Newsroom
Succession planning, best practices highlighted in NAFCU webcast
Attendees learned the guiding principles of a succession planning strategy and best practicesfor developing a successful succession planning program in yesterday's NAFCU webcast.
The webcast, Succession Planning: Developing Future Leaders Today, was led by Kendra Williams, director of human resources at Apple Federal Credit Union.
Williams said succession planning benefits credit unions because it ensures "the right people in the right place at the right time for continuity of operations, helps individuals realize their career plans and aspirations within the organization andcontinuity of organization culture and success."
Williams recommended that a "credit union's succession plan should be tied to its strategic plan" and, in order to achieve that, credit unions must establish internal talent management committees and recruit new professionals to fill gaps to ensure a continuous flow of qualified candidates for critical positions.
During the webcast, she also discussed common myths about succession planning and succession planning versus career pathing. Williams also provided a seven-step succession planning process model that highlighted defining goals, objectives and assessing performance and potential.
For best practices, Williams emphasized looking for talent throughout an organization.
She also listed key takeaways that credit unions can use when developing a succession plan, such as critically evaluating the succession plan and adapting succession plans to credit unions' bottom-line strategies.
NAFCU webcasts are available on-demand for one year following their broadcast through the association's Online Training Center.
Share This
Related Resources
Add to Calendar 2024-05-03 14:00:00 2024-05-03 14:00:00 Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing About the Webinar In January 2024, Pentegra conducted a survey of retirement plan sponsors and their perspectives on retirement plan management and fiduciary outsourcing. The survey measured how sponsors are using fiduciary outsourcing to help better manage their retirement plans. It also captured their perspectives on what outsourcing does to help them better position their plans and drive improved retirement plan outcomes. Key Takeaways: What is the full scope of your responsibilities as a plan sponsor? What is fiduciary outsourcing and how does it work? How does fiduciary outsourcing help reduce workloads and minimize risk? How can a credit union best position its plan to drive improved outcomes? Register Here Web NAFCU digital@nafcu.org America/New_York public
Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing
preferred partner
Pentegra
Webinar
Add to Calendar 2024-05-03 09:00:00 2024-05-03 09:00:00 Blind Spots in the Boardroom Listen On: Key Takeaways: [04:19] For a board to change its practices first it needs to be committed to different outcomes. It takes about 30 times for a board to start to be in a new conversation before they start to get their brain rewired to embody the change [07:24] In merger conversations we lose sight of what is important for the member. We need to look at what the continuing organization will look like and what is the leadership the membership and continuing organization need and deserve. [12:39] An educated board and executive team are a sharper team. When you have sharper leaders in the organization good things come from that. [24:22] If we are not taking care of that relationship with the CEO then we are strategically hampered. With a good CEO evaluation, the board is higher performing, the CEO is more attentive to being high performing, and the relationship is high performing and more genitive. Web NAFCU digital@nafcu.org America/New_York public
Blind Spots in the Boardroom
preferred partner
DDJ Myers
Podcast
Ensuring Safety and Soundness with AI
Management, Consumer Lending, FinTech
preferred partner
Upstart
Blog Post
Turning Lemons into Lemonade: Capitalizing in a Post-Banking Crisis Era
Strategy
preferred partner
Allied Solutions
Blog Post
Get daily updates.
Subscribe to NAFCU today.