View Recruitment, Retention From Different Angles
J.R. Buckner, MBA Chairman, First Federal Bank of Kansas City
November/December 2022
We’re Hiring! No matter where you look, the demand for qualified employees has not dwindled. Men and women left the job market during the pandemic to either care for their children or aging parents, and many have not returned. Layer on top of that 10,000 baby boomers retiring each day for the next seven years, and you see this issue is not going away any time soon.
Employee recruitment and retention should always be top of mind for your executive team and board. Failing to do so is a great disservice to our employees, shareholders and customers. How do we ensure our banks actively pursue qualified candidates and promote meaningful engagement with current team members? The following may seem obvious, but consider them from the viewpoint of a job seeker or a current employee.
What does your website and social media say about your bank and culture?
The next generation of bankers want to be a part of something bigger than themselves. How do you convey your mission on your website and social media? If you can communicate your “why” clearly, you can attract like-minded individuals who will carry your brand forward. Banking can appear boring to the outside world; is your website boring and filled with outdated content? Do your photos and videos posted on Facebook, Twitter, LinkedIn, Instagram and even TikTok show your bank’s relationships with your customers and your active involvement in your community? Does it showcase your employees and the vast array of career opportunities your bank offers? The connections and engagement made online could potentially lead to your bank’s next hire.
What is the first impression you make on a new or prospective employee?
How are people greeted and engaged, both in person and online? Do you know your Google rating? Have you looked up what folks are saying about you on Glassdoor? Their first impression of your bank may be from the internet. Develop a strategy around managing the numerous sites and how you respond to online comments.
Do you look outside the box for employees?
Many of us never considered a career in banking. Yet here we are — banking has allowed us to grow in our careers and make a difference in our communities.
I am thoroughly convinced the reason our industry lags others is twofold. First, the regulatory burden we face is very different from other industries and hinders innovation at times. The second is we hire way too many nerds like me. Finance, accounting and business degrees are great, and we need those folks, but we need more diversity of thought. Diversity and inclusion mean something different to everyone; for me, it is hiring individuals with different backgrounds, life experiences and passions that will bring a different perspective to my organization. The folks I learn the most from on my team are very different from me, but we share a desire to serve others and have a passion for our mission. We can teach banking; you cannot teach values and work ethic.
Do you have “stay” interviews?
Many of us have staff exit interviews, but what about stay interviews for those still with you? Stay interviews are a great way to learn insights about existing employees’ career goals, what they love about your organization and areas for improvement. “What is something other people would want me to know?” is one of my favorite
questions to ask because
it takes the burden off
employees and gives them
freedom to speak freely.
What do you offer for training and development?
Investing in our bankers is a key to the success for both our individual banks and the community banking model. I wouldn’t be where I am today if not for the educational opportunities provided to me by my mentors. Many of us have greatly benefited from the conferences, banking schools, in-person seminars and the live and on-demand webinars that MBA offers. Pages 11 and 12 of this issue outline MBA’s 2023 programming. I strongly encourage you to look at these offerings and share these with your staff. Even better, register your team for these programs — it will be an investment that yields outstanding results for your bank, community and customers.
Are you a mentor?
I wouldn’t be where I am today if several individuals hadn’t poured into me throughout my career. Their faith in me greatly influenced my career, and I have taken every opportunity to do the same for the next leaders in our industry. Mentor programs don’t have to be official; just grab a cup of coffee with a less experienced banker or pull them into loan committee or ALCO meeting. Much like our customers, it is easier to keep an employee than find a new one. Make sure you spend as much time nurturing relationships with your existing staff as you are recruiting.
published November/December 2022 in The Missouri Banker