Employee retention

An aging workforce will likely force banks to reconsider the employees they recruit, especially for executive roles.

JPMorgan Chase CEO Jamie Dimon and Bank of America Vice Chairman Paul Donofrio were among the high-level executives who last year received multimillion-dollar retention payments. The awards — sometimes known as “golden handcuffs” — were driven by the most competitive job market in recent history.

The chief executives of KeyCorp, Comerica, Cullen/Frost, First Republic and Bank of America all received pay bumps of between 31% and 64% in 2021. Here's a look at the industry's top-10 finishers.

Wells Fargo, Citigroup and JPMorgan Chase were among the large banks that last year experienced net losses of high-level bankers in their corporate and commercial units, according to a new report. Bankers are leaving largely for jobs at private equity and debt funds, according to the authors.

M&T Bank, Citizens Financial Group and KeyCorp are teaching staffers new skills and pitching themselves as innovative and fun places to work.

An ultracompetitive job market is forcing lenders to boost salaries, requiring many to caution investors that expenses could jump before profits from higher rates are realized.

Earned wage access companies are finding that their product, which allows employees to receive a portion of their salary ahead of the traditional two-week cycle, can aid nurses and other professionals in addressing the work-life imbalance that contributes to the Great Resignation.

The Florida company spent nearly $7 million in the fourth quarter on the payouts, which were made in recognition of work done during the pandemic.

Some community banks and credit unions worry that by hiring out-of-state workers to fill their many job openings, as other employers have done, they could erode community ties.

Americans are changing jobs in record numbers, posing a challenge for all employers. Here's how the Best Banks to Work For are redoubling their efforts to recruit and retain talent.

A focus on getting work done more efficiently has prompted these midsize banks to rearrange responsibilities, eliminate red tape and use technology to automate repetitive or tedious tasks. Some are also enhancing leadership development and increasing employee benefits amid an increase in turnover.

From paying for lawn care when an Army Reservist on staff was deployed to offering employees office space and laptops for their children to do school work, United Bank in Alabama aims to make life easier for the people who work there. It is also ramping up internal training programs.

This past year has proven that traditional leadership models will not take us forward. Attracting and retaining talent, especially diverse talent, depends on how well we listen to and understand the many changes in what employees value.

As part of the “New Normal” task force she created last year, Trolli set up an internal channel to provide information on topics such as managing remote work and parenting during a pandemic.

With tricked-out conference rooms, online career development tools and blocks of time for chitchat, Ally and Citizens are strengthening connections between colleagues during phased returns to the office.

More than 70% of U.S. bank workers expect their employers to allow some flexibility about where and when they do their jobs, according to a new survey from Arizent. The findings suggest that to attract and retain talent, banks will have to continue work-from-home arrangements that became standard during the pandemic.

The Texas fintech embraces a progressive culture and has taken steps during the pandemic to maintain a spirited vibe even as employees work remotely.

The Indiana-based credit union increased its starting pay for the second time in two years as part of a push to boost compensation that began in 2017.

The Eugene-based institution joined a small but growing number of credit unions that have raised their entry-level pay in recent years.