree should not be any less valuable. Many entry qualifications for open positions specifically highlight the need of a degree to advance. Where the experience begins to overshadow a degree is through the interview process and the ability of a candidate to equate actual experiential moments to the demands of the job.

While the accomplishment of completing the route of higher education is still highly regarded in job recruiting, having first-hand knowledge of the qualifications that are to be expected has started to become the frontrunner when choosing between candidates with virtually similar resumes.