A PUBLICATION OF THE NEW JERSEY BANKERS ASSOCIATION 9 CREATING & RETAINING AN ENGAGED WORKFORCE 12 STRATEGIES TO ATTRACT, MOTIVATE, AND RETAIN YOUNG TALENT IN 2025 10 MANAGING. LEADING. COACHING. MENTORING. NEW JERSEY BANKER MAKING CONNECTIONS ISSUE 1, 2025 CONGRATULATIONS
CONTENTS What’s inside 9 CREATING & RETAINING AN ENGAGED WORKFORCE DEPARTMENTS 05 CHAIR’S PLATFORM In 2024, the competition for talent is fiercer than ever, with candidates seeking not only competitive salaries but also meaningful careers, growth opportunities, and work-life balance. 06 FROM THE NJBANKERS PRESIDENT’S OFFICE In today’s competitive banking environment, talent retention and acquisition are two of the most critical components of an organization’s success. 08 POLITICS AND POLICY Can we come together under the banner of freedom and democracy that Lincoln envisioned? 17 WELCOME NEW ASSOCIATE MEMBERS 18 MEET SOME OF OUR ENDORSED AND SELECT PROVIDERS 20 IN THE SPOTLIGHT: HR COMMITTEE ARTICLES 09 Creating & Retaining an Engaged Workforce 10 Managing. Leading. Coaching. Mentoring. A Mental Model for Flexible Leadership 12 Strategies to Attract, Motivate, and Retain Young Talent in 2025 14 2024 Rising Star Awards Winners 23 Q&A with a Bank CEO 26 Income Protection: Protecting Your Most Valuable Asset (Your Paycheck) 10 MANAGING. LEADING. COACHING. MENTORING. A MENTAL MODEL FOR FLEXIBLE LEADERSHIP 12 STRATEGIES TO ATTRACT, MOTIVATE, AND RETAIN YOUNG TALENT IN 2025 24 BANK SHOTS 25 BANK NOTES 27 UPCOMING EVENTS 3
NJBankers Officers Patrick L. Ryan* Chair President/CEO First Bank Michael P. Affuso, Esq.* President/CEO New Jersey Bankers Association Craig L. Montanaro* First Vice Chair President/CEO Kearny Bank Elizabeth Magennis* Second Vice Chair President ConnectOne Bank NJBankers Staff Michael P. Affuso, Esq. President/CEO [email protected] Jenn Zorn Executive Vice President/ Director of Education & Business Development [email protected] Jessica Jakobson Vice President Professional Development [email protected] John Mangini Vice President/Director of Marketing/Communications [email protected] Brittany Wheeler Vice President/Director of Government Affairs [email protected] Andrea Ganzman Director of Digital Marketing & Creative [email protected] Lauren Barraza Chief of Staff [email protected] Cynthia M. Zaccaro Senior Administrative Assistant, Business & Professional Development [email protected] Diane Starr Marketing & Education Database Administrator [email protected] Bankers Cooperative Group Staff Matthew W. Cooney President/CEO [email protected] Mary Pat Boutmy Vice President and Board Secretary [email protected] Andy Slobiski Employee Benefits Consultant [email protected] Doug Holcombe Employee Benefits Consultant [email protected] Theresa Jolley Accounting Services Manager [email protected] Sarah Martorina Insurance Services Analyst [email protected] Jon Robinson Benefits Analyst [email protected] Contact New Jersey Bankers Association www.njbankers.com 411 North Avenue East Cranford, NJ 07016-2436 Phone: 908-272-8500 Email: [email protected] Counsel Mary Kay Roberts, Esq. Riker, Danzig LLP Contributing Editor John Mangini Vice President of Marketing and Communications New Jersey Bankers Association NJBankers Board of directors John M. Bonhomme* Managing Director/Regional Director JPMorgan Chase Bank N.A. John Borelli, Jr. President/CEO Newfield Bank Matthew Carcich President/CEO Freedom Bank John DeSclafani SVP/Commercial Banking Lender Wells Fargo Bank, N.A. Edward Dietzler President/CEO The Bank of Princeton Catherine Franzoni SEVP/COO Manasquan Bank Jorge S. Gomes, Esq. President/CEO Lusitania Savings Bank James A. Hughes President/CEO Unity Bank Thomas J. Kemly President/CEO Columbia Bank Steven M. Klein* Immediate Former Chair Chair/President/CEO Northfield Bank Anthony Labozzetta* President/CEO Provident Bank Kevin M. Lenihan President/COO Crown Bank Christopher D. Maher Former Chairman Chair/CEO OceanFirst Bank Martin P. Melilli Market President TD Bank, N.A. Donald Mindiak President/CEO First Commerce Bank James D. Nesci President/CEO Blue Foundry Bank Kevin B. Peterson President/CEO Haddon Savings Bank Jane E. Rey President/COO Spencer Savings Bank Robert Rey President/CEO NVE Bank Ira Robbins* Chair/CEO Valley Bank Michael A. Shriner President/CEO BCB Bank Kenneth R. Totten Chair/President/CEO United Roosevelt Savings Bank James H. Wainwright President/CEO Freehold Bank * Executive Committee 4
chair’s platform How Community Banks Can Attract and Retain Top Talent PATRICK L. RYAN, CHAIR, PRESIDENT/CEO, FIRST BANK In 2024, the competition for talent is fiercer than ever, with candidates seeking not only competitive salaries but also meaningful careers, growth opportunities, and work-life balance. While community banks face challenges such as limited resources compared to larger financial institutions, they are uniquely positioned to attract and retain exceptional employees by emphasizing their personal touch, community focus, and ability to invest in their workforce. By leveraging these strengths and addressing modern employee expectations— particularly through educational and career development opportunities—community banks can thrive in today’s dynamic labor market. Demonstrating a commitment to employee growth is one of the most effective ways community banks can attract and retain top talent. Educational and career development opportunities are essential for both employees and organizations. Talented professionals seek employers who invest in their future, offering the skills, knowledge, and pathways to achieve their career goals. Candidates are more likely to join organizations that provide professional certifications, tuition reimbursement, and skill-building programs. Employees who see clear opportunities for advancement within the organization are more likely to remain loyal. Additionally, continuous education ensures employees stay updated