The #1 impact is about people, how we see each other in this new way of life. I see an increase in capacity for empathy and compassion plus an expectation of self-accountability to fulfill your commitments with mastery. Revisit and refresh your succession process and plan and no longer hesitate to develop the right people or start a search to find the best of the best. We are assessing the impact on search timelines and encouraging clients to start sooner because the impact of an executive moving in the next few months may be a challenge. Boards will need a larger viable pool of CEO candidates in case of candidates withdrawing from the process. I have been saying for years that boards and CEOs need a strong partnership and both parties need to be masterful in vision, strategy, and execution. There is no more time to further compromise in this relationship. Credit unions are embracing innovation and technology in unprecedented ways. Over the past several years, many organizations have talked about being innovative, agile, and flexible and now it is a mandate. Boards that have resisted virtual meetings now do not have that choice. Organizations that procrastinated on a remote work practice are now scheduling rotations of employees at home and social distancing in the workplace. Impressive is the readiness of most credit unions with up to date pandemic policies. Teams are increasing, overnight, competency in fast-tracking membership acceptance of digital banking.
Deedee Myers, CEO, DDJ Myers, Ltd.