Strengthening Human Capital for Success through Planning and Design
Attracting and retaining the right people are the primary factors that allow banks to increase the value of their human capital. Regulatory issues can arise, costs of funds may increase, loan demand fluctuates, competitive pressures ebb and flow, but every single year attracting and retaining the human capital to make any business successful is a top priority. Human capital is one of the smartest and financially strongest investments a bank can make.
- We create plans that focus on the people you really need to keep.
- We reinforce their commitment to your long-term game by creating the most efficient and effective mix of retention tools to instil the desired results.
- That mix is your vision statement. Your vision of the best care for the best people that also provides a safety net for the bank. We call it benefit engineering and it is all about combining people, tools and corporate goals into a benefit-engineered design that instills long-term commitment while getting the corporate ball up the field.
In a community bank, this refers to handful of key people. In the area of human capital, this is where a nickel spent is a dollar gained. We’re talking about going on the offensive to protect against the loss of the highest producers.
Get to know the ones that have the highest return on your shareholder value. Typically, they are managers. Their talent is in how they lead and influence their team. As we’ve established, competitors are actively courting them online and in person like they haven’t done since the recession hit. So now we need make them an offer that keeps their eyes on the company ball.
We need to reinforce their commitment to your long-term game. We need to create the most efficient and effective mix of retention tools to instil the desired results.