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.
The new normal comes with new rules. BalancedComp’s 2021-2022 Salary and Incentive Survey provides essential intel for the changing financial industry workforce.
John, a CHRO at a bank, shared his extreme disappointment in how salary administration was handled at his previous employers and how it led to his voluntary termination.
As we come to the end of Black History Month and prepare to enter Women’s History Month, we at BalancedComp wanted to shine the spotlight on three influential black women in the finance industry that have been inspiring us this month.
Now may not feel like the right time to conduct performance evaluations. But a global crisis means compassionate and direct communication with your employees is crucial.
A thoughtful client question led us to consider what constitutes a successful incentive during this pandemic and, likewise, how to avoid rewarding the wrong behaviors.
