Demographic changes are driving change in credit union leadership, the most significant of which comes in the cost of hiring a president/CEO. These days, the price of top talent often comes with a high price tag, according to executive recruiter Charles Shanley (pictured).
"There are still credit union boards out there that suffer sticker shock when it comes time to replace long-term CEOs who are retiring," Shanley, executive vice president for John M. Floyd & Associates in Baytown, Texas, said.
More of those boards will have to face the music in the coming years as the growing number of baby boomer retirees takes its toll on credit unions' veteran leadership. Salary and benefit trends are climbing upwards and top-quality candidates will be facing what, for them, is becoming a sellers' market.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
