`Talent Pools' Key to Succession Planning

BISMARCK, N.D. – Credit unions should be developing and tracking “talent pools” in their organizations to ensure successful succession planning at both top and middle management levels, according to Indianapolis consultant Teri K. Morning. Addressing an education session at the North Dakota Credit Union League annual meeting, Morning said too many CUs allow their most talented employees to move up career paths within narrow department lines without realizing their cross-over potential as managers. “Just moving up to head teller” may miss the best use of that high performing employee who deserves to be in another area of the CU where his or her skills can be utilized, she said. The key, of course, is to recognize when that kind of move should be made, said Morning. Still, promoting from within remains the best way credit unions can fill executive positions with top talent though it takes longer than bringing a person in from the outside, said Morning, head of HRD Solutions and a former director of organizational development and training at the Indiana League. “When it comes to staff salaries, credit unions should stop thinking of themselves as the poor stepchildren” as compared to banking, concluded Morning.