The talent shortage has claimed another victim: the banking industry. Turnover continues to increase and retaining and recruiting talent are major considerations banks have to take into consideration. One way for banks to stand out in the war for talent is to offer more pay as a means to attract talent, finds new survey data.
Crowe—a public accounting, consulting, and technology firm in the U.S. with offices around the world—recently released its 2019 Bank Compensation and Benefits survey data, which includes information from 778 banks and credit unions; making it the largest survey of its kind in the industry. The survey includes information on benefits, incentives, director compensation, and Human Resource practices, as well as bank salary and bonus benchmarks for 273 job positions.