Are you looking for ways to do more with less these days? Would you like to unlock the secret to higher productivity for your team? At FiStaff, we understand financial institutions’ unique challenges in finding the right talent to drive success. Our experience in the industry has led us to frequently encounter questions from organizations like yours, seeking clarity on how we handle labor challenges. I’d like to share our solutions with you now in case they can help you get ahead!
How Can We Decrease Candidate Ghosting During the Hiring Process?
FiStaff’s solutions:
- Communicate regularly and clearly with candidates.
- Be transparent about the process and candidate expectations.
- Streamline the hiring process by decreasing the number of interviews and scheduling interviews with speed in mind.
- Provide clear job responsibilities.
- Discuss compensation early.
- Humanize the process.
- Give feedback to unsuccessful candidates.
How Do You Address the Tight Labor Market?
FiStaff’s solutions:
- Focus on the candidate experience, including streamlining the application process, using engaging screening tools, and providing clear and regular communication and feedback.
- Consider non-traditional candidates (what backgrounds or skills could transfer to a successful candidate that historically would not have been considered before?)
- Highlight aspects of the role that could potentially attract candidates looking for more fulfillment than just a paycheck (for example, They’re not just processing transactions but helping people manage their finances and achieve their financial goals.)
- Offer flexibility by implementing family-friendly policies and flexible or hybrid schedules when possible.
How Do We Engage and Retain Employees?
FiStaff’s solutions:
- Training and development: Provide continuous learning and development opportunities.
- Professional growth: Help employees envision a career path within the organization. Offer opportunities for advancement and skill development.
- Competitive compensation: Monitor compensation trends and offer competitive pay.
- Work-life balance: When possible, provide flexible work hours, hybrid work, and time off. If Saturday work is required, offer time off during the week.
- Recognition and appreciation: Build a culture of recognition for employees. Public and peer-to-peer recognition can effectively show appreciation for employees’ efforts and achievements.
- Leadership and management: Set examples and model the behaviors expected from employees. Stay close to employees to find out how they can best support them.
Do You See Many Candidates Looking for Remote/Hybrid Positions?
FiStaff’s solutions:
- We frequently see the demand for remote/hybrid work, which could significantly expand an organization’s talent pool.
- Finding ways to offer more flexibility and even one day per week of remote work would greatly increase employee sentiment.
- For example, create hybrid opportunities for Tellers by offering a schedule that includes some remote days for them to complete back-office and data-entry dutie
- Invest in technology that will address security issues around candidates working remotely.
Best Practices of Top Financial Institutions
Providing Growth Opportunities
One of our clients has embraced a forward-thinking approach to career development. They ensure that every internal applicant is guaranteed an interview with a hiring manager for new positions opened within the company. This policy underlines their commitment to employee growth, provides a transparent and supportive pathway for career advancement, and bolsters staff morale and loyalty.
Creating Community Outreach Initiatives
We’ve seen increasing candidate interest in corporate responsibility and outreach initiatives. Banks and credit unions that actively participate in local events and support community projects often stand out as employers of choice. By providing ways for their employees to contribute to significant causes, these institutions highlight their commitment to community service, a value that resonates deeply with today’s conscientious candidates.
Supporting Wellness
Work-life balance and mental health are crucial considerations in today’s job market. One of our clients weaves wellness into the workday with relaxing activities like puzzles and crafts, which are subsequently donated to community projects. They also encourage regular mental and relaxation breaks, enabling employees to rejuvenate, which in turn promotes productivity and job satisfaction.
At FiStaff we specialize in finding qualified candidates for financial institutions. Let us help you grow your workforce with high-quality financial talent. Explore the difference FiStaff can make in your strategic staffing endeavors.
