5 Non-traditional Ways to Attract Talent

 

Before the COVID-19 pandemic, Millennials and Gen Z were already shaking up workforce norms and expectations. We’ve heard for the better part of a decade that Millennials want more flexibility in the workplace, and now as Gen Z enters the global workforce – and with the added stress of a labor shortage in America – attracting and retaining talent looks much different than it did in the early 2000s. So let’s talk about some non-traditional ways to attract talent.

More Flexible Work Structures

Now that job seekers and employees know that it is possible to be successful in a work-from-home setup, more and more applicants are looking for the word “flexible” in the job description. For decades, businesses have been seeking “flexible, driven, and outgoing” individuals, and now those individuals are asking for that same flexibility back.

Being forthcoming with the flexibility available in any open positions for which you are hiring can easily attract talent.

Financial Planning & Education

One thing that many employees and job seekers want is more help with financial planning. The generations of people that are moving into the workforce right now grew up during times of economic uncertainty, and they tend to use debit products more than credit cards and other interest-rich financing options.

Your credit union is already well-positioned to offer financial planning and education resources to your staff, so it’s definitely worth touting in our next Indeed or Monster.com job posting.

Comprehensive Wellness Programs

Wellness is another key focus area for job hunters. With healthcare prices at an all-time high (and not to mention the fact that we’re in the middle of arguably the deadliest pandemic in modern history), providing your current and prospective employees with a competitive and valuable wellness package is a great way to draw more applicants, and to retain current staff.

Wellness programs now encompass a host of products and services, from nutrition education and preventative health checks to increased access to mental health professionals.

Community Engagement Opportunities

Another area that credit unions thrive in has become a top-tier way to attract talent – social and community engagement. Shoppers are savvier than ever, and they want to be able to buy local, and support initiatives and non-profits that put some of those resources and funds back into communities and causes they care about personally.

Your credit union should advertise the causes and initiatives it supports on all public and social media platforms. Not only does it enhance the reputation of your business, if you have articles or photos with your credit union team participating in fundraisers or other charitable events, it shows prospective employees that your company culture is one they would be lucky to be a part of.

Re-Evaluate Job Requirements to Include More Non-Traditional Candidates

Many of your potential applicants are struggling during this pandemic and recession – and the cost of post-secondary education is rising quickly. Now is the perfect time to take a look at your education requirements for job postings and rework them to include more non-traditional candidates and their resumes.

If a four-year degree is preferred, consider looking into certificate programs that could have offered a more specialized education in a niche area that could benefit your business. Think about alternative work experience that could have offered similar on-the-job responsibilities to the open position you are advertising. There are lots of great candidates getting lost in a sea of cover letters simply because they don’t perfectly meet your job requirement criteria.

Increase Flexibility with Virtual Desktop

IMS offers virtual desktop services to help you keep your employees in the loop no matter where their office is located today. And remember, that flexibility will also draw more applicants for your open positions.

Contact IMS for more information.


Credit Unions: An Entrepreneur’s Secret Weapon

IMS Solutions Credit Union Experts

When considering starting a small business, many entrepreneurs head straight for the big banks. Whether it is out of habit, advice from others, or a general lack of research into options, far too often credit unions are overlooked. Through social media efforts, newsletters, email marketing, word of mouth and community outreach, credit unions are poised to take a big chunk of the small business pie.

After all, in 2017 alone, more than a half million individuals became business owners. Is your CU following suit? Today we will look at the benefits of Credit Unions for upstart businesses and entrepreneurs.

Promote Your CU: If you aren’t putting forth the effort to attract this growing market, you need to start! Have a look at how other credit unions are doing it right, and implement your strategy to bring the budding business owners through your doors!

How Are Credit Union Attracting Entrepreneurs?

Promising entrepreneurs might find no more significant financial support than local credit unions. Following the financial crisis, many business owners were denied funding despite years of being loyal to their banks. Since then, credit unions stepped in to offer support where banks would not. However, the recent economic meltdown shined a spotlight on the significant difference between credit unions and banks, highlighting what credit union members have known for decades: credit unions designed their structure with members in mind.

