It's a fact: Managers and executives have to invest time and money in their people from the moment they're hired – and throughout their careers – in order to be successful. Much like any other company, a credit union is only as good as its employees and how well they work.

Take it from Facebook, which didn't have a training program when it first started. According to business expert Ben Horowitz, this led to poor performance and loads of misunderstandings among its engineers. As it started to affect the overall product negatively, Facebook Bootcamp was born – a training program that's transformed into a legend in its own right.

While training may seem low on the totem pole compared with other business initiatives like sales and marketing, it's a mistake to overlook it. And it's more than passing out employee handbooks and putting new hires through orientation. There are challenges to hiring and training right.