BALTIMORE — It's no secret that credit unions lacking a succession plan may be setting the stage for mass chaos should a CEO retire or suddenly die.
Without a strategic plan that addresses what will happen should a shakeup occur at the president/CEO spot or even within the senior management ranks, a credit union can instantly fall into being held "hostage," said Nancy Lewis, president of Progressive Techniques, Inc., a Fayetteville, Ga.-based training and human resources consulting firm.
"The only thing that is constant is change," Lewis said yesterday at the African-American Credit Union Coalition's annual meeting. "Sometimes you have to get out of the way."
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Lewis said cross-training is critical and if a succession plan is not in place, an entire organization can stall because certain people will always be relied on to carry out certain duties. On the flip side, Lewis, who has worked with Coca-Cola Enterprises, Delta Air Lines and Ford Motor Company, said she recalled one client survey that showed 79% of people leave their workplace because they didn't feel appreciated.
"A simple thank you," Lewis suggested as one of many ways to make employees feel that they are valued by their employers.
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