on industry trends, new technologies, and regulatory changes, which enhances performance and adaptability. Community banks’ deep local roots provide a significant advantage when appealing to mission-driven candidates. Highlighting the bank’s role in supporting local businesses, families, and economic growth is a compelling way to attract professionals who value meaningful work. Offering opportunities for employees to give back, such as paid volunteer days or bank-sponsored events, strengthens the connection between personal and professional values, increasing job satisfaction and retention. Sharing success stories that highlight the bank’s positive impact on the community fosters a sense of pride among current and potential employees. While community banks may not always match the salaries of larger institutions, they can distinguish themselves through creative and employee-centric benefits. Offering remote work options or hybrid schedules demonstrates a commitment to work-life balance, making the workplace more appealing. Wellness programs, such as mental health resources, gym memberships, or wellness stipends, help address employees’ physical and emotional well-being. Personalized benefits, including childcare support, commuter assistance, or housing loans, further show a commitment to meeting employees’ unique needs. Talented employees value clear pathways for career advancement. Community banks can retain top performers by highlighting opportunities for internal promotions and highlighting employees who have risen through the ranks, reinforcing the message that dedication and hard work are rewarded. Providing cross-training opportunities allows employees to gain experience in different areas of banking, broadening their skills and preparing them for higher-level positions. Collaborating with employees to create personal development plans ensures they have clear goals, and the resources needed to achieve them. The close-knit nature of community banks can be a significant competitive advantage in building a supportive and inclusive workplace culture. Creating an environment where employees feel comfortable interacting with senior leaders fosters transparency and trust. Regular town halls or one-on-one meetings with executives are effective ways to achieve this. Recognizing employees’ achievements through awards, bonuses, or even simple acknowledgments in team meetings enhances morale and job satisfaction. Ensuring hiring practices and workplace policies promote diversity, equity, and inclusion creates a welcoming and supportive environment for all employees. To attract younger generations and remain competitive, community banks must modernize their workplace by adopting advanced tools and technologies. Implementing modern banking software and digital tools streamline operations and improve customer service. Providing employees with the technology needed to work remotely or efficiently in hybrid roles supports flexibility and adaptability. Involving employees in innovation projects, such as modernizing workflows or developing new products, empowers them to contribute to the bank’s evolution and fosters a culture of innovation. Attracting top talent is only one part of the equation—retention requires continuous engagement and support. Conducting regular stay interviews helps banks understand employees’ satisfaction and address concerns before they escalate. Creating systems for employees to share ideas or voice concerns ensures they feel heard and valued. Fostering strong relationships through team-building activities, social events, or collaborative projects helps employees feel connected and invested in the organization’s success. Community banks in 2024 and beyond have a unique opportunity to attract and retain top talent by emphasizing their connection to local communities and their commitment to employee growth. Educational and career development opportunities are critical for standing out in a competitive labor market. By creating a purpose-driven culture, offering flexible benefits, modernizing operations, and investing in employee education, community banks can build engaged, skilled, and loyal teams. This approach ensures the success of both employees and institutions, securing long-term growth and resilience. 5 chair’s platform
president’s office Banking on People: Strategies for Attracting & Retaining Top Talent MICHAEL P. AFFUSO, ESQ., PRESIDENT/CEO, NJBANKERS In today’s competitive banking environment, talent retention and acquisition are two of the most critical components of an organization’s success. As our industry continues to evolve and consolidate, the demand for specialized skilled professionals increases. NJBankers remains the trusted resource for professional development and employee benefits, assisting our members in developing strategies that not only attract the best candidates but also retain top performers over the long-term. To do this, NJBankers will amplify the profile of our member banks and our industry through social media to demonstrate the key role banks play in the economy and community. We will demonstrate that our industry is vibrant and forward-looking. Our members each have unique values, work culture, and a commitment to employee development. NJBankers will continue to advocate for careers in banking by highlighting the mosaic that is New Jersey Banks. While attracting the right talent is crucial, retaining it is equally important. High employee turnover can be costly, both in terms of recruitment expenses and the loss of institutional knowledge. According to various studies, retaining employees has a significant impact on an organization’s bottom line, as experienced staff contribute to higher productivity, customer satisfaction, and overall company performance. Effective talent retention begins with understanding the needs and motivations of employees. For many, compensation is a key