It’s no secret that banks are constantly scoping out the landscape of promising talent in the banking world. For many institutions, the bulk of investment in development of junior bankers comes in the way of time, training, and identifying future professional paths. However, junior bankers are also one of the most highly recruited individuals in the banking world because loyalties might not yet be developed and compensation packages aren’t quite exorbitant yet, making them prime targets for outside banks to entice away.
So, what’s a bank to do when it comes to recruiting the right people and retaining existing up-and-comers? Banks looking to acquire and retain top talent need to create strategies, some of which are:
- Ensure the right individuals are hired
- Respect and trust employees
- Allow employees the authority and responsibility to get their jobs done as autonomously as possible
- Create a positive environment that fosters loyalty and positive morale
- Give recognition for achievement and feedback on performance opportunities