The result? If you want high performers who can tackle multiple duties exceptionally well (or bring a very specific, coveted skill to the table), it's going to cost you. That's difficult when budgets are limited – and, unfortunately, most credit unions and financial institutions haven't developed their current workforces or prepared them for the next level.

Now, as baby boomers retire at greater rates, managers are scrambling to get Gen Xers and millennials excited about staying at credit unions long-term while also sparking excitement among Gen Z to join their teams. According to Bloomberg News, the labor force lost 800,000 baby boomers at the end of 2016. It may take more time, money and creativity to get the right workers in your four walls and train them well, but it's critical to the future of the business.

So what makes a good training program? First and foremost, always invest in an in-house program. It doesn't mean you need a large team of internal trainers. However, having one to two people who set the agenda for your training needs, build benchmark guides, and explore outside resources to bring in coaches and subject matter experts is a good place to start. Here are some more things to keep in mind:

1. Let new hires get their hands dirty. Yes, you have to tell employees what you expect from them – and then you have to enforce it. However, performance management without training is worthless. You also have to provide the tools, resources and learning opportunities that allow people to meet your expectations.

During Facebook Bootcamp, new engineers learn by working on real bugs. Their training process isn't just a handbook. They work on actual projects that will be used on the site within a certain time of their hire date.

Credit unions can use the same principle. Put new hires in real-life situations on the job. Let them get their hands dirty instead of giving them a packet and hoping they read it.

2. Stress member service with a capital "C." We know that great member service leads to more members – and more loyal ones at that. The key to better member service is an extensive training program for employees that prepares them to succeed, as well as provides them with incentives and benefits that pave a healthy career path.

If you can't afford to financially invest in training when you first start out, it could be as simple as creating staffing policies around member service. Invest with your time until you can also invest with money. That means managers and branch leaders have to carve out more one-on-one time with their employees to make sure they're meeting their member service goals. Instead of annual reviews and long-term goals, focus on short-term goals and more frequent feedback sessions to boost success.

Remember, investors leave when customers leave; it's rarely the other way around. By taking care of your internal customers (your employees), you ensure they are prepared to take care of your external customers (members).

3. Empower your workforce. You have to be honest with your employees, not secretive. Actually expose them to the ins and outs of the business rather than keeping key performance indicators behind closed doors. When that happens, each employee feels invested in the success of the organization.

When they're trusted with details about the financial performance of the company, team members feel included and empowered to work harder. When they feel empowered, you'll probably find that their effort goes up as they take more action to meet goals and improve daily operations.

When all is said and done, a good training program is your chance to truly educate employees and improve the success of the company. Really, it's low-hanging fruit that can make the company more money, reduce turnover and carry the business through the next phase of generational shifts.

Sona Jepsen is Global Head, Sales Enablement for Fidelity National Information Services. She can be reached at [email protected].