factor, but it is far from the only one. Organizations that offer competitive salaries, bonuses, and benefits packages are more likely to attract and keep top performers. However, non-monetary factors such as work-life balance, career development opportunities, and a positive culture play an equally important role. Successful talent management involves creating an environment where employees are motivated, engaged, and given opportunities to grow, while also ensuring that the right talent is brought into the organization to meet current and future needs. Career development is a major driver of employee retention. Employees who feel that they are learning new skills, gaining experiences, and being groomed for future roles are more likely to stay with an organization long-term. NJBankers is a trusted partner in creating such an environment. NJBankers committees and seminars play a key role in individual learning and networking for every discipline across the bank. Our committees include: ɨ Bank Secrecy Act Committee ɨ Bank Technology Committee ɨ CFO Committee ɨ Commercial Lending Committee ɨ Compliance and CRA Committee ɨ Diversity, Equity, and Inclusion Council ɨ Emerging Leaders Network ɨ Enterprise Risk Management Committee ɨ Government Relations Committee ɨ Human Resources Committee ɨ Internal Audit Committee ɨ Legal Committee ɨ Philanthropic Committee ɨ Public Relations and Marketing Committee ɨ Residential Lending/Loan Servicing Committee ɨ Retail Banking Committee ɨ Security Committee In addition to these vertical opportunities, NJBankers provides horizontal programming for each career stage from Emerging Leaders to Mid-Career Bankers, to the C-Suite. While these opportunities for development abound, most people come to work for compensation. NJBankers also offers an exceptional resource in employee benefits, Bankers Cooperative Group. BCG provides a robust offering of competitively priced employee benefits, from the traditional health and dental insurance offerings to other fringe benefits that offer value to your institution and your employees. BCG can demonstrate the value of these benefits in compensation statements to your employees as real dollars and cents so employees know their total compensation package, not just their paycheck. Furthermore, the value of BCG to our members and your employees is also evident in customer service. When a person is faced with an illness or other traumatic event you can be sure that BCG stands as an advocate. NJBankers looks forward to continuing our partnership with our members to assist them in attracting and retaining the best talent and being an employer of choice. EFFECTIVE TALENT RETENTION BEGINS WITH UNDERSTANDING THE NEEDS AND MOTIVATIONS OF EMPLOYEES. FOR MANY, COMPENSATION IS A KEY FACTOR, BUT IT IS FAR FROM THE ONLY ONE. ORGANIZATIONS THAT OFFER COMPETITIVE SALARIES, BONUSES, AND BENEFITS PACKAGES ARE MORE LIKELY TO ATTRACT AND KEEP TOP PERFORMERS. HOWEVER, NON-MONETARY FACTORS SUCH AS WORK-LIFE BALANCE, CAREER DEVELOPMENT OPPORTUNITIES, AND A POSITIVE CULTURE PLAY AN EQUALLY IMPORTANT ROLE. 6 from the njbankers president’s office
politics and policy Can we come together under the banner of freedom and democracy that Lincoln envisioned? BRITTANY WHEELER, VICE PRESIDENT/DIRECTOR OF GOVERNMENT AFFAIRS, NJBANKERS I began writing this article on November 19, knowing that by the time it reaches readers, the 161st anniversary of the Gettysburg Address will have passed. Yet, Lincoln’s message remains as relevant today as it was in 1863, especially following Veterans Day and a divisive national election. As we honor those who have served, we are reminded that the strength of our nation lies not in political victories, but in the unity of its people. In an era of polarization, we must remember that a nation “conceived in Liberty” must endure, for the United States remains the last best hope on Earth. On November 19, 1863, President Lincoln delivered his now-iconic address at the dedication of the Soldiers’ National Cemetery in Gettysburg, Pennsylvania, following one of the Civil War’s bloodiest battles. In just 272 words, Lincoln reaffirmed the American experiment: that this nation, “conceived in Liberty, and dedicated to the proposition that all men are created equal,” must endure. The Gettysburg Address was not only a tribute to those who fell at Gettysburg; it was a call to preserve the Union as a unified people, committed to a common cause. Lincoln’s famous words—“that government of the people, by the people, for the people, shall not perish from the earth”—were not merely a hope for the end of war, but a profound affirmation of democracy, liberty, and equality. In today’s America, it’s impossible not to see the relevance of Lincoln’s words. We live in a time of intense political and social divisions. We must ask ourselves: can we truly say we are “one nation, indivisible?” Can we come together under the banner of freedom and democracy that Lincoln envisioned? As we reflect on the Gettysburg Address, it’s clear that our unity is once again at risk. The recent presidential election, which exposed deep divisions in our society, is a stark reminder of how far we have drifted from the ideals of mutual respect and collective purpose. Issues like economic inequality, social norms, national borders, and even the state of our democracy echo the divisions of Lincoln’s time. Though we are not in a civil war, the rhetoric of our political leaders and the growing ideological divides in our communities create an environment where compromise is seen as weakness and consensus an afterthought. In this context, we must remember Lincoln’s warning that “a house divided against itself cannot stand.” Our nation’s survival depends on our ability to rise above party lines and work together for the common good. It’s fitting that we recently observed Veterans Day, honoring those who have sacrificed so much for