Does Your Bank or Credit Union Have a True Value Proposition That Will Attract Top Talent?

This idea seems to be a simple one, and most institutions believe they do have a value proposition to attract future employees. However, when asked the question, many have the same answer: “Our superior customer service, and our dedication to our employees and the communities we serve.” While these objectives are certainly important to all three constituencies, what does it really mean for a prospective employee? Particularly when they may be hearing the same message from your competitors.

In today’s hyper-competitive market to attract the best talent, it’s important to understand that the candidate(s) that you are pursuing is thinking, “What’s in it for me?” This thought process can include one or all of the following: professional challenge, professional advancement, compensation, employee benefit package, pace of work, organization’s short and long term strategic plan, use of technology, attractiveness of the workplace, etc. So it’s important to determine what sets your employment opportunity and your organization apart from the competition.

Once that criteria is established, it may be worthwhile to consider using it to create a unique value proposition designed specifically to attract new talented people to your institution. All indications are that the conditions of the employment market next year will be very similar to 2019. Using this strategy to help create a candidate-centric approach to recruiting could help you win the battle for top talent in 2020.

 

-Christopher Kelley, Community Banks & Credit Unions