Tackling Staffing Challenges with Smart Succession Planning

Nearly every credit union faces staffing shortages and leadership turnover. Without a well-structured succession plan, you risk scrambling to fill key positions when leaders retire, resign, or transition. The good news is that a proactive approach today ensures a seamless leadership pipeline for the future.

Why Succession Planning Matters

Imagine unexpectedly losing a key leader. Would your organization be able to promote from within, or would you have to start an external search from scratch? A strong succession strategy helps credit unions retain institutional knowledge, develop future leaders, and maintain operational stability during transitions.

A CEO I recently spoke with had a leadership team without a formal strategy for preparing the next generation. Their concern was that if a key executive left, there would be no clear plan for who would step up. Together, we designed a succession framework that identified internal talent, established mentorship opportunities, and created a leadership development roadmap. The result? A credit union that’s ready for leadership changes without disruption.

Practical Steps to Strengthen Your Leadership Pipeline

1. Identify Future Leaders Early—Assess your team for high-potential employees and start developing their skills before leadership vacancies arise. Intentional and early investment builds confidence and ensures smoother transitions.

2. Create a Mentorship Program – Pair emerging leaders with experienced executives to transfer knowledge and leadership skills in a structured way.

3. Develop a Leadership Training Roadmap – Offer ongoing development opportunities like workshops, stretch assignments, and executive coaching. A well-trained team is always ready when positions open up.

4. Encourage Cross-Training – Equip potential successors with hands-on experience in different departments. This broadens their skill set and prepares them to take on leadership roles with a holistic understanding of the organization.

Power Questions for Your Credit Union

• How can we identify high-potential employees early and prepare them for leadership roles?

• What mentorship structures can we implement to develop future executives?

• How do we align our succession plan with short-term operational needs and long-term strategic goals?

If you don’t have a clear succession plan, now is the time to start. What’s one step you can take this month, to invest in your credit union’s future leadership?

Whether it’s launching a mentorship initiative or starting leadership assessments, small actions today will secure your team’s strength for tomorrow.

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