Archive for March, 2015

When we call someone to recruit them, they hold most of the cards. They don’t have to even listen to our pitch, they can hang up, or simply say no thanks. Most of our candidates are passive ones who do not need to leave their current position. So why do many of them decide to go to a job interview? We always ask them this question. We wish the only reason was because we’re just that charismatic and cool, but in truth, there are many reasons why a person looks at other opportunities. Especially a passive person. These are some of the answers we receive:

Let’s get the obvious reasons out of the way first:

• Money
• Commute
• Better Opportunity

And then there are less obvious reasons:

• Change in senior management.
• Size of bank- Some want to work for a bigger bank, some smaller.
• Change in the size of companies/customer the banker will work with. Some want to move up or downstream.
• No room for advancement. The old “I have hit a glass ceiling” we call it.
• Discovering the personal negatives based around “loyalty”. Sometimes having loyalty to a company or manager equals being taken for granted. i.e. not getting a fair raise, not being considered for a promotion, etc. Many times employees sit back and watch as people get brought in, fairly or unfairly (that is not the point here) at hiring pay scales, bigger titles, better roles, nicer offices…whatever. At first the loyal employee is numb to it, but eventually, their senses are awakened.
• The work atmosphere is “cliquey,” and if you are not a part of the core group it can be difficult to get anything accomplished. It can also take a social toll and make it emotionally difficult to work in this type of environment. AKA: High school never ends.
• Hostile work environment. Pretty self-explanatory.
• Their bank isn’t lending. Lenders want to lend. DUH.

We realize that some of these reasons are beyond the control of the bank. For example, if someone is unhappy because they do not enjoy working for a big bank, there’s nothing that management can do to fix that. However, the social problems and advancement problems can be rectified. Our advice to hiring managers? Listen at exit interviews and take note of why the person is leaving. On the other hand, many times a person will not be completely honest about why they are leaving a job in order to not burn a bridge. A combination of listening to ex-employees reasons for leaving as well as the input of outside sources can help you to realize big reasons why people are willing to leave your bank. If these reasons are things you can control or improve, it is in your best interest to do so.


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