The Best Banks to Work For with between $3 billion and $10 billion of assets are very focused on getting work done more efficiently.
The chief executives at the Best Banks in this size range highlighted the ways in which they rearranged responsibilities, cut out red tape or used technology to automate repetitive or tedious tasks.
One of the the priorities at Seacoast Bank, for example, is investing in the latest technology to stay competitive, while continuously looking for ways to streamline processes to make work easier, said its president and chief executive, Charles Shaffer.
The $9.3 billion-asset Seacoast in Stuart, Florida, has found that there is a side benefit to its tech focus when it comes to attracting new employees. "While it's certainly a competitive marketplace for talent, we find that our culture of innovation and improvement is an essential aspect of our recruiting efforts," Shaffer said.
Origin Bank recently created a department that looks for areas where robotic process automation, or RPA, can create efficiencies and minimize manual tasks. The bank is targeting processes that have to be completed after hours, requiring employees to work outside the normal business day.
“RPA has given them valuable time back and promoted a better work-life balance,” said Drake Mills, president and CEO at the $7.2 billion-asset bank in Ruston, Louisiana.
Executives at these midsize banks also had plenty to say about providing leadership development and recognition for a job well done. And though they may have different approaches to getting results, one thing they have in common is a focus on continuing to improve. This typically entails seeking employee input and acting on it.
Consider Lakeland Bank in Oak Ridge, New Jersey, which tweaked its retention strategy based on what it heard from employees who chose to leave the bank.
After taking a closer look at rising turnover, Lakeland executives saw that it was concentrated in entry-level and consumer-facing positions. In exit interviews, those employees said they were leaving for better compensation, flexible working arrangements, or better career advancement opportunities.
The $7.8 billion-asset bank took several steps in response, including more flexible scheduling and adjustments to total compensation packages. Finally, it expanded its career advancement program, which has already yielded an increase in internal promotions during the first half of 2021.
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