There have been few moments in American history in which the economy has experienced as much whiplash as the COVID-19 pandemic. After an economic shutdown brought an extended period of turmoil and job loss, we experienced a rapid V-shaped recovery which has brought increased power to job seekers in the labor market.
The Great Resignation, which came on the heels of 5 million job openings from the first year of the pandemic, has increased pressure on companies to hire enough front-line staff to keep operating at the capacity necessary to succeed.
Credit unions are no exception. The industry’s quit rate reached 3% in December 2021, nearly 0.6% higher than it was one year prior. Unsurprisingly, the openings-to-hires ratio rose significantly, reaching 1.77 openings for every hire by the end of 2021. This is more than double what the ratio was in June 2020.
These are drastic developments happening in extremely short periods of time. With no true end in sight to the economic and labor turmoil, it behooves credit unions to make their hiring processes as efficient as possible.
Thankfully, Callahan’s Policy Exchange can help.
The Policy Exchange is flush with hundreds of ready-to-use job descriptions from a variety of fields. Submitted by other credit unions within the industry, these detailed descriptions will save you time as you seek to hire within this competitive environment.
Here are just a few examples of job descriptions currently available within the Policy Exchange:
-
- Lead Fraud Investigator
- Ethical Hacking Manager
- Chief Relationship Officer
- Human Resources Generalist
- SVP/Chief Growth Officer
- Enterprise Risk Analyst
These are just six of the hundreds of job descriptions within the Policy Exchange. To learn more about how to gain access to the Policy Exchange, click here.
The turmoil in the stock market and labor market shows no signs of easing. Making sure your cooperative operates as efficiently as possible is the best way to counteract.
More Blogs
3 Ways To Use 2Q21 Data
The NCUA has officially released second quarter credit union data. Callahan provides your credit union a multitude of ways to analyze this updated data to benefit your cooperative. Here are three: 1. Build custom tables in Peer-to-Peer In Peer-to-Peer, credit unions...
Recapping The Impact Network Meet-Up
On August 17, dozens of credit unions joined Callahan & Associates for the first ever Impact Network Meet-Up. This event, which was open to Impact Network participants only, was created to help participating credit unions form connections, start impact-related...
2Q21 Credit Union Trends and Takeaways
More than 1,200 industry peers joined us on Aug. 11 for 2Q 2021 Trendwatch. Callahan highlighted trends in lending, membership, and more as behavior amongst credit union members changed in accordance with the steady economic reopening. Most notably, credit union...
We’re Re-Building Peer-To-Peer From The Ground Up, Here’s What You Can Expect
Intuitive design. Faster analysis. Enhanced reporting. All packaged into a sleek, modern interface. Those are just a few of the changes you can expect with the launch of Callahan’s Peer+ software, coming January 2022. We’re excited to share that the classic...
This Month In Impact
This year, Callahan began our impact initiative, in which we seek to build a network of credit unions with the goal of empowering member-owned financial cooperatives to better articulate their value through a mission-focused lens with the help of new metrics and best...
1Q21 Strategy & Performance Now Available For Download
One of the premier publications produced by Callahan & Associates is Strategy & Performance, a quarterly magazine that highlights the newest trends and data from around the credit union industry. As the industry emerges from the other side of a strenuous and...
4 Impact Articles To Read
Callahan’s Impact Center is a compilation of webinars, publications, tactical documents, and more, all centered around creating a positive community impact. The Impact Center also features case studies and blog posts from creditunions.com that highlight how...
1Q21 Credit Union Takeaways and Trends
Amidst an industry landscape that is undergoing massive changes as a direct result of the COVID-19 pandemic, credit unions found a multitude of ways to adapt to the evolving needs of their members. Using data obtained from credit unions during the first quarter of...
Introducing The Credit Union Impact Center
The Impact Center is a compilation of webinars, publications, tactical documents , and more, all centered around creating a positive community impact.
Peer Group Criteria That Go Beyond Asset Size
Three peer group examples for a more accurate credit union benchmarks.