this country. Veterans, whether from the Civil War or the present day, embody the spirit of sacrifice that has always been at the heart of America’s strength. Their service reminds us that the survival of this nation— and the ideals it represents—has always required a commitment to something greater than individual interests or political ideologies. This spirit of sacrifice is also evident in the work done by everyday Americans in our local communities. From local businesses to volunteers, first responders, and educators, the strength of America lies in the collective efforts of ordinary people working together. At NJBankers, we see this daily in the work our member banks do to support local economies, provide financial education, and build stronger communities. Looking ahead, the lessons of the Gettysburg Address are more urgent than ever. In the face of continued polarization, we must commit ourselves to the hard work of rebuilding trust, fostering dialogue, and finding common ground. This isn’t just the responsibility of politicians or leaders; it’s the responsibility of every citizen. The outcome of the recent election reflects our democratic process, but it also highlights the need for healing and reconciliation. We must remember that our nation’s survival depends not on the success of one party or another, but on our ability to work together toward a better future. Just as Lincoln sought to bring the nation together after the Civil War, we too must bridge our divisions and rebuild our shared purpose. In the end, the enduring strength of the United States will not be measured by political victories, but by the resilience of its people. It will be measured by our ability to come together, work toward a common cause, and ensure that “government of the people, by the people, for the people” remains a living reality. As we reflect on the 161st anniversary of the Gettysburg Address, let us embrace Lincoln’s message of unity, sacrifice, and perseverance. THE GETTYSBURG ADDRESS WAS NOT ONLY A TRIBUTE TO THOSE WHO FELL AT GETTYSBURG; IT WAS A CALL TO PRESERVE THE UNION AS A UNIFIED PEOPLE, COMMITTED TO A COMMON CAUSE. LINCOLN’S FAMOUS WORDS—“THAT GOVERNMENT OF THE PEOPLE, BY THE PEOPLE, FOR THE PEOPLE, SHALL NOT PERISH FROM THE EARTH”—WERE NOT MERELY A HOPE FOR THE END OF WAR, BUT A PROFOUND AFFIRMATION OF DEMOCRACY, LIBERTY, AND EQUALITY. 8 Politics and Policy
Creating & retaining an ENGAGED WORKFORCE CECELIA LARDIERI, SPHR, SVP, HUMAN RESOURCES DIRECTOR, PEAPACK PRIVATE BANK & TRUST ENGAGED EMPLOYEES ARE CRUCIAL FOR MAINTAINING HIGH LEVELS OF PRODUCTIVITY AND ENSURING COMPANY SUCCESS. HOWEVER, CREATING AN ENGAGED WORKFORCE IS NOT A ONE SIZE FITS ALL APPROACH. AT PEAPACK PRIVATE WE HAVE FIVE GENERATIONS OF EMPLOYEES THAT MAKE UP OUR EMPLOYEE POPULATION. WE ARE COGNIZANT THAT EACH GENERATION AND EVERY INDIVIDUAL BRINGS A UNIQUE PERSPECTIVE TO THE TABLE AND THRIVES UNDER DIFFERENT CIRCUMSTANCES. Communication is key, by engaging with your employees on a regular basis you get to know them on a more personal level, uncovering their likes and dislikes, how they prefer to work, communicate, etc. Some employees prefer to work as a team where others thrive as an individual contributor. Here at Peapack Private we encourage communication from the top down by having an open-door policy and skip level meetings. In addition, our President and CEO, Doug Kennedy, hosts an all employee call each month. This call includes a regular reminder about our mission, strategic updates, and an overview of the financial health of the organization. Employees feel engaged when they understand how the business is doing and how their role contributes to the overall success of the company. Transparency is key. Employees thrive when they feel as though their company is invested in them and their future growth. Creating access to training, on-the-job learning opportunities, mentorship programs, and a generous tuition reimbursement policy all gives employees a path to advancement and career mobility. In addition, we empower our employees. We give them the autonomy to take intelligent risks. We challenge our employees, “is this the best I can do?” Employees are encouraged to “think outside the box” and create a memorable connection while delivering a meaningful experience to every client. Encouraging teamwork, especially cross functionally, can establish new relationships and create a shared purpose. It is especially important to create heterogeneous teams (different age, culture, gender, etc.) which supports inclusion and increases creativity by engaging different perspectives. Those who prefer to be an individual contributor excel in other opportunities that do not require as much interaction. In today’s world, providing work-life balance is critical for employee engagement, especially amongst those who are falling into the “sandwich generation” and balancing the needs of their children and aging parents. Employees feel appreciated when they can manage their work responsibilities while also having adequate time for family and friends. Hybrid work schedules and generous time off and leave of absence policies all contribute to work-life balance and ultimately engaged employees. Employees perform better when they feel good. It is important to offer wellness programs, Employee Assistance programs, and a comprehensive benefits package to ensure employees can care for their physical health and their mental health as well. Celebrating the successes of our employees is key as it boosts morale and reinforces positive behavior. Although the “Golden Rule” states treat others how you would want to be treated, when it comes to reward and recognition, the “Platinum Rule” of treat others how they want to be treated is a better practice. Many employees enjoy the spotlight of public accolades where others may prefer a simple “thank you.” Again, this is where communicating with your employees is key. A motivated and engaged workforce achieves higher levels of productivity, increased client satisfaction, and reduced turnover which not only benefits the employees but benefits the company’s bottom line as well. EMPLOYEES THRIVE WHEN THEY FEEL AS THOUGH THEIR COMPANY IS INVESTED IN THEM AND THEIR FUTURE GROWTH. CREATING ACCESS TO TRAINING, ON-THE-JOB LEARNING OPPORTUNITIES, MENTORSHIP PROGRAMS AND A GENEROUS TUITION REIMBURSEMENT POLICY ALL GIVES EMPLOYEES A PATH TO ADVANCEMENT AND CAREER MOBILITY. Cecelia Lardieri Cecelia Lardieri is a Senior Vice President, Director of Human Resources at Peapack Private Bank & Trust. Working out of the Bank’s headquarters in Bedminster, NJ, Cecelia is responsible for aligning business objectives and strategy with employees and management across all business lines. 9 feature
