Employee retention

Since August, Truist, KeyCorp and Goldman Sachs have granted one-time stock awards to certain executives they want to keep in place. One analyst wants shareholders to reject the bonuses, while consultants say there are valid reasons for banks to make the awards.

Customized perks, AI-driven solutions and even freelance employees are all in play at banks as human resource managers confront the challenge of recruitment and retention.

Amid growing awareness of mental health needs in the workplace, some banks are doubling down on benefits that go beyond traditional employee assistance programs. What's behind banks' heightened focus, and what's the long-term strategy for investing in this area?

Two Northeast banks will get new CFOs next month. Webster Financial hired Neal Holland, the former CFO of the failed First Republic Bank, and Eastern Bankshares hired David Rosato, who left Berkshire Hills Bancorp last month.

Due to retirement, burnout, heightened regulatory standards and profitability challenges, lots of lenders are looking for new chief financial officers. The wave of departures is giving banks a chance to bring in more highly skilled finance chiefs.

The application deadline for this annual ranking is May 10.

Meritrust Credit Union in Wichita is giving $400 to each of its 370 employees to start or grow a rainy day fund.

The financial institutions in American Banker's Best Banks to Work For ranking are skilled in hiring new talent and ensuring those employees want to stay.

Neglect of the employees who personally interact with customers can undermine even the most carefully crafted business strategy.

When running a bank branch, there are certain employee behaviors that must be nonnegotiable. But that still leaves plenty of room for improvisation and creativity.