Magazine article ABA Bank Marketing

Attracting Top Talent

Magazine article ABA Bank Marketing

Attracting Top Talent

Article excerpt

This is the first of a two-part series on attracting, retaining and motivating top people.

Attracting, retaining and motivating people ranks as a fundamental concern of senior executives in all industries. In the banking industry, there is no question that employing the best and the brightest can transform products from "commodities" to value-added services. The economic shakeout has resulted in a perceptible increase of people in the job market. As you evaluate your people strategies, though, think in terms of talent not of labor. Make this distinction from the beginning, and it will make a big difference in your results. This is especially true in today's economic conditions because a larger labor pool does not equate necessarily to an abundance of talent.

The tighter economic situation makes this process more rigorous for banks. You may be experiencing internal belt-tightening, which makes it more challenging to recruit new people. There is less perceived room for mistakes, so your people may take fewer risks.

Use your best marketing savvy as a tool to attract top-notch people to your team. The points that follow are relevant for attracting not just employees, but free agents, strategic partners--even strategic vendors.

Your current people are your best-kept secret. If they are stimulated, productive and content with their work, they will naturally attract like-minded people, This works both ways, however. If they just mark time in the office and aren't enthused about their work, they will attract similar candidates. When people come in for interviews, they pick up these signals, whether the messages are conscious or subconscious.

Not just for executives. These impressions are important at all levels of your organization. I recently met a client for an 8 am. Monday breakfast meeting. The receptionist was as cheerful and professional as the CEO. …

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