Train and Retain: Developing Amazing Credit Union Employees
Practice makes permanent. And with that saying, we also hope that practice leads to long-term employment.
Employee training should not, and cannot, be ignored. Not only does training provide your credit union employees with better job-specific tools to serve members; training also provides them a sense of commitment to the company. According to the corporate training company, Sh!ft, 7 out of 10 employees say that training and development opportunities influence their decision to stay with a company. Let's look at some reasons why corporate universities and academies are being used as credit union training tools.
Why focus on employee training?
When disengaged, 1 in 3 people leave their organization within the first year, either voluntarily or involuntarily.1 Training initiatives cannot end after the initial orientation period. Keep in mind that it's much less costly to train and retain present employees, rather than hiring their replacements.
Students viewing slides with a title, vivid imagery, and no bullets scored higher than students strictly exposed to traditional bullet-point slides.2 Training content that is entertaining, interactive and fun tends to inspire and stick with employees better.
They Want It
A work-based learning study found that 74% of employees felt they were not achieving their full potential at work and, as a result, would value access to more development opportunities.3 Additional training helps an employee feel valued, gives them the confidence to do their job better and provides opportunities for advancement or promotion as they strive to reach their full potential.
Why Have an Entire Corporate University Tool Just for Credit Union Training?
Improve the "Servicescape"
It makes sense when you think of all the areas with potential training needs. Set aside all the technical benefits of training for a minute, and think about the "servicescape." How often do your managers get training? We hope it's more than 12 minutes every 6 months. That's the shockingly small amount of manager training that the U.S. Bureau of Labor found that companies with fewer than 100 employees provide.4 Ask yourself:
Are my employees receiving enough training when it comes to...
- Member satisfaction?
- Back or front office procedures?
- Fostering a common culture and loyalty?
Keep up with Industry & Technology Trends
As the list grows in areas of credit union training opportunities, it can practically double in size when technology training is added into the mix. The need to keep up with cybersecurity, new features of the core system, the growing tech needs of members, and knowing what to do with the wealth of member data available... just a few reasons to keep training as a regular agenda item. So it's important to see that continued education should become a norm within the procedures of a credit union.
Experience the Benefits of Corporate Training
FLEX has proudly created a complete eLearning environment where credit union employees can receive free interactive training at their own pace.