For credit union executives, the start of a New Year generally spawns a period of intense introspection into how to improve on a variety of issues from the previous year. Of course you want to generate more revenue and grow your member base. Surely you want access to the latest and most efficient technologies. Certainly you want to create happy, productive and loyal employees. What if I told you that there is a secret sauce to achieving all of the above? It's called company culture, and it can be a real game changer.
We've all heard and many of us have affirmed that culture eats strategy for breakfast (as first attributed to Peter Drucker). The reason: People are loyal to culture and it is more resilient than strategy. In other words, your culture is your brand! Strategies can be copied, but no one can copy your culture. Therefore, it is absolutely crucial as a credit union executive to be intentional in designing initiatives that improve your credit union's culture.
When looking closely at your strategic business plan for 2016, I encourage you to evaluate whether what you've outlined is even feasible given the current culture you've created. Do you have a culture plan? Make no mistake, you are significantly responsible for the happiness, productivity and mindset of those working under you. If you can identify areas of dissatisfaction, underperformance or even complete failure, working to create a dynamic culture shift can have a positive effect on overall output. To effectively institute such profound change, there are steps that must be methodically followed in order for it to last and truly move the needle. Frankly, the process could take years.
First things first, executives must commit to the process itself. You should realize that the "normal" way of doing things may not be the right way of doing things. The best way to learn what isn't working is to perform a culture assessment — whether it be through an outside consultant or anonymous surveys of both the staff and your members. By doing so, you can obtain a baseline and identify which aspects can be improved and what needs to be completely eliminated. The amount of detail garnered from this exercise will allow you to map out tangible steps and goals critical in achieving company-wide change.
One of the key initial steps you must take is to put relationships at the epicenter of your company culture. Strong relationships between co-workers and with the members you serve will spur motivation and foster a more fluid working environment. Putting an emphasis on personalization and deepening relationships will not only help your employees feel more fulfilled, but also make your members feel more comfortable walking in the door. This focus on relationships will also create opportunities to expand your network and make inroads within your communities and across the industry itself, culminating in an expanded footprint and increased bottom line.
We all know the Golden Rule: Treat others the way you wish to be treated. As a credit union executive, your staff looks to you for guidance, feedback and leadership. If you want your team to treat each other and anyone who walks in the door with the utmost respect and appreciation, then that culture change must begin with you and your leadership team. Hopefully, action begets action and the demeanor you exhibit and encourage will result in a trickledown effect within your organization.
It's also crucial to inspire and excite employees by inviting them to the table to brainstorm and make suggestions during the entire process, thereby increasing the likelihood that changes take root rather than wither away. You know our industry is built upon interactions, so it is paramount to create an uplifting, positive and productive environment in order to build and sustain an excellent reputation among partners, vendors, members and competitors, and in the communities in which you operate.
Other key steps involve embracing, cultivating and innovating your brand identity. Figure out what you want your credit union to stand for, and make sure it comes across in everything that you do. Once you've identified your brand differentiators with respect to your culture, encourage consistency and clarity by fully communicating these ideals to all parties. By opening your mind and allowing your brand to blossom, it will motivate those who come in contact with it to naturally embrace the culture you create.
I assure you that the few steps I've outlined here will only get you started. Company culture in this sense is as much a verb as it is a noun. It is continued action and attention from the top of the organization to the bottom. It must be actively managed and recalibrated as needed based on the results you experience. Instituting real change may be difficult — particularly on you, as you must change first — but in the end, it will be well worth it. A happier and more productive staff will eventually lead to greater prosperity for your credit union. It's not magic, and it shouldn't be difficult to see how creating a better human experience across your organization can have far-reaching and immensely positive effects.
Make the commitment, cultivate your culture and reap the benefits.
Cathy Hulsey is chief of staff and chief culture officer at EPL, Inc. She can be reached at 205-408-5300 or [email protected].
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