Managing. Leading. Coaching. Mentoring. a mental model for flexible leadership CARLL WILKINSON, PRESIDENT & CEO, SMITH & WILKINSON AT SOME POINT, ALMOST ALL LEADERS REACH A POINT WHERE “WHAT GOT YOU HERE WON’T GET YOU THERE.” THE PLAYBOOK STOPS WORKING. GREAT SALESPEOPLE, CHARMING AND DRIVEN, ARE PROMOTED TO SALES LEADERS, AND STRUGGLE MANAGING OTHERS, UNABLE TO UNDERSTAND WHY EVERYONE ISN’T AS MOTIVATED AS THEY ARE. EFFECTIVE FIRST-LINE MANAGERS, WHOSE CAREFUL ATTENTION TO DETAIL, DIRECTIONS, TEACHING, AND ACCOUNTABILITY, ARE PROMOTED TO A MANAGER OF MANAGERS, AND DRIVE THEMSELVES AND EVERYONE ELSE CRAZY WITH MICROMANAGEMENT. THE INTUITIONS AND PRACTICES THAT MADE YOU SUCCESSFUL BEFORE, I.E., YOUR “HABITS OF SUCCESS,” ARE SIMPLY INSUFFICIENT IN THE NEW ROLE. Growing and improving as a leader, creating different and better outcomes, requires new thought-action sequences, and mental models can be a simple shorthand for prompting new thinking. A mental model is a framework for thinking that attempts to take a complex concept and reduce it to a simplified representation. Leadership is a large and complex cluster of human behaviors. Marshall Goldsmith says the operational definition of leadership is “working with and through others to achieve objectives,” which means that effective leadership must be situational and adaptive based on the circumstances, the people involved, and the specific objectives. 10 feature
Carll Wilkinson Carll Wilkinson is the President and CEO of Smith & Wilkinson, a talent advisory firm that specializes in Executive Search, Executive Coaching, Group Leadership Development, and CEO Succession services. I think it is useful to think of leadership behaviors as falling into four modalities: Managing, Leading, Coaching, and Mentoring. Managing is primarily focused on creating clarity. It is specific, concerned with goals, planning, organizing, training, execution, and accountability. Leading is primarily focused on creating feelings, and is a unique expression of the leader’s character, values, and integrity. Coaching is primarily focused on creating new perspectives. It is simultaneously supportive and challenging. Mentoring is primarily focused on transferring knowledge. It is unstructured, informal, personal, and relationship based. The lines between these concepts are blurry and permeable, and it isn’t important that everyone agrees on exact definitions or on which behaviors go in which modality. The key here is to use the mental model to prompt conscious and intentional leadership decisions and behaviors. Some of these skills and behaviors are relatively straightforward, others significantly more involved. There isn’t a right way and a wrong way to lead, but there are definitely more or less effective and productive approaches. As in all areas of life, mistakes and missteps are our greatest teachers, and sound judgment and wisdom are the accumulation of countless data points running through the algorithm that is our intuition. As you are preparing for a leadership conversation, run through the model with these questions: ɨ Do I need to create clarity? Are there specific tasks or objectives that haven’t been adequately defined? Do I need to provide course corrective feedback? If so, I’ll be working primarily within the Managing quadrant. ɨ Do I need to motivate this person in a new way? Do I need to transfer some of my passion and enthusiasm to them? Do I need to lend some of my strength and conviction to them? Would it be more effective to appreciate them, or to create a sense of urgency? All of these approaches fall primarily in the Leading quadrant. ɨ Am I trying to help a trusted colleague reassess an assumption or habit? Is this person conscientious and motivated, but stuck in a thinking rut? With the right series of thoughtful questions, can I encourage them to think differently? This approach would live primarily in the Coaching quadrant. ɨ And lastly, is there someone at my organization that just needs some advice? Have I held that role previously, already made mistakes I can see coming, or been through similar challenges where I wished someone had taken me aside to chat? If so, I’ll be working in a Mentoring quadrant. In conclusion, growing and improving as a leader is a lifelong endeavor, challenging but richly rewarding. Leadership is an adaptive skill, not a prescriptive skill, and there is no one way to lead, just more or less situationally effective approaches based on the people and circumstances. Make this model your own, slice and dice the concepts as you see fit, and happy trails as you continue your own leadership journey. MANAGING » Planning » Goal setting » Directing specific activities » Training of processes and procedures » Organizing and running a meeting » Providing accountability » Giving performance feedback COACHING » Active listening » Asking insightful questions » Creating powerful distinctions » Identifying limiting beliefs » Seeing hidden potential » Offering new perspectives » Challenging assumptions MENTORING » Transferring knowledge » Providing advice » Leveraging expertise » Sharing personal experiences » Modeling behavior LEADING » Inspiring and motivating » Creating strong feelings » Showing appreciation » Exhibiting courage » Showing integrity » Decision-making » Conflict resolution 11 feature
