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07/13/2022

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 also…

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WRITTEN BY

Laura Alix

Director of Research

Laura Alix is the Director of Research at Bank Director, where she collaborates on strategic research for bank directors and senior executives, including Bank Director’s annual surveys. She also writes for BankDirector.com and edits online video content. Laura is particularly interested in workforce management and retention strategies, environmental, social and governance issues, and fraud. She has previously covered national and regional banks for American Banker and community banks and credit unions for Banker & Tradesman. Based in Boston, she has a bachelor’s degree from the University of Connecticut and a master’s degree from CUNY Brooklyn College.

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