A large hurdle today for many credit unions is attracting and retaining talented employees. This report lays out the key findings from current organizational attraction research and distills implications for the credit union system. The primary determinants of applicant attraction are perceived person-organization fit, job and organization characteristics, and recruiter behavior. In addition, the authors emphasize that credit unions are uniquely positioned to leverage Corporate Social Performance (CSP) as part of a strategy for organizational attraction.
It’s been nearly 20 years since the watershed report from McKinsey and Company entitled The War for Talent (Chambers et al. 1998). That report outlined the challenge the corporate world would face finding smart and technologically informed employees, claiming that even as corporations’ demand for talent increased, the supply would dwindle. This global issue is so top-of-mind among credit union leaders that Filene created a research center dedicated to, and named after, the War for Talent. How will credit unions compete with larger corporations, with vastly more resources and a greater share of media attention, in attracting talented workers?