Credit Union Times - Centennial Edition - (Page I14) CeLeBrAtiNg 100 YeArS , SPeCiAL CeNteNNiAL editioN CoLUMN CREDIT UNION TIMES Sarah Snell Cooke, Editor-in-Chief 301-776-6262 / scooke@cutimes.com Marc Rapport, Project Editor 803-917-5918 / mrapport@cutimes.com Donald Shoultz, Managing Editor 201-526-2331 / dshoultz@cutimes.com Claude R. Marx, Washington Reporter 202-370-4822 / cmarx@cutimes.com Myriam DiGiovanni, Senior Staff Reporter 919-303-2744 / mdigiovanni@cutimes.com David Morrison, Senior Staff Reporter 703-379-2626 / dmorrison@cutimes.com Michelle A. Samaad, Senior Staff Reporter 770-469-2698 / msamaad@cutimes.com Lindsey Siegriest, Staff Reporter 201-526-2332 / lsiegriest@cutimes.com Kristen Domenico, Layout Manager 201-526-2329 / kdomenico@cutimes.com EDITORIAL training the Leaders of tomorrow today s maturity allows us to recognize (and admit) that our parents were usually right. One of the things they tried to teach us, and were right about, was to temper our feelings. Our parents taught us to respect those in charge or you would regret it; hence you don’t just blurt out to your boss that his new idea is about as creative as a pet rock. When professionals grow into their positions and place in the job food chain, we just refer to this as political and business savvy. You pick your fights more skillfully and raise them in a way that you get your point across without driving a stake through a superior’s heart. A recent opinion piece in Credit Union Times (Dec. 3, 2008 issue) caught my attention regarding a so-called leadership vacuum. Baby boomers, though maybe delaying a bit due to the current economic crisis, are and will continue to leave working life behind, and with that comes big shoes to fill. Due to timing and numbers, boomers are in most of the workplace leadership roles and their impending retirement will leave a gap. The NCUA and others have been warning about succession planning, not only in this sense but also in emergencies, as a must-have. In order to do that, a handful of higher level executives should be considered to take over leadership in a pinch, for example if the CEO is sidelined with a heart attack or if he or she decides to retire. Training for this type of position, particularly a replacement who may never have held the position before, can take some time, so it should be performed on an ongoing and consistent basis. For some executives, this could be as intimidating as putting together a will–like facing employment mortality. Just look at the new Harley-converts the boomers have among their ranks–they’re just beginning to live. And, besides, who could possibly do this job as well as you have? But, just like a will, succession planning is the responsible thing to do. Another thing that struck me about the opinion piece we ran was that members of Gen Y were much more likely to lose their temper than baby boomers. Just one more negative characteristic forcefully flung at the Millennials. However, the opinion also went on to say that this self-management got better as people aged. I’m only on the younger end of Gen X, and I feel like I could tell you that myself. Patience and self-control increases with age and life experience, including job tasks and responsibilities, marriage, mortgages, car payments and kids. Sarah Snell Cooke Editor-in-Chief Correspondents Senior Correspondent Jim Rubenstein jrubenscut@cutimes.com (480) 941-8135 Correspondent-at-Large Eileen M. Courter ECourter@cutimes.com (813) 633-8540 Correspondent-at-Large Heather Anderson handerson@cutimes.com / (760) 481-3268 (201) 526-2333 / tgreve@cutimes.com Thomas R. Greve, Publisher 859-692-2309 BUSINESS Teresa Barron, Advertising Coordinator Amanda Schuster, Audience Marketing Director 800-543-0874 PARS International Corp. 212-221-9595 ext 407 / David.Einziger@parsintl.com David Einziger, Reprint Sales PRODUCTION Georgia Barry, Director of Production 859-692-2195 Mark Joseph, Senior Production Technician 859-692-2215 Donny Roundtree, Production Technician 859-692-2101 Steve Johnston, Director of Manufacturing 859-692-2116 To email any staff member, use firstinitialastname@sbmedia.com, unless otherwise specified. (Example – to write John Smith, his email is jsmith@ sbmedia.com.) Summit Business Media Andrew L. Goodenough President & CEO Thomas M. Flynn Chief Financial Officer & Managing Director, Corporate Shared Services Thomas A. Fowler Executive Vice President & Managing Director, Media Division John Whelan Vice President & Director, Financial/Professional Services Group William F. Reilly Chairman Send Letters to the Editor to: editor@cutimes.com or Sarah Snell Cooke Credit Union Times 33-41 Newark Street Second Floor Hoboken, NJ 07030 Business Phone: Tel. (201) 526-1230 FAX: (201) 526-1260 So one thing our parents could not have taught us with much success while they had us under wings is, not only to respect our elders, but also our “youngers.” Instead of passing them off as spoiled and lazy, Gen Y is bursting with creative genius that must be let out and, yet, tempered. Seems to me the best way to cultivate future leadership from Gen Yers is to allow that energy and talent to bubble over in a measured way. Include them in brainstorming sessions for your marketing, IT or products and services departments, or on your boards. Allow them to feel important and to be taken seriously. At the same time, current management can get a feel for who the natural leaders are; the cream will rise to the surface. While sound leadership does call for a cool head most of the time, what’s wrong with shaking it up a little? So what if Gen Yers tend to lose it more often than the boomers? As I believe, and the opinion’s data showed, that will moderate with time, and a rare and well-timed outburst can be good for the soul, the employees and the credit union. When a normally mild-mannered boss loses it once in a while, it can really put an exclamation point on what he or she says and get things in proper working order again. Really, what choice do credit unions or any other employers have anyway? The statistics in that same opinion piece startled me: There are only 46 million Gen Xers to 76 million boomers and 70 million Millennials. Now of those figures, presumably, more female Gen Xers will be in the workforce than female boomers to pick up some of the variance. Still, Gen Y will provide a deeper pool of talent than Gen X by sheer volume. Additionally, economics or not, generations are tending to stay in the workforce longer and longer, so there’s no telling when the boomers will actually leave. While they’re still around, they should exhibit the forward thinking leadership and respect for the talents of their youngers to train the next generations of leaders for the job of the next 100 years. — Comments? E-mail scooke@cutimes.com Bergengren Voted out MADISON, Wis., March 13, 1945 — CUNA’s executive committee unanimously approved a motion to remove Roy F. Bergengren as managing director of the organization. Earlier this year, Bergengren indicated that he would not be a candidate for re-election to the post and that he wished to remain in office until the group’s annual meeting this May. Several motions concerning Bergengren tenure were introduced at the executive committee meeting, but the one that was adopted called for him to be dismissed immediately and given a “promotional position” at a salary of $5,000 per year. The committee elected Thomas Doig as the group’s new managing director at a salary of $7,500. Neither Doig nor Bergengren were available for comment. www.cutimes.com SUBSCRIPTION INFORMATION To Order: call (800) 543-0874 or write Credit Union Times, PO Box 14367, Cincinnati, Ohio 45250-9780. Credit Union Times (ISSN 1058-7764) is published weekly except for the final week of the year, by Summit Business Media, 5081 Olympic Blvd., Erlanger, KY 41018-3184 at $120 for 51 issues a year. Periodical-class postage paid at Covington, KY and additional mailing offices. Postmaster: Send address changes to Credit Union Times, PO Box 14367, Cincinnati, Ohio 45250-9780. Allow four weeks for completion of changes. Reproduction is prohibited without written consent. Credit Union Times, December 2008 http://www.cutimes.com
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