August 6, 2022 / VOLUME NO. 221

What Do Your Employees Really Think?

Banks could be overlooking one proactive opportunity to enhance their reputations as desirable employers. 

Many banks use social media channels to promote their culture and reputation, according to Bank Director’s 2022 Compensation Survey, but bank executives and board members indicate their institutions are less likely to monitor their reputations on job posting sites like Glassdoor or Indeed. When asked what their bank has done to bolster its image with potential employees, 59% say their organization promotes its culture and reputation on social media; just 20% say they do the same on those job search sites. 

Source: Bank Director’s 2022 Compensation Survey

While a robust digital presence won’t make up for less-than-stellar pay and benefits, there’s a case to be made for managing your bank’s image on sites tailored to job searchers. Chiefly, you want to know what potential employees might find about your company, and maybe you want to have a say in those things, as well.   

Consultants at survey sponsor Newcleus Compensation Advisors increasingly recommend bank clients look at what people are saying about their organization on these sites. It gives you a glimpse into the perception potential job candidates have about your company. 

“What's your reputation on these sites?” says president Flynt Gallagher. “Do you have any idea what your applicant pool is seeing and believing about your organization?” Glassdoor, for example, includes reviews about companies, details about the interview process, and salary and benefit information provided by current and former employees. 

Companies can’t remove negative comments or reviews, but they can respond to them and encourage current employees to submit reviews. Banks will need to delegate that responsibility and come up with a plan for handling negative comments; often, this becomes the responsibility of human resources or marketing. 

Glassdoor won’t remove reviews that a company dislikes, though it does remove comments that violate its terms of service. Glassdoor also won’t remove a company’s profile from the site, so simply opting out doesn’t make your bank less susceptible to bad reviews. 

Every bank will handle negative feedback a little bit differently, but those comments don’t always lack merit. Complaints could give your team the clues to building a better workplace. 

Laura Alix, director of research for Bank Director

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