Archive for the ‘credit unions’ Category:



Low Cost or No Cost Employee Referral Tips

Posted by ron on October 25th, 2009


It has been proven time and time again employee referrals can be the most impactful source for hiring – in a variety of ways including overall cost, retention, and on-boarding new hires.

While a cash reward can motivate your staff to look in their rolodex, this post focuses on low cost or no cost tips.

  • Be proactive, seek out your employees and ask them to think about the best people they have worked with.  Depending on the role you are trying to fill, ask questions like “Who was the best manager?” or “Who provided the best customer service?”.
  • As part of your orientation process, ask new hires for names or at a minimum, talk about the importance of referrals to your Credit Union.
  • Network, or better yet, blog with other Credit Unions and employers to see what is working for them.  Brainstorm, and share best practices.
  • Provide an inexpensive gift like a gift card or movie tickets.
  • Provide recognition.  Be creative – use what works best in your Credit Union.  A newsletter, staff meeting, etc.
  • Brand your referral program.  Create a slogan, remind people the reason behind their referral.
  • Set goals.  Motivate, and raise awareness.  Make a chart or graph touting results.
  • Give a rotating plaque, put their picture in it, put it in the lobby.
  • Lunch with an Executive.  Either one on one, or ask your CEO to hold a quarterly luncheon – include those who have referred candidates and those that have been hired through referrals.
  • Say thank you! Remember to stop by to say thanks, or pick up the phone if you’re in a different location.
  • Hold a drawing for those employees that have referred candidates.  Give a free vacation day, talk about a motivator!

The opportunities, while not endless, are plentiful when looking at cost effective solutions for motivating your staff to help in identifying your future workforce.  The workforce is aging, and the gaps are widening for talent pools.  Get creative!

Feel free to comment – and share additional ideas on what has worked well for you.

Diversity, Inclusion, Workforce Trends & Preparing for The Future

Posted by sharon on September 14th, 2009


Diversity, inclusion, and your workforce impact your success and business.  The press about the workforce, aging demographics, and talent shortages is everywhere.  Consider the following:

  • Gen X and Gen Y make up the core demographic of social networking sites [i.e. Facebook and MySpace].  Generating an estimated 90 million viewers every month, between business, industry, professional, and internet groups.
  • According to the bureau of labor statistics the United States will face an overall labor shortage, continuing for decades.  In 2 years, the shortage of skilled workers is expected to hit 10 million.  By 2030, the estimated shortage is projected to hit 35 million.
  • By 2015:  Hispanics will make up an estimated 15.9% of the labor force, up from 13.7% in 2006.  African Americans will make up 12% of the labor force, up from 11.4% in 2006.  Asians will make up 5.1% of the labor force, up from 4.4% in 2006. 
  • By 2012 people of color will make up 35% of the workforce, and by 2015 students of color will make up 47% of college enrollment.
  • An estimated 3.3 million white collar jobs and $136 billion in wages will shift from the United States to low-cost countries by 2015.
  • People with disabilities aggregate income tops $1 trillion; they are the largest minority population in the United States that spans all other minority groups.

Integrating an overall workforce and diversity plan – as well as aligning it to your business strategy is critical.  While "planning" alone is not enough, questions you should integrate include:

  • How will we successfully compete for our unfair share of future talent?
  • What is our value proposition?
  • Are we prepared and equipped to attract, hire, develop, and retain the talent needed to meet our business and member objectives?
  • What sets us apart?
  • What are the implications for our business?

Remember the buzz years ago about "the war for talent"? The best days are in the past as competition for critical talent will only intensify.  Are you prepared?