Community banks sometimes struggle with the industry’s reputation for stodgy workplaces when other industries offer more exciting environments.
Despite the advent of dozens of exciting new digital platforms for marketing and advertising, any marketer will say word-of-mouth is still the most coveted channel for creating new business.
For community banks looking to recruit new employees into an industry that struggles against labels like “stodgy,” the power of world-of-mouth through employee referrals is key to acquiring top talent.
The key to getting those referrals isn’t rocket science, said Bank of New Hampshire President and CEO Paul Falvey. Lenders have to create a working environment where your current employees are happy, feel productive, and are excited to solve problems for customers.
“We are very supportive of employees that are going the extra mile to take care of customers,” he said. “For us, customer service is critical … so we want to make sure we retain them.”
That effort has taken many forms at Bank of New Hampshire, from clear roadmaps for entry–level employees towards making at least $15 per hour in less than a year after joining the organization, to making sure workstations are comfortable and employees have the necessary equipment they need. Falvey said something as simple as replacing old headsets with more modern and comfortable headsets for employees goes a long way – those that need them use them nearly all day.
“It’s little stuff like [headsets], but really it’s letting managers know that they are empowered and encouraged to make good decisions that will help customers,” he said.
Regular company outings and events, comfortable and modern work environments, leadership training, tuition reimbursement and a $250 referral bonus have helped Bank of New Hampshire be named as a top place to work in the state by Business NH Magazine in 2017, Falvey said, and best in the Lakes Region for 2019 in a poll organized by the Laconia Daily Sun and sponsored by Bank of New Hampshire
Once an organization’s priorities include making sure its people are happy coming to work and proud of what they do, Falvey added, “everything pretty much takes care of itself.”
Nationally, community banks have taken a similar tack, focusing on culture and trying to create word-of-mouth campaigns. In September 2019, the American Bankers Association released a video series to support the recruiting efforts of members through its “Careers in Banking” initiative. The videos highlight the different types of careers available in banks and how community banks are focusing on creating great working environments for people with diverse backgrounds and skill sets.
The series was created by the ABA’s Emerging Leaders Council in order to attract, connect and develop the current and next generation of bankers, according to a recent press release.
“As the banking industry continues to change, so have the opportunities for people interested in a fulfilling and meaningful career,” Bob Glover, incoming chairman of ABA’s Emerging Leaders Council, said in a statement that accompanied the series’ release. “In addition to the more traditional positions people think of in retail banking, lending and compliance, banks of all sizes need talented staff to handle everything from digital banking and cybersecurity to human resources and communications.”
