What Credit Unions Can Learn From Yahoo's Shake-Up

Whatever the outcome, there’s a lesson here for credit union executives in taking a major risk to jump-start stagnant growth and productivity.


Marissa Mayer just made a big statement to her Yahoo employees: Physically show up, or you’re out.

The new, no-telecommuting policy at Yahoo will go into effect in June and will mainly impact the 200 full-time telecommuters. It could also affect those employees that spend most of their time in the office but rely on flexible work hours to meet the needs of their home-lives.

While critics came out in full force to blast Mayer’s decision, many thought leaders showed their support — not necessarily for her statement, but for making a statement. Those supporters recognize that a statement so bold will have a major impact on the organization culture of Yahoo. And at this point in the company’s life, a big shake-up is what it needs.

While we’ll have to wait and see whether this new rule will aid Yahoo in its recovery or bring it closer to its demise, credit union executives can learn a lesson from this right away: If your credit union needs a major change, consider an organization culture shake-up.

You don’t have to agree with Mayer’s all-hands-physically-on-deck philosophy — you may want to embrace the idea of a portion of your staff working remotely. But your culture shake-up doesn’t need to revolve around your employees’ schedules — if your credit union’s performance or your employees’ productivity seem to be stagnant, another type of big change may be just what your credit union needs to dig itself out of its rut.

Maybe for your credit union, it’s about building a united culture within your staff to create a warmer, more personal brand: creating opportunities for employees to interact more on a personal level, instituting wellness initiatives, defining the roles that each group of employees plays in your success.

Or maybe it’s about creating a full team of universal employees to improve productivity and better serve and retain members: requiring financial literacy training, introducing a peer training system, and updating employee titles to reflect broader responsibilities.

An organizational culture change can come in many forms, but its goal is the same: shock a company or credit union back to life.

Have you successfully instituted a major culture change in your credit union? Tell us about it in the comments!


March 11, 2013

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