Navigating Comp & Benefits Through the Pandemic

10/06/21

2021 Bank Comp & Benefits Survey Results Now Available

Despite economic challenges in other industries, the banking industry has been hiring employees during the pandemic. Sixty-two percent of responding institutions in the annual Bank Compensation & Benefits Survey said they had hired employees in 2020 and just five percent reported terminating employees last year. And yet, the OBL continues to hear from members that the hiring process has become more difficult than ever before.

Many banks also enhanced or added to their benefits during the pandemic with nearly half of the responding banks providing company equipment to employees and modifying vacation or other leave benefits. Seventy-seven percent of the responding banks provided more flexible scheduling to accommodate employee family/work/life balance challenges, and 43 percent allowed for reduced work hours to address those same challenges. 

Pandemic-related insights on how banks across Ohio have altered their practices in response to Covid-19, is just one new set of data available in this year’s survey. The survey also includes expanded recruiting and retention metrics, new Treasury/Cash Management job positions as well as data for nearly 100 other job titles broken down by assets, geography, FTEs, and market size. Also included are detailed insights on benefit offerings and director trends. 

In addition to a searchable PDF of the full report, results include access to searchable database of the compensation tables enabling users to drill down into the data. Results are $450 for members and $700 for non-members. Data-contributing members receive a 50% discount on results as well as a custom benchmarking report of the bank’s numbers compared to relevant peer groups.

 

Order your copy online today.