Promote Your CU: Work with your local small business administration chapter or Chamber of Commerce, to connect to those actively seeking to start a small business.

Credit Unions Offer Entrepreneurs Unwavering Support

A report published by the National Association of Federal Credit Unions stated that credit union business loans had grown 59 percent since
2008. On the other hand, big banks experienced a sharp decrease in lending funds to small business by 18 percent. When small establishments suffered hard times, many banks overreacted at the possibility of default and stopped lending.

Business owners lost credit lines through their banks and turned to credit unions for help. With the doors of large banks closing in the faces of small business owners, credit unions propped their doors wide open. With a new generation full of entrepreneurial spirit emerging, credit unions need to once again reach out to those who are looking for options in the area of small business funding.

Fundera has an excellent article for entrepreneurs sharing the top eight credit unions for small business owners in 2019, and they are:IMS We KNOW Credit Unions
  • America First Credit Union
  • Alliant Credit Union
  • Navy Federal Credit Union
  • First Tech Federal Credit Union
  • Self-Help Credit Union
  • Consumers Credit Union
  • Digital Federal Credit Union
  • Boeing Employees Credit Union

Promote Your CU: Let entrepreneurs know about their specific loan options, credit card options for the business, and other offerings designed for the small business owner. If they don’t know you offer these things, they won’t come to your location. So take your location to them! Attend SBA meetings, Chamber of Commerce meetings, Town Hall meetings, Meetups for Entrepreneurs, or any other event that small business owners tend to congregate.

Credit Unions Help Entrepreneurs Think Bigger

Credit unions are now a prime source of funding for small businesses — according to Entrepreneur Magazine, the average loan size granted by credit unions for business purposes is $212,000. More so, lending is just one of many ways credit union helps entrepreneurs bring their dreams to reality.

In addition to loans and programs designed for entrepreneurs, credit unions are, by a larger scale, more nurturing of entrepreneurs. Due to their nonprofit status, credit unions return income to members in the form of competitive interest rates and lower fees. Also, credit unions are member-owned, with sensitive positions filled by election, decisions come from within, and increased focus is on personal banking relationships.

Promote Your CU: Use real stories of members who got their businesses off the ground with the help of your credit union. While a video is best, any type of “story” that can connect with someone wanting to start a new business is great. As your members to share why they are glad they used a credit union for their small business needs.

Credit Unions Offer Tailored Financial Advice To Members

Do you need help with your money issues but weren’t sure who to discuss the problems? An honest conversation with your local credit union financial consultants can help you come up with tailored solutions. Through various Programs, credit unions across the United States have come together to provide you with the much- needed know-how and work with you to come up with a game-plan to handle
your financial challenges.

Promote Your CU: Hold an Entrepreneurs Open House, with employees on-hand who can sit down one-on-one to answer specific questions. Provide the opportunity for guests to register online ahead of time, or encourage pop-ins.

Credit Unions Can  Jumpstart Your Small Business

While credit union memberships are open to specific groups, there isn’t a difficulty finding a credit union that will match with just about any member. In the United States, many institutions require that you live, work or study in the country to register with them. A simple search with the credit union research tool will get you moving in the right direction.

Whether you want to gain more knowledge about credit scores or how to increase your chances of getting approved for a loan, your local credit union employee can help you with insights on how to build a stable financial future. The bank is an obvious choice when you want to secure financial aid for your dream, but credit unions have consistently proven they have genuinely invested in the success of entrepreneurs. If you’ve got the next great idea that can positively influence the business world, look out for local credit union around you. We’re waiting to support you on the road to success.

Promote Your CU: Be consistent in your efforts and messaging, and remain “in front” of the entrepreneurs in your community. With so much to offer, it is important to share all of the benefits that are specific to entrepreneurs and small business owners.

IMS Credit Union Experts

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