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Banking on Digital Growth Podcast

Unraveling the Real Cost of Hiring and Retaining Employees (with Joey Coleman)

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Brief Summary of Episode #334

Ever paused to ponder the true cost of bringing on a new team member?

Reflect on an open role within your financial institution, be it a bank, credit firm, or FinTech.

It's not just about the salary they'd earn.

Remember to account for perks and potential tax implications.

Now, take that figure and multiply it by three or even four. Surprised?

That's your actual hiring cost.

A staggering 65% of professionals in the financial domain could be scouting for new opportunities, as highlighted by a PwC study.

So, how can you make your organization an irresistible place they'd never want to leave?

Find out with speaker and author of Never Lose an Employee Again: The Simple Path to Remarkable Retention, Joey Coleman, on this episode of the Banking on Digital Growth Podcast.

Key Insights and Takeaways

  • Work-life balance and integration for leaders (12:06)
  • Employee well-being and its impact on business (29:43)
  • Retention and respect in the workplace (36:40)