Dear Employee, You Deserve a Reward

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.

Corporate Incentives Without Expensive Entitlements

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.

New Features: April 2023

As we prepare to give all our clients a sneak peek of BalancedRewards during the month of May, our April release was primarily focused on Rewards finishing touches. But we were still able to add in a few additional features!

2023 Bank & Credit Union Employee Salaries

Over half of credit unions and banks have reported plans to increase their staff in 2023, either overall or in select departments. Based on BalancedComp data, here are 17 compiled employee salary averages of commonly held positions in the financial industry.

Remote Work Spotlights Geographic Wage Differentials

With the increase in remote hiring, more than 50% of financial institutions have expanded their recruiting to other markets. With employees’ newfound ability to work from anywhere, geographic pay differentials (“geos”) have been thrust into the spotlight.

New Features: March 2023

Our March release is focused on speed, baby! The net result is our engineering team building features at a faster pace, and our users completing frequent or complicated features instantaneously.

New Features: February 2023

While our primary focus for February has been polishing up our new corporate bonus planning software, BalancedRewards, we’ve also worked in some small but mighty improvements to our BalancedComp and BalancedResults apps.

New Features: January 2023

This release was entirely based on client feedback. We reserve December for responding to increased client needs and quickly building and releasing improvements for you as you are in the system working on budgets and performance reviews this time of year.

Why CEO Pay Ratios Don’t Really Matter

Is it out of line for the Chief Executive of a successful company to be paid hundreds of times the salary of their average employee? Or are these high salary discrepancies are deserved?
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