Everyone is familiar with the Holy Grail from the many books referencing the legendary item to Indiana Jones’ cinematic quest. I often see credit unions searching for the Holy Grail, no… not the real Holy Grail of course, but something just as difficult to obtain: talent. Credit unions want the best talent, and if the millennials have taught us anything, we want the best and we want it right now! The pressure to find talent is always high, especially if an organization has lost a strategic, dynamic and organization altering executive. Can you think of an amazing talent you have lost in your organization? How difficult was it to replace this person? Did you replace them with someone of equal value? Maybe even greater value? These are the questions credit unions should be asking themselves before they sell themselves short.
I have often found credit unions chasing the perfect candidate through the wrong means – our old friend the job posting. While I definitely agree that marketing your organization, using social media, and posting new openings is a great way to attract talent, it puts your hiring manager and your financial institution in a box. You’re essentially hoping that the perfect candidate magically stumbles across your posting on Indeed, Monster, LinkedIn, etc. Hoping and praying you get a candidate to click on your job is not a strategy. That’s why it is important for credit unions to identify talent through a comprehensive search model, and not just going with what you receive from postings.
This can be the most dangerous way to stunt growth and create stop-gap hires for your organization, because you have simply gone with what has been presented to you. The best talent in the world could not even know you exist, and in a extremely competitive bullish market, it’s crucial we utilize all avenues to obtain and retain new hires. Before you go with what you have because it’s there, think about what you don’t have. By allowing your organization to rely on job postings you are not only missing out on 80% of talent, but you’re hoping that the maybe 20% that are searching for a new opportunity fit your needs.
Not engaging passive talent in the search for the candidate who not only can do the job and also fits your culture and goals is like waiting for the Holy Grail to find you. Stop waiting.