Strategies to Attract, Motivate, and Retain Young Talent in 2025 STEVE ANDRASEK, MANAGING PARTNER OF THE HARDWICK GROUP NEW JERSEY BANKS ARE FACING INCREASING CHALLENGES IN ATTRACTING AND RETAINING YOUNG PROFESSIONALS. AS THE BANKING INDUSTRY EVOLVES, SO DO THE EXPECTATIONS OF YOUNGER TALENT ENTERING THE WORKFORCE. TRADITIONALLY, INCREASING COMPENSATION HAS BEEN A PRIMARY STRATEGY FOR ATTRACTING EMPLOYEES, BUT THIS APPROACH (ALTHOUGH STILL VERY IMPORTANT) IS NO LONGER ENOUGH. YOUNGER GENERATIONS, PARTICULARLY MILLENNIALS AND GEN Z, VALUE MORE THAN JUST A PAYCHECK—THEY SEEK PURPOSE, FLEXIBILITY, PROFESSIONAL GROWTH, AND A SENSE OF BELONGING. TO MEET THESE NEEDS, BANKS MUST ADOPT A HOLISTIC APPROACH TO ATTRACT, MOTIVATE, AND RETAIN TALENT. HERE ARE SOME EFFECTIVE STRATEGIES. 1. OFFERING FLEXIBLE WORK ARRANGEMENTS The COVID-19 pandemic has reshaped work environments, making remote and hybrid models more common. Younger professionals especially value the flexibility to work from home or maintain a schedule that allows for a better work-life balance. Banks can attract and retain talent by offering hybrid options, where employees can split time between the office and remote locations. Flexibility also extends to work hours, helping accommodate diverse lifestyles and commitments. By allowing employees to manage their own time, banks show trust in their ability to balance work and personal lives, which is a strong motivator. 2. FOSTERING A STRONG COMPANY CULTURE Company culture plays a key role in employee satisfaction and retention. For younger workers, the workplace is not just a job but a place for purpose, community, and personal growth. Banks can attract young talent by fostering a culture of inclusivity, collaboration, and innovation. Creating a sense of community through team-building activities, social events, and cross-departmental projects helps employees feel valued. Encouraging open communication and regular feedback ensures they are heard. A strong company culture builds loyalty and engagement, particularly among younger employees seeking meaning in their work. 12 feature
Steve Andrasek The Hardwick Group is a New Jersey based, boutique recruitment firm that specializes in placing top talent within the banking industry. Their clients represent a variety of community, regional and global banks as well as credit unions. For over 10 years, they have specialized in filling critical positions with speed and discretion and are able to support the recruitment needs of every department within a bank’s organizational structure. They have advanced experience and knowledge of the commercial lending, credit and executive functions. Steve is the Founder and Managing Partner of The Hardwick Group. Steve Andrasek, Managing Partner of The Hardwick Group [email protected] 908-362-1601 www.hardwick-group.com 3. PRIORITIZING PROFESSIONAL DEVELOPMENT AND CAREER GROWTH Career advancement is a top priority for younger employees. They want opportunities to learn and grow. Banks can attract and retain young talent by investing in professional development programs such as mentorship opportunities, access to online courses, or certifications relevant to the banking industry. Career growth should be transparent. Clear pathways for advancement, regular performance reviews, and personalized career development plans motivate employees to stay. Rotational programs that let employees experience different roles can help them develop a broader skill set and a deeper understanding of the organization. 4. RECOGNIZING AND REWARDING CONTRIBUTIONS BEYOND MONETARY COMPENSATION Recognition is a powerful motivator for younger employees, who often seek validation for their efforts. Banks can implement recognition programs that highlight achievements, both big and small. This could include employee-of-the-month awards, shout-outs in company meetings, or thank-you notes from management. Non-monetary rewards, such as extra time off, industry conference access, or exclusive training opportunities, can be just as effective. 5. EMPHASIZING CORPORATE SOCIAL RESPONSIBILITY (CSR) Young professionals are more socially conscious and want to work for companies that align with their values. Banks can attract this demographic by participating in community service, supporting sustainability initiatives, and implementing ethical business practices. Involving employees in CSR activities—like organizing volunteer days or promoting environmentally-friendly practices—helps foster pride in the organization. When employees feel their employer is making a positive societal impact, they are more likely to stay committed to the company. 6. ENHANCING EMPLOYEE WELL-BEING AND MENTAL HEALTH SUPPORT Mental health is a growing priority, especially among younger generations who value their well-being. To retain young talent, banks must prioritize mental health by offering wellness programs, access to mental health resources, and a supportive environment where employees feel comfortable discussing their well-being. Offering perks like gym memberships, meditation sessions, or mental health days shows employees that the company cares about their overall health. 