The Edulogue We all know that attracting new talent post-pandemic has become difficult, and the organizational structures of many banks have been disrupted. According to McKinsey, redeploying talent is up to 20% more effective and cost-effective than hiring and firing employees. However, to do so successfully, rethinking training becomes necessary to enable an effortless transition to new roles and responsibilities. With turnover of non-officers around 20% — lower than pre-pandemic levels, yet still high — and officer turnover inching upwards, companies must adapt the training they offer to adjust to the changing needs and trends of the industry. Let’s explore four solutions to consider: 1. IMPROVE THE ONBOARDING PROCESS Onboarding begins before the first day. Maintaining constant communication with a new employee is critical. Inform them of what to expect next, how to complete all the necessary paperwork and get them excited about their responsibilities. Our training partner, OnCourse Learning, offers several On Demand webinars on this topic, such as: “5 Common Mistakes in Onboarding” and “Onboarding Your New Hire: Experience or Afterthought?” 2. FOSTER LOYALTY THROUGH PROFESSIONAL GROWTH Thanks to the automation of roles, structural changes and the loss of talent, the banking sector is challenged on an almost daily basis. This is why it is important to earn the loyalty of employees through opportunities for growth and development. ABA, OnCourse Learning and SBS Cybersecurity offer training and certification programs for every role in your institution, from legal counselor to mortgage lender, credit analyst to IT professional. You can find the perfect course on the UBA website at www.utah.bank/education. BY BETH PARKER Director of Education, Utah Bankers Association Utah Banker 12
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