According to BambooHR®, one-third of your people plan on dumping you in the next six months. Yikes.
This begs the question, what kind of glue do you need to make sure your very best employees stick with you during a time of accelerated “employee poaching?”
To be clear… Employee retention isn’t just about the pay.
Yes, extrinsic (financial) rewards matter—up to a certain level, according to research. But quite frankly, people are more complex than being about money.
They don’t just work for money. They also work for being a part of the team—making great things happen, feeling rewarded, feeling like they’re a part of the culture, feeling like they’re making a significant difference, and knowing that they’re on a career path where they get to keep learning how to be a super banker.
It’s never been more important than now to have an awareness of what it is that employees are looking for today.
Let’s start with the basics. Employees demand some things from their bank employers. They want to be learning, they want to be growing, they want to grow as individuals, and they want to grow in their professionalism.
Let’s face it, for too long banks have used the words “trusted advisor,” but most banks are nowhere near an accurate representation of that concept. Sadly, your clients know it, too.
Not only that, your employees know they’re not really trusted advisors. They don’t feel good about themselves when they remain product sluggers.
Now is the time to make massive movement from the transactional banking model to the transformational banking model.
Answer this honestly. Do you have the right systems and the right training and development in place to radically shift your “trusted advisor” status with your first efforts?
Every time you have a false attempt in anything that you do, it’s another chance for them to proclaim that famous mantra, “This too shall pass.”
Every time you have another false attempt on improving your sales culture, the next time it gets even harder.
False attempts are infinitely costly.
If you really want to retain your best employees, take an aggressive stand to develop your people to become trusted advisors.
Let the journey begin…
– Roxanne Emmerich
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