Employee retention

During 2020, our society has been faced with an economic crisis, health crisis, social justice crisis and environmental crisis. The pandemic has rapidly changed how banks engage with customers and employees; accelerating the shift from in-person interactions to digital engagements. Successfully leading a digital transformation requires much more than smart technology choices, culture is key.

Banks are good at updating tech for customers but need to do it for staff

The algorithms banks use to assess the financial well-being of minorities would be more effective if Black analysts crunched the numbers, says Troynica Green, a data analyst at Regions Bank.

A contentious presidential contest and social justice protests have forced employers to consider whether these types of topics should be discussed in the workplace.

Managers have been trained on how to resolve conflicts with customers. They can use that training to minimize intraoffice political squabbling.

Many employees, particularly women, are likely to become unexpected caregivers at some point. Companies should do more to ease their burden, says a top retirement and wealth specialist at Bank of America Merrill Lynch.

Banks must address the societal issues that resonate deeply with their customers and communities, says Regions Financial chief John Turner.

A comment by the megabank's CEO could be a teachable moment as financial institutions of all sizes attempt to diversify their ranks.

The community bank has developed trivia and other Zoom-based games to keep workers engaged during the pandemic.

The Best Banks to Work For package is a collaboration between American Banker and the Best Companies Group, which conducts extensive employee surveys and reviews employer reports on benefits and policies.