The Definitive Merit Increase Matrix for 2023

 Every financial institution relies on some form of a merit increase matrix to ensure that they are paying for the performance of their top employees. 2023 is shaping up to be the most consequential year to date for compensation. Having an accurate and timely merit increase matrix will help to guide you through turbulent times in the financial industry.

Recruiting Insight: Key IT Positions

 IT jobs are in high demand across all industries, and it can be difficult to recruit top talent at your bank or credit union. The following are some guidelines and best practices to follow for effectively finding and keeping the right technical talent for your organization.

6 Hard Business Lessons I’ve Learned in the Past 12 Years

 Over the past twelve years as CEO of BalancedComp, I have learned some hard-won lessons about growth mindset, best practices in hiring, and more. The following are the hard lessons I have learned that have shaped me as the CEO of a small business.

Recruiting Insight: Commercial Loan Officer

 A Commercial Loan officer, at any level, is one of the most difficult positions to recruit for at a bank or credit union. There are several key factors in determining whom to hire, at what level, and how to determine expectations of their existing client portfolio. Let us help you break down all of the parts and components of this position and how you can work smarter to hire and retain talent in this department.

The Great Resignation or The Great Realignment?

 This is proving to be one of the most difficult periods for HR managers at banks and credit unions. Hiring and retaining talent is a top priority nationwide and everyone is trying to find the best practices for building a successful work culture and compensation packages at all levels. With crisis comes opportunity and in this case, The Great Resignation is showing a surprising silver lining for financial institutions that can capitalize on it.

How Culture Can Help Combat The Big Quit

 We are in the midst of one of the greatest ages of employee turnover in recent history. While some are changing jobs because of better pay or a career change, many more are quitting their jobs due to toxic work culture. We interviewed Heather Hernandez, a VP of Human Resources and a BalancedComp client regarding the positive work culture changes she has implemented, which have had a positive return on employee retention.

2022 Salaries of Employees at Banks & Credit Unions

 The Great Resignation is having rippling effects on salary expectations for banks and credit unions nationwide. Based on BalancedComp data, we have compiled the average salaries of 17 commonly held positions in the financial industry.

This is the Year of Equal Pay

 2022 is the year of “equal pay” for women at all levels of work. State and city legislation is being implemented across the country so that all workers know what the salary range is for jobs they are applying for in advance. What does this mean for financial institutions moving forward?

New Features: February 2022

 BalancedComp’s latest product updates put your productivity into overdrive.
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