Employee retention

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.