Credit Unions CAN Win the War for Talent

Credit unions hunt for top talent.

The term “war for talent” was coined by a McKinsey & Company consulting team who documented and described the “increasingly competitive landscape for recruiting and retaining talented employees.” The original study was sparked by the go-go 1990s and the associated new economy. The McKinsey consulting team then published a book on the same topic in 2001 after the dot-com bust predicting “because of enduring economic and social forces, the war for talent will persist for the next two decades.” Now we are in the midst of that second decade and the war is still raging, especially for credit unions. Until the robots take all of our jobs, one can predict the war to continue well into the 21st century, especially for knowledge/specialty industries like consumer finance.

Thanks to cutting-edge research at Filene’s Center of Excellence for the War for Talent at the University of Texas-Austin, in addition to field-based innovation projects, Filene Research Institute is helping illuminate the way for credit unions to wage this critical battle. Below are a few insights that can potentially help your credit union win the war for talent.