7. LEVERAGING TECHNOLOGY AND INNOVATION Younger employees are digital natives and expect their workplace to be equipped with the latest technology. Banks that invest in modern tools, automation, and digital platforms create a more efficient, engaging work environment. Embracing fintech solutions, artificial intelligence, and data analytics also attracts tech-savvy talent eager to be part of the digital transformation. Encouraging innovation by allowing employees to pitch new ideas or participate in innovation labs fosters ownership and creativity. This helps keep young professionals motivated and enables banks to remain competitive in a fast-evolving industry. CONCLUSION Attracting, motivating, and retaining young talent in the banking industry requires a multifaceted approach beyond compensation. By offering flexible work arrangements, fostering a strong company culture, prioritizing professional development, recognizing contributions, emphasizing CSR, supporting employee well-being, and leveraging technology, New Jersey banks can create an environment that aligns with the values of younger professionals. This holistic approach not only attracts talent but also builds a loyal, motivated, and engaged workforce, positioning banks for long-term success in an increasingly competitive market. ATTRACTING, MOTIVATING, AND RETAINING YOUNG TALENT IN THE BANKING INDUSTRY REQUIRES A MULTIFACETED APPROACH BEYOND COMPENSATION. BY OFFERING FLEXIBLE WORK ARRANGEMENTS, FOSTERING A STRONG COMPANY CULTURE, PRIORITIZING PROFESSIONAL DEVELOPMENT, RECOGNIZING CONTRIBUTIONS, EMPHASIZING CSR, SUPPORTING EMPLOYEE WELL-BEING, AND LEVERAGING TECHNOLOGY, NEW JERSEY BANKS CAN CREATE AN ENVIRONMENT THAT ALIGNS WITH THE VALUES OF YOUNGER PROFESSIONALS. 13 feature
A CELEBRATION TO RECOGNIZE THE FUTURE LEADERS OF THE GARDEN STATE BANKING INDUSTRY THIS YEAR 22 RISING STARS, WHO WERE NOMINATED BY THEIR ORGANIZATIONS FOR THEIR LEADERSHIP SKILLS, WERE RECOGNIZED. WINNERS WERE SELECTED BY A PANEL OF INDEPENDENT JUDGES AND FOR THE FIRST TIME RISING STAR AWARDS WERE PRESENTED TO OUR ASSOCIATE MEMBERS. Rising Star Award recipients exhibit the characteristics of true leaders and are outstanding professionals, mentors, coaches, teachers, and colleagues. Rising Stars also support both industry initiatives and their communities. RISING STAR AWARDS LEADERSHIP ATTRIBUTES INCLUDE: ɨ Qualities that demonstrate confidence, decision-making capabilities, and delegation efficiency, ɨ Making significant contributions to their organizations, ɨ A depth of influence on direct reports (where applicable) and peers, ɨ Maturity in communication skills, ɨ Self-motivation, ɨ Demonstrating social and community commitment, and ɨ Leadership qualities that will add future value to their organization and the banking industry. We would like to thank Wolf & Company, our Stellar Sponsor, for continuing their support for the Rising Star Awards. Additionally, we would like to thank our Shining Star Sponsor, Valley Bank, and all the sponsors who made this event possible. 14
WE ARE PLEASED TO ANNOUNCE THE 2024 RISING STAR AWARDS WINNERS. TONY ALMEIDA Executive Risk Officer CBIZ Borden Perlman MARGAUX HOWARD FVP, Capital Markets/ Commercial Deposits Valley Bank ROBERT MEIGHAN FVP, Learning and Development Training Lead Valley Bank STEPHANIE ENNETT AVP/Digital Banking and Product Development Manager First Commerce Bank ROBERT JACK VP, BSA Officer & Deposit Operations Century Savings Bank MATTHEW MIRETT, ESQ. Partner Sherman Atlas Sylvester & Stamelman LLP REBECCA GUERRASIO AVP Admin. Officer/Employee Development and Innovation Crest Savings Bank SAI KAILASH Product Manager, Bank Payments Cross River Bank NOAH MICHAEL O'HARE VP/Retail Operations Administrator Spencer Savings Bank MARY HELENA Internal Auditor Haven Savings Bank JONATHAN E. MAYER, ESQ. Associate Attorney Stevens & Lee, PC ANTHONY M. OSBOURNE, ESQ. Shareholder Wilentz, Goldman & Spitzer, P.A. 15 rising star awards
MELANIE PELLEGRINO Sales Support Manager Blue Foundry Bank DOUGLAS REYES Senior Investment Analyst Peapack Private Bank & Trust TASFIA SULTANA Information Security Analyst Manasquan Bank KATHERINE PEREA VP, Retail Banking Officer First Hope Bank AMANDA ROCHE VP/Finance Department Supervisor Unity Bank THERESA YOUMANS Universal Banker Supervisor Manasquan Bank MARK PROWE Treasury Operations Officer Columbia Bank BROOKE RUTKOWSKI AVP, Learning Specialist ConnectOne Bank EMMANUEL RAMIREZ FVP/Director of SEC Reporting Kearny Bank JEFF SGARRO Retail & Operations Training Manager Provident Bank CONTINUED 16
Agnes Czarnecka of ConnectOne Bank Receives 5th Annual Callas Memorial Scholarship CONGRATULATIONS TO AGNES CZARNECKA, OF CONNECTONE BANK, this year’s recipient of the Constantine G. Callas Progressive Educational & Work Ethic Memorial Scholarship. The award is presented to an NJBankers member pursuing continuing education and development in the field of banking and finance. Agnes started her banking career in 2001 and has held multiple roles during her career, including BSA Analyst, Financial Crimes Specialist, and Assistant BSA Officer. Currently, she is the AVP/AML Surveillance Team Lead at ConnectOne Bank. In 2004, Agnes graduated from Rutgers—Business School with a Bachelor of Finance degree. She is very passionate about her personal and professional growth and is currently enrolled at Cambridge College pursuing an MBA in Business Ethics & Compliance. BARRON CONSULTING GROUP Management consulting firm committed to empowering and transforming organizations through deep expertise, industry insights, a data-driven approach, and rapid value creation. Contact: Lydia Barron President/CEO [email protected] 848-444-0484 CHECK PRINTING CONTRACT CONSULTING Negotiates contracts that help our clients reduce costs and deliver a significantly higher profit stream. Contact: Jim Schartman President/Co-Founder [email protected] 216-970-0105 CONTRAL SECURITY CORPORATION Provides electronic security systems, services, and installation to the financial community in New Jersey and neighboring states. Contact: Chris O’Donnell Administration [email protected] 973-448-7402 FINASTRA Serves financial institutions, providing the broadest, deepest software applications and connectivity to marketplaces, partners and fintechs through our open platform, orchestrating the future of financial services. Contact: Chad Stephens Senior Partner Account Manager [email protected] 251-586-4147 NEACH PAYMENTS GROUP Strategic partner in payments offering audits, risk assessments, customized education and consulting services to financial institutions, business, and third-party providers. Contact: Elyssa Morgan Advisor [email protected] 781-345-7639 ROTH AUTOMATION Roth Automation provides Intelligent Process Automation services and solutions that, are configured and customized for your business specific needs and requirements. Contact: Jonathan Roth President/CEO [email protected] 201-316-7906 welcome new associate members NJBankers would like to welcome the newest Associate Members to the Association 17 rising star awards
