The Cooperative Bank of Cape Cod has been named one of the Best Banks to Work For by American Banker magazine for the fourth consecutive year.
Anticipated each year as an additional industry barometer of an institution’s internal health, American Banker’s “Best Banks to Work For” ranking is monitored by account holders and investors as well as employees. The annual survey and awards program identifies and recognizes the industry’s best employers while providing banks with valuable employee feedback.
American Banker recognized 90 banks across the U.S. in its 2023 Best Banks to Work For ranking, based on an anonymous employee survey and a thorough review of benefits and perks offered. The Cooperative Bank of Cape Cod ranked 74th on 2023’s list, lauded specifically for its efforts in staff development. The Coop’s in-house three-year leadership program called "Leading the Way" cultivates current and future supervisors and managers among employees who already possess familiarity with customers and the community.
“The banks recognized on this list are trying hard to create workplaces that employees want to join,” said Chana R. Schoenberger, Editor-in-Chief of American Banker. “Especially during this moment when companies are experiencing a shift in how, where, and how much employees work, banks are paying attention to how they can best retain their people.”
Determining the “Best Banks to Work For” involves a two-step process. The first step involves an evaluation of participating companies’ workplace policies, practices, and demographics. In the second step, employee surveys are conducted to directly assess the experiences and attitudes of individual employees with respect to their workplace. The combined scores determine the top banks and the final ranking.
“With record low unemployment rates, increased competition for talent and an evolving post-pandemic work environment, it is now more important than ever to attract and retain employees with innovative policies, benefits, career advancement opportunities and a flexible work environment,” said Lisa Oliver, Chair, President and CEO, The Cooperative Bank of Cape Cod. “We are proud to be considered a national leader – for the fourth consecutive year – in employee satisfaction.”
Full results of this year’s program are available at https://www.americanbanker.com/list/best-banks-to-work-for and in the November issue of American Banker magazine.