When asked whether or not they expected to still be working for the credit union 12 months from now, 46% strongly agreed, while only 8% did not expect to still be with the credit union.
The study also found that there is still a lot of work to be done in terms of employee communication.
About 33% of employees disagreed that their credit union had good communication between departments. According to D. Hilton, the results are troubling because so many front-office and back-office departments have direct contact with members and rely on each other for resolving complaints and concerns.
The study was compiled using D. Hilton's proprietary employee opinion survey database of more than 10,000 credit union employee respondents over a five-year period. The study details over 75 questions historically asked of credit union employees in the areas of working conditions, job content, management, communications, morale, supervision, advancement, compensation and benefits. In addition, overall results to each question is broken out by region, year surveyed and asset size.
According to D. Hilton Senior Vice President Brian Kidwell, with employees as a credit union's most valuable asset and the high cost of low employee retention, it is important for credit unions to assess their success as a preferred employer.