As noted in previous NBA Magazine columns, attracting and retaining top talent at NBA member banks is a primary focus. Our industry is not alone in confronting this challenge. Unfortunately, workforce shortages and rapid turnover are issues that cannot be addressed overnight. Recent discussions with college students, educators, interns and recent graduates provided valuable insights for consideration.

Many college students are being heavily recruited for positions in several industries, all offering competitive wages and benefits. It is not uncommon for students to have multiple job offers months before graduation. Banks must ask themselves: “Why would someone want to work for my institution instead of another business down the street or across the state or country?”

College students actively involved in the career selection process offered the following questions and comments. While they may not fundamentally alter your bank’s workforce recruitment process, they are important reminders about how today’s college students evaluate career opportunities.

• What makes your bank’s culture special? Most organizations brag about having a positive workplace culture. How do you demonstrate yours?
• Are your website and social media current? Do they reflect your bank’s culture and values?
• Do your staff and customers reflect the diversity found across Nebraska?
• How will my role impact my community and the greater good?
• What are the opportunities for professional growth and development? What are possible career paths? What will it take to move up within the industry and the organization? How will I be challenged? What types of additional training will I receive?
• Is your candidate recruitment process current? Are job descriptions up to date? Do you accept online applications? Do you only contact candidates via phone, or are you willing to text candidates?
• Does the job application process move quickly? With multiple job offers, I may not have time to wait three or four days for a follow-up. Can you conduct initial interviews within 24 hours of receiving a qualified application?
• If I call the bank, are voicemail boxes set up for receiving new voicemails?
• Are your jobs and internships posted on Handshake (a hiring platform for college students) and LinkedIn?
• If I interview for a position and am not selected, please let me know – don’t ghost me. I am interested in feedback and input on how to make myself a better candidate.

Another workforce strategy that needs additional attention and thought relates to the structure and implementation of internships. The NBA has helped place college interns for years. Many banks say that some of the best new hires are former bank interns. However, we heard from students that not every internship is created equal. Current and former interns offered the following insights for consideration:

• If the internship is located away from my college or hometown, how do I secure housing? Will the bank help me find and/or pay for housing?
• Will I engage in meaningful work during my internship? How does my work contribute to the bank’s growth?
• If they are not involved in the selection process, will I have a chance to meet my supervisor in advance?
• Will I work in different departments of the bank?
• Do you hire interns for full-time roles?
• Does your community or region have a process or social network to connect interns working in the region?
• Will I receive feedback throughout the internship? Will the bank conduct a formal evaluation of my performance after the internship? What did the bank learn from my work at the organization?

Addressing the current workforce challenges in banking will take time, talent and money. With the guidance of the NBA Board of Directors, your NBA team is working on additional strategies designed to increase the pipeline of qualified applicants and make banking the industry of choice for more Nebraskans. More to follow!