Posted July 14th, 2015 No Comments
Leading for Credit Union Success: The Roles of Personality and Practices in CEOs

By Murray Barrick, PhD, Texas A&M University on June 13, 2013

Filene

In these increasingly competitive times, credit unions need to have the best possible understanding of what a good CEO looks like and how to best develop a leadership approach. Our desire to better understand the key elements of CEO selection and development led us to engage Murray Barrick. Barrick surveyed a cross section of employees—ranging from entry level to C-suite—at 84 credit unions across the United States and Canada. Each survey participant evaluated the CEO’s personality, critical executive competencies, leadership behaviors, and performance. The non-CEO participants were also asked to rate their level of work engagement at their credit union. To determine credit union performance, the survey assessed the average of four bottom-line ratios as objective measures of organizational performance: return on assets, net worth to total assets, delinquent loans to total loans, and net charge-offs to average loans.

Just how important is the CEO to engaged employees and high performance? The results may surprise you:

CEO personality matters (even more than ability).

Not all abilities are created equal.

Smarter hiring can make a difference.

CEOs can change abilities and temper personality.

It’s important to engage employees—but more critical to have a good CEO.

High-performance work practices are not as important as you think.

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