Magazine : Archives : 3rd Quarter 2022

A Shrinking Talent Pool

Labor market challenges intensified in 2021, with banks paying up to hire and keep personnel throughout their organizations, from specialized positions to entry-level staff. In the second year of the pandemic, banks confronted stiff competition for a smaller pool of talent and increased expectations on the part of workers — an environment explored in Bank Director’s 2022 Compensation Survey, sponsored by Newcleus Compensation Advisors.    Hiring managers hope that job applications will pick up as people settle into a new work environment, and that the economy will cool, easing inflation and wage pressures. But the challenges of the past year...