Many banks and credit unions just completed the biggest net income year seen in many years. This didn’t merely happen due to general strategies in place by senior managers. The interest on loans advised on, processed, and delivered by knowledgeable employees who had earned clients’ trust over the years was a driving contribution.
Organizations are shifting their corporate reward program structures, validating the importance of employee productivity and the motivations needed to help the company achieve its growth strategy and share mutual rewards.
Human Resources managers and executives are some of the most sought-after candidates for all major companies today, not just at financial institutions. The following is a closer look at salaries for HR professionals at banks and credit unions nationwide.
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.
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 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?
The new normal comes with new rules. BalancedComp’s 2021-2022 Salary and Incentive Survey provides essential intel for the changing financial industry workforce.