Bankers Cooperative Group, Inc. (BCG) is the licensed insurance brokerage facility of NJBankers. Since 1982, BCG has been instrumental in providing the banking industry, plus qualifying associate members, the convenience of onesource shopping for insurance coverage needs. Whether you need employee benefit plans for your employees, directors and retirees, or specialty lines property and casualty programs to protect your institution, BCG offers flexibility and choice from multiple, highly-rated insurance carriers. Learn more at www.bcg-nj.com Matthew Cooney President/CEO 908-395-7080 ext. 101 [email protected] FinPro, Inc. is a management consulting firm specializing in providing advisory services to the financial institutions industry. FinPro’s Global Webinar Package is a multi-faceted educational program designed specifically to help add value to your institution and reduce risk, provide valuable learning, and develop strong leadership. Take advantage of this program for yourself, your board, and your bank and show that you keep abreast of industry developments and trends. Learn more at www.finpro.us Donald J. Musso President & CEO 908-234-9398 x 101 [email protected] The IFS mission is to implement innovative financing strategies and solutions that support the growth and long-term preservation of our lending partners. We provide an “outsourced” government-guaranteed lending arm for banks that may not have the loan volume or internal expertise & support staff needed to implement a sound, secure, safe, and profitable government-guaranteed loan program. Learn more at www.innovativefinancingsolutions.net Michael Ryan President/CEO 610-733-9955 [email protected] 18 Meet some of our endorsed and select providers
StrategyCorps delivers powerful consumer checking solutions to banks nationwide that differentiates them from the competition, enhances customer engagement, and increases fee income. StrategyCorps helps financial institutions better connect with consumers through modern, mobile benefits that enhance customer engagement and increase fee income. Our two solutions, CheckingScore and BaZing, ensure the best checking products in the most simple line-up. You gain top performance in terms of financial productivity and customer satisfaction with a line-up that’s easy to understand, buy, and sell. Learn more at www.strategycorps.com Paul Wholley Regional Director 615-828-1800 [email protected] WolfPAC Integrated Risk Management is a secure, web-based Enterprise Risk Management solution that automates the identification of risks, threats, and control gaps. Developed by financial and risk management professionals, WolfPAC® provides tools to review and monitor information technology, privacy, vendor, regulatory compliance, and other enterprise-wide risk assessments. WolfPAC serves as a foundational element of your risk management program and maximizes the outcome of strategic objectives. Learn more at www.wolfpacsolutions.com Michael Cohn Director 617-428-5469 [email protected] Thomas Mulligan Sales Manager 617-261-8195 [email protected] Zero-In is an agency passionate about creating exceptional retail banking digital experiences for the branch of the future. Our team provides a suite of digital media solutions for the financial services industry that allow banks to communicate with customers about products, services, rates, and community events in places like teller lines, drive-thru lanes, and waiting area lobbies. Learn more at www.zero-in.com Mitchell Goss, CPA Vice President 888-260-7291 x125 [email protected] 19 meet some of our endorsed and select providers
Kim Girardi CEO & Owner Girardi Staffing Kimberly Manfredo SVP/Director of Human Resources, Kearny Bank In the Spotlight: HR COMMITTEE Q: What strategies do you use to attract top talent in a competitive job market? MANFREDO: To attract top talent in a competitive job market, we have streamlined our recruiting process to enable us to hire qualified new employees quickly and efficiently while providing an optimal and seamless experience for candidates. We also offer competitive salaries and benefits based on current market practices. Additionally, we offer workplace flexibility where possible, focusing on outcomes and productivity. Our Employee Referral Program incentivizes current employees when their recommended candidates are hired. Finally, we encourage our employees to engage in our Mentorship Program to promote career development and professional growth within the organization. GIRARDI: Attracting top talent in a competitive market requires us to adopt strategic, innovative, and candidate-centric approaches. Below are a couple of key strategies that we use to attract the best of the best: ɨ We specialize exclusively in working with commercial banks in the tri-state area. Our deep understanding of the local market ensures we stay informed about industry trends and developments. Additionally, we maintain an extensive talent pool, giving us a strong advantage in sourcing top candidates. ɨ Girardi Staffing has an active presence on LinkedIn. We write and/or share articles pertinent to banking, recruiting, and HR. We are also active in NJBA and IBANY, which helps us increase recognition. Along with networking in the communities that we serve. ