More than 4 million Americans quit their jobs last month, with an additional 40 percent entertaining the idea of walking out on their employers in the next 1-2 months. The Great Resignation is one of the most impactful side effects of the COVID-19 pandemic, which provided US workers time and solitude to reflect, reexamine, and redirect their professional lives.
There are many reasons people are quitting their jobs, including frustration, feeling undervalued, work-life imbalance, inflexibility, exhaustion, and lack of growth opportunities. Many companies have mobilized and poured into their recruitment strategies—offering competitive benefits, amenities, perks, and whatever they can to appeal to top talent.
Many are wondering, “How can we keep our employees?”
That’s where companies like Indiana-based Centier Bank, who was recently voted the #2 “Best Bank to Work For” in the United States by American Banker, and #1 in the state, come in. The 126-year-old community bank has won best workplace accolades from multiple organizations annually for over 15 years. The ranking was based on extensive employee surveys and by reviewing employer benefits and policies. Additional factors like volunteering and charitable contributions, as well as leadership philosophy, recruitment, and diversity–among other areas—were determining factors.
“It’s about sharing best practices to help other companies do better and create better workplaces,” explains Mike Schrage, CEO and Chairman of Centier Bank. “Centier has a unique corporate culture and we place our associates at the top of the organizational chart. That model helps us retain a high percentage of our associates year after year. We have many people who stay working here for life.”
Chrisanne Christ, Senior Partner overseeing Human Resources Development, said that when it comes to building a reputation of being “the bank everyone wants to work for,” Centier delivers on that promise.
“We’ve been recognized for offering benefits like daycare reimbursement, an internal associate emergency fund, generous time off, and even a free on-site clinic for our associates and their family members to use to visit doctors and get prescriptions at no charge. We are consistently looking for ways to take care of our associates and make them feel valued.”
As Millennial workers grow in demand, so do their desires from a career. Being pegged as the “smartest” generation doesn’t just mean they desire higher wages—though, that goes without saying—it means they crave a values-based workplace that nurtures individuals holistically.
Centier Bank say they saw these trends coming years ago and began to offer sought-after perks like an Employee Assistance Program, an on-staff wellness coach, and workout facility in order to up the ante.
“Our unique geography between Chicagoland and Indianapolis Metropolitan areas, combined with the fact that we are an independently-owned financial institution puts us in direct competition with some of the world’s most recognized companies,” Christ said. “We want that talent just as much as they do and want to attract the best candidates. It’s been effective, because we are a company that recruits people, not just their resumes.”
As The Great Resignation marches on, job seekers are capitalizing on opportunities, knowing that they will likely get incentivized offers they can’t refuse.
“When our associates feel valued, they are able to show up to work as their best selves and to help assist and guide our clients,” Christ explained. “Clients value that personal relationship, and when everyone is valued, it creates a ripple effect that spreads out into our communities, and that is significant.”
For more information about Centier Bank, go to centier.com.