Many industries will not hire a salesperson without an evaluation to determine the candidate’s skill level. While a robust resume or a smooth interview can easily impress, assessing actual skill levels can reveal critical tendencies and potential weaknesses that CEOs need to know before making a job offer. Banks realize that they need to know this same information about their current sales team. [Continue]
Bankers often think of the word “brand” in terms of customer acquisition, but when competition for talent is fierce, should recruitment branding be on their radar? Job seekers are increasingly turning to social media when looking for their next position. What can community banks do to stand out as employers of choice through deployment of their brand? [Continue]
In March, the White House directed several federal agencies to research the pros and cons of a digital dollar. This raises a host of questions for banks, particularly when it comes to deposits and loans, which, you know, are kind of a big deal. For the general public, I have to think the topic is just generally confusing. Digital payments have been with us for a long time, after all. The type of digital dollar being discussed by the Feds would look a lot to the consumer like the digital money banks move around right now. But the back end of how the money is exchanged would change. [Continue]
We have heard a lot about the Great Resignation; well, I just learned that all those people who are quitting their jobs are not necessarily happy with their decisions. Johnny Taylor, the president and CEO of the Society for Human Resource Management, declared recently that 72 percent of those folks regret their decision. For those looking to attract or keep employees, he also offered insight into workforce desires. [Continue]
I’ve come to believe community banking is somewhat of a vocation. This view has been reinforced for me by the eight honorees for “Rising Stars in Banking,” whose stories are presented this month. Each of them has already made an impact, either with their co-workers or around their communities; some are also actively bettering the industry through their activism. Many of them have done all of this while also raising families. Perhaps it’s my age, but these professionals appear too fresh-faced to have accomplished so much already. [Continue]
Climate risk, or the risk that climate-related changes pose to financial institutions, is demanding more and more attention from researchers, regulators and boards of directors. What are the federal regulatory agencies saying about climate risk? And what are the key areas your board and senior management should begin thinking about? [Continue]
With the number and kind of platforms available, bankers can find establishing an effective online presence a little overwhelming. How does a bank create an effective identity and reputation on social media while guarding against its pitfalls? To strike the right tone for a website, you must balance functionality and professionalism with allowing the personality of your bank to shine through. And who is it all for? [Continue]
For many banks 2020 and 2021 had surprising results. Liquidity and capital were strong, loan growth escalated from pent up demand, and income levels were favorable. These positive trends could lead many management teams to sit back and ride the wave, living in the “here and now.” However, complacency can lead to risk. In its 2022 Bank Supervision Operating Plan, the Office of the Comptroller of the Currency lists guarding against complacency as a top priority for examiners. [Continue]
Two years ago, after buying my first pair of Brooks running shoes, I wrote about how its CEO (a former highschool classmate) pulled the upstart shoemaker from a cliff’s edge and made it relevant in a market dominated by Nike, Adidas and Skechers. He saved the company through a combination of tough and bold decision-making. I’m not a runner, but I appreciate the fit of my Brooks shoes and have been impressed by the way the company has engendered loyalty for its brand by fostering communities of elite runners. [Continue]
We’re in the midst of an economic downturn characterized by inflation and ballooning interest rates. Geopolitical instability is the new normal. In this challenging environment, community banks have an opportunity to prepare for any shocks and aftershocks on the horizon. In the process, they’ll come out stronger than ever before. [Continue]