Jun 28 2018
Diving Headfirst into the (Applicant) Pool: How Employee Attraction Impacts Employee Retention
This report uses credit union human resources data to investigate the process of generating potential applicants, and identifies various conditions that result in hiring and retaining superior employees. The results provide practical insights for credit unions to use in recruiting quality candidates.
Associate Professor at the Kenan-Flagler Business School
University of North Carolina at Chapel Hill
Management Research Assistant, McCombs School of Business, University of Texas at Austin
Report Number 453
Every organization has been both burned by a bad hire and fortunate enough to have that amazing employee who makes you want to say, “We’re so fortunate to have you.” Ensuring the right people are hired for the right position is arguably the most important job in an organization. The potential impact of recruitment on an organization’s hiring outcomes and overall performance can be far-reaching and is deserving of a credit union’s time and resources.
Fortunately, credit unions have a rarely used tool from which to gain insights and develop strategies for improving employee recruitment and selection: their own data. This report relies on a credit union’s human resources (HR) data to explore the elements that most affect credit union recruitment and retention. The goal is to gain a better understanding of the necessary factors for maximizing the number of successful employees hired by credit unions.
In addition to the full report, Filene boiled down our latest research about attraction and retention strategies for credit unions in this podcast.
Filene thanks Visa for its significant contributions to the Center for the War for Talent and generous support for making this important research possible.