Other parts of this series:
- HR’s Seat at the Change Table, Investments Soar with Women Leadership – Talent & Organization Weekly News Update
- Women in Insurance, Gender Diversity in Fintechs - Talent & Organization Weekly News Update
- Understanding Generation Z, Agile Learning for the Workforce - Talent & Organization Weekly News Update
- Millennial Talent Gap at Credit Unions, How to Improve Career Sites – Talent & Organization Weekly News Update
Here are the top news stories in talent & organization from this week.
New study will explore talent gap at credit unions
Visa has partnered with credit-union-focused think tank Filene Research Institute on a pair on initiatives designed to help credit unions understand potential employees and encourage more millennials to pursue careers with them. “One of the things you find with millennials is they like, with their career choices, to work with organizations that are mission-driven,” Doug Leighton, head of U.S. community accounts at Visa, told PYMNTS. “Credit unions fit that bill as a mission-driven organization dedicated to serving their members and their communities.” But Leighton believes the industry needs to do a better job raising its profile among potential candidates. “The thing that is challenging to credit unions is that they are somewhat of a secret,” he said. Visa and The Cooperative Trust, a young credit union professional community, recently launched a mentorship program encouraging young people to consider CU leadership roles. As part of the program, Visa invited 78 program participants – known as “crashers” – to the CUNA Governmental Affairs Conference to listen to and engage in conversations related to the future of the credit union market.
Community banks need millennial employees, too
Credit unions aren’t the only ones looking to close the talent gap. “The current talent gap at community banks throughout the country is noticeably wider than it’s ever been at a time when the industry’s direct competition includes some of the largest tech companies—as well as the biggest banks, hedge funds, private equity firms and other prestige employers,” writes Chris Petersen in this opinion piece for the American Banker. She believes community banks should allow entry-level employees to participate in cross-departmental decisions about platform conversions and let them sit in on brainstorming sessions on topics like how to improve the digital banking experience. “Millennials bring an intimate understanding of digital strategy, a truly innate knowledge of user experience that borders on the instinctive and a mindful, embedded approach to mobile engagement. Unlike generations that preceded them, they don’t have to retroactively acquire these skills. They grew up with them,” Petersen writes.
Build a better career site to attract top talent
When it comes to attracting the best employment candidates, there’s no tool at your disposal more powerful than your company’s career site, according to Pete Jaradeh. In an Oracle guest blog, he outlines the three ways to improve a career site to deliver a more candidate-centric experience. First, Jaradeh recommends telling a compelling brand story. “Find creative ways to incorporate your culture, values and personality right into your employment offerings and your overall message,” he writes. Second, he suggests making the career site more mobile-friendly. “A study conducted by recruitment technology company Jibe found that one-in-five candidates would abandon a job application entirely if wasn’t optimized for smartphone use, and this figure continues to rise.” Third, focus on candidate communication and feedback. “I strongly urge you to take a look at your company’s website and perform a thorough analysis, ensuring that you’ve emphasized major components of your organizational story, provided your candidates with an optimal experience and are capable of delivering periodic updates to applicants throughout the process,” he writes.
‘Getting to Equal’
Accenture’s CEO for North America Julie Sweet and Chief Leadership and Human Resources Officer Ellyn Shook were interviewed by Jeff Frick, host of theCUBE, SiliconANGLE Media’s mobile livestreaming studio, during our event in San Francisco to highlight International Women’s Day—Creating a Culture of Equality. They discussed the key findings of our recent report, “When She Rises, We All Rise—Getting to Equal.” Shook told SiliconANGLE that she found the research groundbreaking. “Never before have I seen a piece of research that looks at the cultural aspects of an organization and really helps to articulate very transparently the biggest accelerators in a culture for equality,” she said. Sweet outlined the three key revelations of the study: “The first is bold leadership: companies like Accenture who set targets and have CEOs who are very clear about their priorities. The second is comprehensive action, policies and practices that are really effective. Third, which I think is often under-focused on, is an empowering environment. In companies with these factors, women were five times more likely to advance to director or senior manager, and men were two times more likely.” Watch theCube’s full coverage of the event here.
Follow live updates from our Accenture FS Talent & Organization leaders: