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.

How Inflation Impacts Compensation Levels

 Above-average inflation will continue to confound financial institutions that wish to remain competitive with salary compensation in 2022. This article will help you to better navigate inflation and how it may impact compensation at banks and credit unions.

What Can Make a Corporate Bonus Program Fail?

 It is better not to have a corporate bonus program than to have one that leaves the impression it is unjustifiable or unreasonable.

The Definitive Merit Increase Matrix for 2022

 Inflation is projected to reach 8% next year and if you want to remain competitive with your salary and compensation you will need to adjust your Merit Increase Matrix. We have assimilated some facts and information that will help you ensure that you are paying accurately and fairly in 2022.

7 Work Benefits That Will Attract and Retain Millennial Workers

 According to market research in the financial industry, these are the workplace benefits that are most effective at attracting and retaining millennial talent during “The Great Resignation.”
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