approach. Offer more money and lots of praise or withhold money and threaten punishment. This might work in the short run, but it does not build a culture that attracts and retains extraordinarily talented people. According to Daniel Pink, one of the world's leading experts on motivation and engagement, superior employees want to work in an organization that focuses on these three areas: “In many companies, a sense of purpose is overlooked in today's profit-focused world. Many employees feel that they are just working for a paycheck and aren't contributing to the greater good of society. Fortunately, credit unions serve a noble purpose in their communities by helping members achieve financial well-being.” Autonomy—people are trusted and encouraged to take ownership of their own work and skill development. Mastery—people see no limits to their potential and are given the tools that they need to continue to improve their skills. Purpose—people are encouraged to use their skills to achieve a “greater” purpose—for instance, getting involved in a “good cause” that they're passionate about. To cultivate an incredible culture in your credit union, invest in your leaders, your employees, your members, and the community. The ROI will be phenomenal. John Spence is widely recognized as one of the top business and leadership experts in the world. He has been working in the credit union industry for more than 20 years and serves as one of the lead instructors for NAFCU’s Management and Leadership Institute. To find out more about John, go to www.johnspence.com. 43 THE NAFCU JOURNAL JULY–AUGUST 2022
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