Independent Banker - April 2023 - 50
THE BUSINESS CASE
FOR AN ENGAGING
ONBOARDING PROCESS
The financial services sector hasn't been
immune to the Great Resignation. In 2022,
turnover for nonofficer bank employees
reached 23.4%, its highest level since
2019, according to Crowe. The accounting,
consulting and technology firm also found
that 54% of banks said retaining younger
talent is " somewhat challenging. "
People leave jobs for many reasons, but
4.
PRIORITIZE TRAINING
Jennifer Morehead, CEO of Flex
HR, a consulting firm in Johns
Creek, Ga., says there's usually a very clear
connection between training and retention.
At United Community Bank, new tellers
shadow two experienced tellers for a few
weeks at its main branch, which is also its
busiest. Phillips predicts employees who
don't have that kind of training would be
more likely to bail. " They're going to feel
way overwhelmed and stressed if you are
expecting them to just jump into a window
and help a customer without having the
proper training, " she says.
Phillips adds that trainers ask whether
new employees learn by watching or doing
and adjust accordingly. " People have
different learning styles, and if you try to
force one style on someone, they may not
be successful, " she says. " [Training] doesn't
always have to be one-size-fits-all. "
Gateway First Bank has begun introducing
what it calls " eLearning modules " on a
variety of subjects. Some are specific to lines
of business or focus on soft skills. Others are
part of the onboarding process, like courses
relating to culture, software or diversity.
In addition, a virtual instructor-led
training may complement an on-demand
module. Bowman says a course that
introduces the bank's mission and core
values, for example, may be followed by a
training event that discusses how the values
apply to the work of employees.
These online resources are useful for
engaging team members who work onsite or
remotely. " It's important that everybody has
the same experience from a corporate-level
onboarding process, " she says.
50 // ICBA Independent Banker // April 2023
it's easy to see how not being treated well in
the early days can spur dissatisfaction-and
how that perceived treatment can become a
costly misstep.
" If you're not training [new hires] correctly
and giving them the proper support, it's
just going to be more expensive in the long
run than if you had just invested in the right
procedures and training in the first place, "
says Jennifer Morehead, CEO of Flex HR.
Turnover creates other problems for
the organization. " It's bad for customers, "
says Janet Silveria, president and CEO of
Community Bank of Santa Maria in Santa
Maria, Calif., " and it's bad for other employees
who see people coming and going. "
6
The number of months
Gateway First Bank's
onboarding process lasts
Independent Banker - April 2023
Table of Contents for the Digital Edition of Independent Banker - April 2023
Independent Banker - April 2023 - Cover1
Independent Banker - April 2023 - Cover2
Independent Banker - April 2023 - 1
Independent Banker - April 2023 - 2
Independent Banker - April 2023 - 3
Independent Banker - April 2023 - 4
Independent Banker - April 2023 - 5
Independent Banker - April 2023 - 6
Independent Banker - April 2023 - 7
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Independent Banker - April 2023 - 24
Independent Banker - April 2023 - 24A
Independent Banker - April 2023 - 24B
Independent Banker - April 2023 - 25
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Independent Banker - April 2023 - 27
Independent Banker - April 2023 - 28
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Independent Banker - April 2023 - Cover3
Independent Banker - April 2023 - Cover4
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