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Believe in Data

Sharing Successes

As the annual list of Best Banks to Work For 2023 ranking is released by American Banker, one consistent theme runs across financial institutions of all sizes. Banks that focus on building more engaging employee experiences do better in the short and long term to attract and retain talent AND deliver better customer experiences at the same time. “There are areas where organizations can bring together customer experience and employee experience to drive improved business outcomes,” according to a Financial Brand article about employee engagement. But how are successful institutions doing it?  

One inspirational bank that landed the #3 spot on the list for institutions with more than $10B of assets is Origin Bank. This Louisiana-based financial services leader takes employee experience so seriously that they conduct quarterly confidential surveys of all staff members to ensure their culture is being reflected and integrated across the brand – from top to bottom. “What has always been at the center of who we are as an organization is our deep commitment to culture,” says Drake Mills, Origin’s chairman, president and CEO. “We have a passion to be there for our employees, customers and communities when they need us most.”  

Click here to find out more about how banks are building better experiences for their employees.

Data You Can Use

0 %
Of Gen Z respondents feel it’s very or extremely important for an employer to share their values
Data

The Story:

As the Gen Z population is set to make up 27% of the workforce by 2025, a new survey finds that when it comes to work, Gen Z employees want their employers to demonstrate good corporate citizenship and embody values that align with their own. Given that finance is the most desirable career path for Gen Z, ensuring a bank or credit union has a strong lived purpose is foundational as they seek to attract the next generation of workers. Fortunately, seven out of ten financial services marketers are already focused on acting on brand purpose to highlight differentiation for their institutions. 

The Takeaway:

To attract Gen Z talent, financial brands must be both purpose driven and authentic. “As important as it is for banks to be a positive force in a range of global topics, such as addressing the climate crisis or aiding social equality, it is equally as important that this narrative is articulated and well-understood in the talent market,” according to EY. This means communicating with clarity and commitment about a brand’s vision and values. “Sharpening the narrative around purpose and social impact is particularly important for banks appealing to Gen Z talent, as this cohort typically gravitates toward organizations they view as authentic or trustworthy.”

Source: EY, “How Banking On Gen Z Talent Will Make or Break the Future of Banking,” July, 2023; CFA Institute, “2023 Graduate Outlook Survey,” July, 2023; and Accenture, “The Great Marketing Declutter” August, 2023

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