A Win-Win Opportunity for Community Banks

Community banks across the country are challenged with attracting younger talent; and, at the same time, many community banks are looking to have a more meaningful impact in their communities. So, what if these institutions could tackle both at the same time?

It could be a win-win opportunity.

A recent Deloitte Insights podcast - The Authentic Edge: Getting it Right with Gen Y discusses the results of its 2007 Volunteer IMPACT Survey of 18-24 year olds. The survey revealed the importance of skills-based volunteerism opportunities in the workplace for Gen-Y. This kind of volunteerism is a departure from the typical volunteer opportunities we see at many community banks, which usually involve posting a sign-up sheet in the lunch room asking employees to spend their Saturday cleaning a local park wearing a bank t-shirt.

Certainly, the more traditional community involvement (i.e. cleaning the local park, planting trees, home building, etc.) is appreciated. But, as banks look to build stronger brands, community outreach needs to be looked at differently – as an opportunity to reinforce your message, to engage your employees and make a real, meaningful impact. Gen Y employees want their work to be worthwhile, and want to apply their skills in making a meaningful impact on their communities. There is a great opportunity here for community banks to both become more invested and involved in their communities and to attract younger talent along the way.

Next week, we will be speaking to the members of America’s Community Bankers at the association’s Annual Convention about target Generation Y as employees and as customers. Let me know if you’ll be attending.

And, I’m always looking for solid examples of community banks and credit unions targeting Gen Y - let me know what you've seen.