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The Talent War: Who thought it could get worse?

Nov 15, 2021
By: Julia A. Johnson
Financial Institutions

It's funny how something only becomes real and important to someone else when it impacts that individual directly.

For a several years now, banking industry experts and banking human resources professionals have been beating the drum “talent shortages are ahead and we need to focus on compensation, culture, leadership development (which impacts culture), employee engagement” and all those components of the employee experience that impact retention.

Simply put, the best strategy to circumvent the challenges of finding new employees, is proactively and intentionally keeping and growing your current ones.

Easier said than done I know, particularly when we are experiencing the Great Resignation (I have always unfondly referred to the period of time following a recession the employment shuffle), but when 48% of Americans are actively or passively exploring a job change, the Great Resignation is an understatement.

The good news, perhaps more people will be interested in exploring opportunities with your bank so check out Breann Streinz’s article on thoughts to consider to attract employees.

The bad news, is your people may be exploring other opportunities so re-recruit them! Emphasize their importance and value to the bank, don’t hesitate; do it now, right now. Let your teams know they are valued and appreciated — and do it frequently, proactively and sincerely.

And please, demonstrate patience with your human resources team. It is incredibly difficult to find that credit analyst, that business banker, that personal banker, that mortgage loan processor, that customer service representative. ...I think you are likely following my train of thought.

Do your part by tapping into your networks, friends and families to source candidates and demonstrate what makes your bank the best place to work. Every. Single. Day.

Author(s)

Julia A. Johnson
Director, Organizational Performance
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