Independent Banker - July 2019 - 56

never known a time without the internet, when information
" was not readily available at their fingertips, " Varquez
says. Many members of this generation want to work at
technology-centric companies that are innovative, and
they want to do work " untethered. " In other words, they're
looking for flexibility. The more that community banks
offer digital technologies to both customers and employees,
including digital onboarding and training processes, the
more attractive they'll be to Gen Z.
These cohorts are also ambitious. Both Gen Z and
" It's something that we work at and have
fun doing every day, making sure we have
an environment here that is inviting,
challenging, rewarding and fulfilling. "
-Peggy H. Eddens, WSFS Bank
millennials want clear development paths to obtain
higher earning potential, Varquez says. They want to
work for a stable company, a place they feel can secure
" growing with. "
" They also look for diversity and a multidimensional
workforce, not just diversity of ethnicity and race, but
also diversity of experience and backgrounds, and
diversity of thought, " Varquez adds.
What do Gen Z and millennials want most from
their employer? " Just listening to them is the most
important thing, " he says.
Recruitment strategies for banks in smaller markets
Trying to find the necessary talent in small towns and
rural areas can be tough, so more banks are now recruiting
from larger metropolitan areas, says Jeanne Branthover, a
managing partner at DHR International, based in Chicago.
" I am very successful recruiting out of big cities,
particularly people starting families who don't want to
raise their kids there, " she says. " As part of this, banks need
to research the attributes of their local community and put
together a package on how to sell their community in their
recruitment efforts. "
When recruiting locally in a small market, community
banks should foster a reputation for being the employer
that people want to work for and create a " buzz " within
the community about their workplace culture, Branthover
says. On social media, banks should post good things that
happen to employees, and they should consider letting
employees organize things like softball teams, which can
demonstrate camaraderie to others in the community. To
young people, good company culture also means offering
career development, leadership and mentoring programs.
" It's all about being willing to spend money on
training your employees, " Branthover says. " Young people
want succession plans discussed at every level, not only
telling them what their next job is going to be, but also
letting the person above them know what their next job is
going to be. "
Candidates' wish lists
Of people graduating college
this year, 76% expect to earn a
promotion one to two years after
their start date, according to a
report from LaSalle Network,
What the Class of 2019 Wants.
In comparison, only 40% of
millennials expect to earn a
promotion every one to two years.
This year's graduates, on
average, expect to earn $51,000
to $60,000 in their first job out
of college. Of those who have
already accepted a job
offer, about 45% will
earn the same amount
of money they expected,
44% will earn more and
just 11% will earn less.
As for benefits, Gen
Z most wants medical
coverage and 401(k)
matches, but they would also
enjoy flexible hours or the option
of working from home. What's
not as important to them, at
least for now? Student loan
reimbursements, flexible spending
accounts, gym reimbursements
and pet insurance.
54 Q ICBA Independent Banker Q July 2019
Independent Banker - July 2019

Table of Contents for the Digital Edition of Independent Banker - July 2019
