How to retain good staff when turnover is high

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“Our credit union is understaffed. We just can’t find enough people!”

If I had a nickel for every time I’ve heard that statement from credit union leaders over the past few months, I’d be a very rich person right now. I’m not a recruiter, so I won’t dispense advice on a topic I know others are better versed on in terms of finding new team members. However, one thing Your Marketing Co. has tremendous experience with that has paid huge dividends over the last 12 months is marketing to your frontline team.

Even if your marketing plan does a great job bringing in new members and loans, without focusing on marketing to your team you are missing out on invaluable opportunities to provide a better member experience, plus engage and retain your best frontline team members.

Did you know that more than 70% of employees in US organizations are not fully engaged at work? While they may be physically present in your credit union and doing the job you’re paying them to do, they’re not living up to their full potential or delivering their best performance. And that means your members are not receiving the best possible experience, leaving both your credit union team members and actual members vulnerable to poaching from other financial institutions. Improving employee engagement crucial, strategic aim for your credit union. Better engagement results in higher productivity, but also happier and healthier employees, fewer sick days and lower staff turnover.

Gone are the days a good salary and benefits package were enough to retain your best talent. Studies show that millennials change jobs more frequently than any other generation before them, but they will stick around longer with organizations that value corporate ethics, transparency, and work-life balance – more so than for the traditional job perks. Even if you think your credit union is doing all the right things, beware: You may not be communicating them very well to the frontline employees. Your credit union marketing team can play a critical role here.

Typically, employee communication has been nothing more than a box to tick through a memo, a poster or flyer in the break room, or simply a company email. For credit unions realizing that stellar growth and lower staff turnover are worth the credit union’s investment, your team can grow the credit union and its positive perception through a great member experience. Frontline employees are a significant entry point to your credit union, not just cogs in a delivery wheel. Credit unions that have found success with this have started communicating to their employees in as creative, engaging and interesting ways as they do with their members.

Two credit unions that have successfully done this come to mind. Express Credit Union ($15 million, Seattle WA) completed its strategic planning for 2020 in August of 2019 and set some lofty goals, especially in terms of membership growth. Seeking 3% membership growth was really stretching some of their team but landing on 5% made them downright nervous. But come yearend 2020, the credit union celebrated average membership growth of 6.52%, even with branches closed most of the year.

How?

The credit union began communicating goals to the frontline. Starting in January, every team member knew what the membership growth goal was for the month, for the week, and even down to the day. A combination of:

  • Transparency from leadership as to why the goal was important to the credit union
  • Frequent marketing to the staff, reminding them of their mission and their “why”
  • Two-way communication with the marketing team to ensure:
    • The frontline team understood what marketing was doing to support them, and
    • The marketing team gleaned what was working and what was not from the front line.

This was not a one-time fluke. Mint Valley Federal Credit Union saw the same kind of results. Leveraging a strategic marketing plan focused on its goals to bring in new members combined with the frontline staff engagement by the leadership team and the team at YMC to communicate goals, was the winning combination to infuse new energy into the team.

Change is hard for everyone, but ultimately my goal is I want it to be fun for everyone to come to work. By doing all those different things, we had fun stepping out of our comfort zone, and it really boosts the team’s confidence when they hear members’ appreciation and the comments that Mint Valley has been life-changing for them,” Dori Harvel, Mint Valley Federal Credit Union said in a recent interview.

The examples that Express and Mint Valley prove the concept that investing in marketing to your frontline staff, making sure they understand their “why,” and infusing some fun and gamification into the process engages your frontline team members and yields amazing results.

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Mandy Garman headshot

Mandy Garman

Graphic Designer

Meet Mandy, one of YMC’s in-house Graphic Designer phenoms! Honing her craft from an early age, Mandy constantly strives to innovate design and refine her artistic techniques. An avid believer in “quality over quantity,” she feels right at home with YMC’s focus on details and dedication to providing unique strategies. In fact, her marketing philosophy reflects this drive for excellence and commitment to substantial work, “Brand consistency is key for all marketing materials. Also, I believe less is more in graphic design. White space is your friend, and the logo does not always need to be the main focal point.”

