COVID-19 was the game changer. Many bank employees were able to work from home, and some of these employees prefer to continue this practice, a significant shift from traditional business operations. Varying surveys indicate 50 percent or more of employees would consider changing employers if they could no longer work remotely. Community banks, now more than ever, must “stay close” to their employees by understanding their needs and determining their levels of job satisfaction.
“Two of the biggest challenges facing community banks right now are attracting and retaining talent,” says Barbara Low, Consulting Manager at Wipfli. “Banks must be more creative than ever to attract new employees, while also focusing on their current employee population — including those who may want to retain flexibility.”
With more than 25 years of experience in human resources and consulting, Low has worked closely with many bank clients. She notes that, “Key employees are difficult to replace, and typically, other banks know who their competitors’ best employees are.”
Wipfli professionals have depth and breadth of experience in working with community banks. Talent management services include review and development of strategy and structure, and creation of the roadmap for talent assessment, recruitment, career pathing and succession planning. Wipfli can help banks adjust their talent management strategies to meet a post-COVID world.