Independent Banker - June 2022 - 53

is committed to this goal, according to the Center for the
Future of Work.
That creates an opening for family-owned community
banks, which have a head start reaching out to this
demographic to demonstrate values such as honesty, good
corporate citizenry, family and public service.
" Values are huge in that Gen Z range. That's the 'why'
behind the business, " says Stephanie Larscheid, executive
director of the Prairie Family Business Association, a
resource for family-owned businesses nationwide, based in
Sioux Falls, S.D. " If you can get the children championed
around the values, it can have a lot more impact than just
money or a corner office. "
One of the best ways to communicate those values
immersing Gen Z in community banking culture.
For the youngest members, that can mean high-level
conversations about the successes and challenges of being
a community banker or bringing them to state association
and national banking conventions.
" That [attending community banking conferences]
was a huge influence on me because I saw how my father
interacted with his peers at other banks. There's lots
of camaraderie and they relied on each other for a lot
of things, " says Anita Drentlaw, president and CEO of
$193 million-asset New Market Bank in Elko New Market,
Minn., and a fourth-generation community banker who
succeeded her father.
" It helped me understand what banks do and how they
help their community, " she adds. " He was always good
about talking about that. That's something I try to continue
to do with my husband and kids. "
She's also given her daughters, Mikayla, 17, and Emily,
14, jobs at the bank. Both work as custodians together at
5 TIPS
FOR ATTRACTING AND
RETAINING GEN Z
Want to make your family-owned
bank an attractive option for Gen Z
family members? Stephanie Larscheid,
executive director of the Prairie Family
Business Association in Sioux Falls, S.D.,
offers five best practices.
1. Require outside experience. Families
should consider requiring Gen Z family
hires to gain outside experience at
another company-whether it's two,
three or five years-before applying for
a job at the family bank. Some banks
even require they earn a promotion
first. This reinforces the idea that
joining the family bank is a choice the
child gets to make.
2. Ensure a good fit. It can be a mistake
to give a family member a job just
because they are down on their
luck or are struggling to find the
right workplace. Make sure a family
member's skills make sense for
the job.
3. Establish expectations. Have policies
in place to set expectations and
pay attention to how family hires
interact with customers and staff.
Family members shouldn't be direct
supervisors of other family members.
4. Talk about values from an early age.
Some families hesitate to talk about
business or money because they fear
it will make the children feel entitled.
Don't just talk about success-talk
about values like honesty and giving
back to the community.
Jon Harrell and son
Max work with each
other at Generations
Bank in Rogers, Ark.
5. Communicate. The strongest families
have a foundation of trust. The sooner
these relationships are developed,
the better.
independentbanker.org Q 53
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Independent Banker - June 2022

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