Take the Guesswork Out of Hiring and Retaining Valuable Employees

Sponsored by CU Solutions Group

Did you know that most of the total productivity output comes from your team’s high-performing employees? High performers can deliver up to 400 percent more productivity than average performers. Unfortunately, as reported by the Harvard Business Review, one in five high performers are likely to leave their jobs in the next six months. Your employees are your credit union’s greatest asset, so it’s critical to avoid being a “revolving door” of talent. Getting informed on how to engage and retain your staff is key to building a valuable talent pipeline. 

According to a survey conducted by Deloitte, at least 58 percent of managers in Fortune 500 companies indicated that an annual performance evaluation is insufficient to engage employees. HR Performance Solutions’ free webinar, “Employee Engagement and Retention—The Secret for Successful CEOs,” equips leadership and HR professionals with supplementary performance management tactics to engage employees and improve productivity and accountability, benefitting your entire organization. One such tactic is tracking real-time feedback and mentoring advice on an ongoing basis to complement the performance evaluation. In fact, as of late 2015, nearly 10 percent of Fortune 500 companies ditched annual ratings—GE replaced the traditional process with more frequent check-ins and an app that helps manage feedback and performance discussions. 

To effectively compensate both intrinsically or extrinsically motivated employees, a reliable tactic is to invest in a comprehensive compensation software program. This type of software allows you to establish pay grades for distinguishing and comparing positions, as well as define the associated pay necessary to recruit and retain that talent. By using salary ranges based on market data analysis and comparative ratios—used to assess the competitiveness of an employee’s compensation—you can identify any retention or performance risks and act before your bottom line is affected.
As your credit union grows, it will become critical to take steps to enhance your organization’s overall performance management through dynamic, automated solutions that:

• take the manual guesswork out of establishing pay grades and identifying salaries needed to recruit and retain talent by predicting salary ranges based on market data analysis and comparative ratios;
• track and manage employee performance with proficiency and consistency; and
• capture real-time, evidence-based talent analytics to help identify employee potential.

You can gain more constructive insights on hiring and retention—such as the importance of using goals to establish accountability with performance expectations, the best way to identify and model high performers, and how to compensate those performers to develop a culture of highly engaged employees—through “Employee Engagement and Retention—The Secret for Successful CEOs.” Our webinar will show you how to systemically track performance expectations, competencies and goals so you can start seeing the trajectory of an employee’s progress. Assessing similarities between team members enables you to understand the variables that contribute to each employee’s performance. As a result, you will be able to capture data and establish a business model to help other employees increase their own performance.

Learn more today about attaining and retaining your employees by registering for the free webinar at HRPerformanceSolutions.net/Engagement. 

HR Performance Solutions, a division of CU Solutions Group, Livonia, Mich., combines extensive HR experience and expertise with proven technology to provide some of the HR industry’s longest-standing SaaS applications for integrated performance management and salary administration. We implement sound compensation and agile performance management applications, along with “hands-on” consulting and assistance.