A Nashville native, Mandy is intimately familiar with the profound effects of great art and stellar design. Especially influenced by the city’s music scene, one of her lifelong ambitions – besides trips to Italy and Japan – is to professionally create album covers. When she isn’t practicing her craft, you might catch her out and about enjoying matcha boba tea or at her favorite dining establishment: Mas Tacos. That, or obsessing over her Persian cat, Benny!

Reh Harvey

Vice President of Digital Strategy

Reh Harvey, our Vice President of Digital Strategy, leads with diligence and fervor. Having previously been a member of Team YMC, he is excited to return to such an amazing culture and even more amazing people (his words)! Through his experience in the marketing world, he’s found the key to success is to stay on the cutting edge and to always keep evolving.
 
Although originally drawn to marketing for its lack of math, Reh now finds himself doing more math than he would’ve bargained for. But his self discipline and positive attitude make it easy for him to laugh and take it in stride. Hoping to one day visit Japan and enjoy some premium Sushi, Reh lives life by his creed: Be a good human. Do good work. And above all, just keep going.

Hailey Madej

Graphic Designer

As YMC’s in-house Graphic Designer, Hailey possesses an eye for detail and a drive to innovate. It’s no surprise though since being creative runs in the family! Inspired from an early age by her mom’s work as a Graphic Designer, Hailey is a seasoned expert whose talents bring vitality and accessibility to every project. As a UX/UI designer, she expertly blends the intuitive and the creative for all to enjoy.
 
In addition to the occasional freelance project, Hailey also lends her abilities to supporting art initiatives within her community, such as the Belleville Mural Project. Her favorite aspect of joining the YMC team is the friendly, uplifting culture and breadth of design tasks. When it comes to marketing, she believes in pushing boundaries and maybe breaking some rules to capture her audience’s attention. Her advice to those just starting out? “Always seek quality over quantity.”

Dexter Ochoa

Development Assistant

When it comes to blending logical thinking and creative problem solving, Dexter’s abilities are undeniable! Beginning his career as a Web Developer, he’s no stranger to the wide world of Marketing and Advertising. Calling Biñan City in the Philippines home, Dexter has a burning desire to visit the Alpine peaks and valleys of Switzerland. While that journey may be far off, he is still no stranger to international travel. While visiting Japan, he was able to enjoy his favorite delicacy: Sushi and Sashimi. He also learned unexpected facts about Japanese Yen, specifically that it has special markings for the blind to know its value!

Whether he’s enjoying a cup of coffee in the morning or the occasional Pale Pilsen in the evening, Dexter is eager to work with the talented professionals of YMC, and we’re just as eager to add his talent to the team as well! His marketing words of wisdom? “Be creative, and just do what you want!”

Andrew Wyche

Copywriter

Hailing from the NC state capital (that’s Raleigh if you didn’t know), Andrew is YMC’s Copywriter extraordinaire. That’s why he knows that “The verb form of ‘reconnaissance’ is ‘reconnoiter.’ The former is, strictly speaking, a noun.” Seriously, he knows his words and he’ll use those words to get bold and weird (in a good way) with his copy. Fuelled by a love for pasta, shellfish, a good single malt, or a meal consisting of all three, Andrew navigates life with a motto engraved in his heart: “Choose kindness. Always.” It is this guiding principle that has led him to explore the realm of marketing, driven by a desire to connect with people in meaningful ways. As he continues to chase his dreams, one bucket list item stands out above the rest – a pilgrimage to Scotland. With his heart set on adventure and his pen poised for creativity, Andrew’s journey is far from over.

Alex VanHaasteren

Senior Web Developer

Alex is YMC’s Senior Web Developer and, as the title suggests, she is an absolute pro! While she initially started in graphic design – working long and hard to expertly bring concepts to life – she also felt drawn to technology and applying her natural ability to problem solve. Web Development proved the perfect blend of her creative passion and technical savvy.

When Alex is out with friends – including her YMC colleagues – she’s up for Greek cuisine or some good pulled pork BBQ washed down with Diet Coke. Or an Old Fashioned, if the occasion demands. Someday, she hopes to go to Africa on a safari. Hopefully she’ll see a giraffe in the wild, because – as she’s pointed out – its neck is too short to reach the ground!

When she isn’t jamming out to T-Swift, she’s happy to impart some marketing words of wisdom, “Aim to create something unforgettable.” For day-to-day inspiration, she would remind you of two fundamental truths: You decide your happiness, and Ice cream is its own food group—not just a dessert.

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