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With so many companies now hiring, it can be a race to get a competitive, first offer out to candidates. These days, if companies don’t make an offer within two weeks of the first interview, the prospective employee is very likely to receive another offer from a competitor sooner. Retaining top talent is also more challenging than ever. Often based on a simple LinkedIn profile search, many recruiters are luring existing workers away by offering significantly more money to join a new organization.
As employers strive to navigate this new normal in the workplace, these are some of the attributes many candidates are seeking when evaluating whether to join a company.
- Company culture
- Wellness initiatives (physical health, mental health, financial health)
- Continuing education
- Flexible work environment
- Defined career path
Here is one way PNC is assisting our clients in this challenging environment: Earlier this year we participated in the American Heart Association’s (AHA) annual workplace symposium. The 45-minute breakout session focused on the importance of annually reviewing employee benefits, and what to consider when selecting or contemplating a change to a new or existing benefits plan.
Our Organizational Financial Wellness (OFW) group offers a suite of financial wellness education tools and resources for our clients’ employees. We also provide 401k advisement services and HSA’s (Health Savings account) guidance. At the close of the symposium, our OFW group offered product-specific solutions and assured all attendees they will always have a trusted partner in us.
It is imperative to annually review benefits, expenses, and budgets. PNC constantly evaluates its vendors to enhance our benefits program. We also engage or re-engage with employees to improve retention and productivity. At the executive level, our Private Bank offers a suite of solutions through the Institute for Family Success, Trust & Estate Services.
Our mission is to encourage our current and prospective clients to take care of their greatest assets – their employees. When workers grow concerned about their finances, that can negatively impact a company’s bottom line. Studies show that financially stressed employees cost American businesses an average of $500 billion a year in productivity alone.
Through PNC’s program, we encourage and support the empowerment of employees by developing a suite of solutions for all levels of an organization at every stage of life — from broad-based employees to middle and upper management and even C-Suite Executives. Our dedicated bankers support clients in person and virtually to help with planning, education, and personalized products to meet employee needs. OFW helps employees build strong financial habits, creating a more confident and productive workforce for our clients, and that can help companies win the talent war.
Ryan Beiser is regional president for PNC Bank, Colorado. In this role, Beiser is responsible for leading overall growth across Colorado, with a specific focus on the Denver Metro area, as well as overseeing all aspects of Corporate Banking in the region. His office implements all local sponsorship and philanthropic efforts to execute PNC’s community-based goals and initiatives.
Active in the community, Beiser is a member of YPO Colorado and serves on the board of directors for Mile High United Way, the Craig Hospital Foundation, the American Heart Association of Colorado and the Children’s Museum of Denver. He also represents PNC on the board of advisors for the University of Colorado Denver Business School, the Early Childhood Leadership Commission for the State of Colorado, and the Major Gifts Council for Early Childhood Education of the Mile High United Way.