What do you do if your banking institution is struggling to attract and retain top talent?

Utilizing my 15+ years of Recruiting expertise in Banking industry, I would tackle Talent Acquisition challenges by strengthening the employer brand. I would focus on the unique culture growth opportunities and employee benefits. Additionally I would discuss competitive compensation and packages and perks to attract top candidates. By fostering a supportive and inclusive workplace environment that ensures employee satisfaction and retention ultimately driving the institution’s success.

This has to go back to basics and a root cause analysis first. What is driving the attrition. What is the plan/ journey to fix it? To fix a problem, very simply you need to understand the multiple drivers at play and make a plan! Culture is a huge part of this. Understand how this is out of kilter is key to knowing how you drive the change. Leadership need to be onboard and help drive the reset. We need to remember the human element, we spend most of our time with our colleagues to fostering a welcoming, rewarding culture is crucial.

Evaluate compensation and benefits to ensure your compensation and benefits packages are competitive within the industry. Offering attractive compensation, including competitive base salaries, commission structures, bonuses and benefits, can help attract and retain talent. Provide professional development opportunities for career advancement. Create a supportive and inclusive environment where people feel valued. Offer technology and tools needed to steamline operations and increase efficiency and better serve customers. Solicit feedback from team members about their experiences working at your institution. Listen to their concerns, ideas and suggestions for improvement.

It depends on various specific factors of the institution in question, such as size, culture, the market it operates in, positions that face difficulties in filling, among others.

Money. It’s money. The answers always money. They more experienced and valued one becomes, they move up, and when moving up, more money usually comes. Now we’ve gotten used to employers destroying people by adding in tidbits of work and responsibilities outside their role and continuing to pile it on. When it’s too much or insane, they simply leave. Usually for better pay. Money is the answer

The offer process must be efficient. It's a dog-eat-dog world out there, and companies will lose candidates if the interview and offer process takes too long. After a few interviews, the company should make an offer or inform the candidate they're not moving forward. Make a verbal offer reviewing all aspects including base, variable comp, applicable transition comp, benefits, production expectations, etc. Don't leave anyting out. Then make sure all information is included in the written offer and additional docs (benefit info...). And, please!, double and triple check the offer. There should be zero mistakes! The written should mirror the verbal, with no surprises.

I might be reading this wrong...but if the place where I keep my pennies is not able to staff itself with competent people... I am switching banks.

Pick up a new Banking client - A headhunter's mission is to hire people. When companies are unable to do it, there's a shocking number of companies out there that struggle to hire and retain people.