There’s a saying that if you continue to do what you’ve always done, you’ll end up with what you’ve always had. Nothing will change. Failure to adapt and change can be the end of an organization.
Community banking is witnessing the end of an era. The traditional university-to-banking pipeline has been replaced by not just one pool but many possible talent pools ready to change how banking has done business.
None of it will happen without a diversity, equity, and inclusion, program, and that’s where professional recruiters can help.
The Problem with Traditional Hiring Practices
Private client advisors understand that diversity is critical in any workforce. Employees with diverse backgrounds build a better and stronger workplace culture that is more responsive to client needs. The days of an organization having only one way to solve a problem are becoming a relic of the past.
Today’s challenges require dynamic collaboration from multiple viewpoints; different genders, races, ethnicities, religions & belief systems, and experiences.
The only way banking can diversify the workforce within their firm is to change the way they think. Hiring strategies that worked in the past will no longer work for today’s or tomorrow’s generations.
Commercial banks have to look beyond their traditional hiring practices to meet consumer needs. Top-level managers may find themselves looking for talent in places previously considered unusual: small universities, experienced influencers,
In doing so, banking leaders have made a remarkable discovery: they can hire for greater diversity when they open their minds to hiring from diverse pools of talent.
Making Community Banking Better
Hiring for diversity brings change at all levels of an organization. As a result, you’ll find yourself adapting processes and practices to accommodate a new way of thinking. One emerging trend comes from the way organizations create their banking cultures.
Millennials who work in banking want something more than a job. They want a banking culture they can embrace and support. To attract new hires to your organization, you should:
- Make your DE&I commitment top-down
- Recruit from a variety of talent pools, including small schools and underserved populations
- Allow the experience to supersede education
- Hire for diversity to bring many viewpoints, styles, and strategies together
- Sponsor and mentor new hires for improved onboarding
- Encourage social responsibility that looks out for the greater good
- Invest in employee development to show you care about your hires as people
- Align employee performance management and rewards
When you’re ready to diversify your talent pool, your recruiter can offer strategies to make the process hassle-free and effective.