The NAFCU Journal September-October 2020 - 10

LEADERSHIP DOWNLOAD

During Challenging
Times, Focus on
Your Members
By John Spence

D

uring the Great Recession, I
was coaching the executive
teams of several companies
and strongly encouraged them
to focus on four major areas as a foundation for keeping their businesses moving
forward. I'd like to share some advice
that I think will help you deal more
effectively with the current challenges
you are facing.

Take amazing care of
your employees.

Make sure your people have everything
they need to do amazing work.
Give them the resources, training,
coaching, decision-making authority
and support necessary to set them
up for success. Also, praise them
often, celebrate wins big and small,
and let them know that they are valued
and genuinely appreciated. It's likely
that many of your folks feel stressed,
isolated and fearful during these
uncertain and stressful times. Go
out of your way to show them you
care about them and you're happy
they are on your team.

Deliver world-class work.

Now is the time to make sure you deliver
to your members the absolute best work
you ever have. Surprise and delight them
with incredible member service and
unique product offerings. Be a resource
to them - even if it has nothing to do
with the financial part of their lives. You
want your community and your members to see you as indispensable, so just
be there to help.
10

Visit www.nafcu.org/management
for details on John Spence's
leadership workshop planned
for NAFCU's Management and
Leadership Institute in December.

Pay attention to members.

Get closer to your members. One of my
favorite sayings is: "Whoever owns the
voice of the customer owns the marketplace." The more you understand about
their needs and wants, the better job you
can do of delivering the things that are
truly valuable to them. It's important to
keep in mind that many of the things your
members want right now are not likely
the same as what they wanted six months
ago. Things have changed, and their
needs have changed accordingly. You
must strive to understand what they want
today. Use surveys, Zoom meetings, social
media, texts and other platforms to ask
your members how you can support them.

Focus on the financials.

I am currently coaching several senior
executives of credit unions, and I understand the financial pressures bearing
down on all of you. It is critical that you
keep a close eye on the financials of your
business, with one caveat: Don't freak out.
Yes, things are bad and will probably get
worse before they get better. But don't
let the numbers drive all your decisionmaking. Think long-term, understand the
parts of your strategy that should stay in
place and the areas where you must pivot.
In working with companies around the
world, I've noticed that when faced with
a crisis, CEOs can become indecisive and
get too deep in the weeds trying to control every detail. You have to trust your
people, give them clear direction, let them
know what success looks like and how it
will be measured, and then give them the
freedom to do their jobs.

One last thing to keep in mind: You did
not cause this; it is not your fault. I have
several clients who were running fantastic, highly profitable companies with
superb cultures that lost 90 percent of their
business in one week. They were doing
everything right - taking amazing care
of their customers and delivering excellent
products and services. But now they are
on the verge of bankruptcy. My counsel to
them has been: "Don't look at the past and
ask what you should have done; look to the
future and ask what needs to be done."
How you treat your members and your
employees right now through these difficult times will be what they remember
for years to come.
John Spence is an international keynote
speaker, executive coach and organizational trainer who has been helping credit
unions for more than 15 years.

THE NAFCU JOURNAL  SEPTEMBER-OCTOBER 2020


http://www.nafcu.org/management

The NAFCU Journal September-October 2020

Table of Contents for the Digital Edition of The NAFCU Journal September-October 2020

The NAFCU Journal September-October 2020 - Cover1
The NAFCU Journal September-October 2020 - Cover2
The NAFCU Journal September-October 2020 - 1
The NAFCU Journal September-October 2020 - 2
The NAFCU Journal September-October 2020 - 3
The NAFCU Journal September-October 2020 - 4
The NAFCU Journal September-October 2020 - 5
The NAFCU Journal September-October 2020 - 6
The NAFCU Journal September-October 2020 - 7
The NAFCU Journal September-October 2020 - 8
The NAFCU Journal September-October 2020 - 9
The NAFCU Journal September-October 2020 - 10
The NAFCU Journal September-October 2020 - 11
The NAFCU Journal September-October 2020 - 12
The NAFCU Journal September-October 2020 - 13
The NAFCU Journal September-October 2020 - 14
The NAFCU Journal September-October 2020 - 15
The NAFCU Journal September-October 2020 - 16
The NAFCU Journal September-October 2020 - 17
The NAFCU Journal September-October 2020 - 18
The NAFCU Journal September-October 2020 - 19
The NAFCU Journal September-October 2020 - 20
The NAFCU Journal September-October 2020 - 21
The NAFCU Journal September-October 2020 - 22
The NAFCU Journal September-October 2020 - 23
The NAFCU Journal September-October 2020 - 24
The NAFCU Journal September-October 2020 - 25
The NAFCU Journal September-October 2020 - 26
The NAFCU Journal September-October 2020 - 27
The NAFCU Journal September-October 2020 - 28
The NAFCU Journal September-October 2020 - 29
The NAFCU Journal September-October 2020 - 30
The NAFCU Journal September-October 2020 - 31
The NAFCU Journal September-October 2020 - 32
The NAFCU Journal September-October 2020 - 33
The NAFCU Journal September-October 2020 - 34
The NAFCU Journal September-October 2020 - 35
The NAFCU Journal September-October 2020 - 36
The NAFCU Journal September-October 2020 - 37
The NAFCU Journal September-October 2020 - 38
The NAFCU Journal September-October 2020 - 39
The NAFCU Journal September-October 2020 - 40
The NAFCU Journal September-October 2020 - Cover3
The NAFCU Journal September-October 2020 - Cover4
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