Improving Efficiency: A Quick Way to Change Your Team's Thinking - Credit Union Strategy

Credit Union industry expert and strategic planning coach Michael Hudson talks about organizational effectiveness in your credit union and specifically about a quick way to change the thinking of everyone in your organization about the subject of efficiency.

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If we spend 10 minutes a day in activities that don't produce results, across the course of a year, we've spent more than 40 hours doing that thing. However, people tend to push back when talking about the subject of efficiency because they fear their decision authority, judgment, flexibility, etc. will be taken away. Here's a quick way to help your people change their way of thinking about efficiency and turn their minds away from thinking about what it takes away from them and to instead thinking about what it brings the organization:

1. Pull your team together for 15 minutes

2. Throw out ideas of things that happen every day in your credit union that are inefficient (ex: When too many people are making a decision that should be made directly by the person dealing with the member, a computer system not functioning properly, etc.).

3. Figure out costs involved, estimate the number of times that particular inefficiency occurred in the last year, multiply the two and get a yearly cost estimate of the losses.

With this exercise, everyone becomes aware of the power of becoming more efficient. By eliminating the waste, you can improve your credit union's profitability, which means you can offer your members better rates, have a more successful credit union, and are able to grow more for the long term.

Take the time to sit down and change your people's thinking about efficiency. Not to how it adversely affects them but how it actually costs the organization money and how much can be changed by making small incremental changes. If you'll do that, you'll see the organizational efficiency of your credit union improve and will be better poised for long term success.

For more tips on improving your credit union's organization efficiency, visit http://www.CreditUnionStrategy.com

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• Improving Efficiency
• Strategic Thinking
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• michael hudson
• dr michael hudson
• credit union strategy
• organizational efficiency
• credit union efficiency