ABA Banking Journal - September 2007 - (Page 26)

Community Banking bank’s salary and benefit expense low. We have gone in a different direction. When hiring becomes necessary, our strategy is to seek out the most experienced, friendliest tellers using the word-of-mouth method. We simply ask our customers if they know of a good candidate working elsewhere that might be interested. We recognize that there is no substitute for a teller who is fast, efficient, and knows our customers personally. They are often the first and most frequent point of contact between customers and the bank. If we fail here we have failed completely. In order to get the right staff, we have had to raise our level of compensation and be more flexible in our work scheduling with the tellers. And when necessary, we have supplemented the line with part-time, peak-time tellers. In the end, we have found that the added compensation cost is relatively small when compared to the cost associated with the capture and retention of quality bank customers. with a local community college to create a “financial services” specialty that would provide basic training and financial literacy to students, with a promise to hire them upon completion. This initiative needs the support of other local financial institutions before it can become a reality. Teller salaries have increased in line with other salaries. We feel our compensation structure compares very favorably in the market we are in. In addition, BankNewport just received notice that we have been selected as one of the “Best Places to Work” in Rhode Island. (This designation came from Providence Business News, the Society for Human Resources Management, the R.I. State Council, and Best Places Group.) We hope to use this recognition extensively in our recruitment. Quick Remedies “What are you doing about tellers?” • PAYING MORE While some bankers don’t think salary is the problem in their market, others have swallowed hard and boosted teller pay. Others are promoting, when the opportunity arises, their generous benefit packages. For example, Blair Hillyer, president and CEO, First National Bank, Dennison, Ohio, $163.2 million-assets, says his bank has maintained a defined-benefit pension program for almost 30 years and he intends to keep doing so. • MAKING THE JOB CLEAR UP FRONT. One strategy is to improve the bank’s job descriptions for the position, to ensure it is clear what is expected and required. One bank has added compliance issues to the interview topics, to be sure the candidate is someone they can count on to get this ticklish business right. • TYING IN WITH EDUCATION SYSTEM. Many banks said they have linked up with local educators, to obtain the kinds of entry-level employees needed. • EMPLOYEE REFERRALS. Many of the banks have formal or informal efforts for finding tellers through existing employees. Robert E. Maddock, executive vice-president, community banking group, at $1.04 billion-assets BankNewport, Newport, R.I., said the savings bank is developing a “talent scout card” employees can present to good customer contact people they meet during their own errands, to encourage them to give the bank a try. • NEW FORMS OF OUTREACH. Banks are also using technology to find talent. Community online job boards, websites like Monster.com, specialized “e-cruiting” software residing on bank’s website, all have had some payoff. • BRAGGING. Some banks have been voted “Best Places to Work” by local publications or other organizations. See www.passtheaspirinplus.com for more. Remedy 4 Kate Marcum, president, Millbury National Bank, $62.1 million-assets, Millbury, Mass. We were having a problem, not so much with finding tellers, but with a large turnover of tellers. We have started hiring all tellers through a temp agency so they are on a 90-day trial period. Before they are on the “bank’s payroll,” we get to test them out and they us. If they do not work out, there is no long documentation process to terminate them. We have had success with this. For summer help, we have had the most success with college kids who are “known” to the bank. These have included children of friends of employees, and children of employees. They seem to have had a better work ethic and show more commitment to their summer schedule. And when we find a crackerjack teller, we begin cross training to keep them motivated. ••• The answers of all bankers answering this question appear on www.passtheaspirinplus.com. Additional answers are posted from Pat Redmond, president and CEO, Viking Bank, Seattle, and Pat Glotzbach, president and CEO, New Washington State Bank, New Washington, Ind. Remedy 3 Robert E. Maddock, executive vice-president, community banking group, BankNewport, $1.04 billion-assets, Newport, R.I Attracting qualified teller candidates is an ongoing challenge. The emphasis is on the word “qualified.” At times when hires have been made for expediency, we have most always regretted the decision. Much of Newport County is surrounded by water and therefore we have a somewhat limited market to draw from. The bank recently decided to partner with Mason & Kichar Recruitment Advertising, Inc., www.masonkichar.com, a new recruitment advertising agency that specializes in marketing, advertising, and public relations to attract qualified people to companies. Additionally, we are developing a ”talent scout” card that employees can hand to individuals who provide them with noteworthy service. The size of a business card, this card will highlight career opportunities and selling points of the bank. The bank has discussed a partnership 26 SEPTEMBER 2007/ABA BANKING JOURNAL http://www.mnbonline.com http://www.mnbonline.com http://www.banknewport.com http://www.banknewport.com http://www.masonkichar.com http://www.passtheaspirinplus.com http://www.passtheaspirinplus.com http://www.vikingbank.com https://www.newwashbank.com https://www.newwashbank.com http://www.passtheaspirinplus.com

Table of Contents Feed for the Digital Edition of ABA Banking Journal - September 2007

Contents Editor's Column Briefing: Why Money Sense is a Top Priority Briefing: Sleight of Mind Briefing: Snapshot: What the First Half Tells Us About the Second Half Briefing: ABA Resources ABA Chairman’s Position Briefing: Get Away and Get Ahead: ABA's Banking Leaders Forum Community Banking: Trim the Fat: Winning the "Battle of the Buck" Community Banking: Pass the Aspirin Cover Story: Meeting the Challenge of the "Unbanked" Bank Marketing: Don't Miss the Boom! On the Job: Time to Power Up Your Presentations? Insurance Sales: The Art & Craft of Cross Selling Tech Topics: The Price is Right? Tech Topics: Security: Protect Information First Tech Topics: Hackers for Hire? You Bet'cha Tech Topics: Case in Point: Tellers Scan, Too, at First Federal Compliance Clinic: Adverse Action Clarified The Economy Banker’s Mart To Advertise/Index of Advertisers

ABA Banking Journal - September 2007

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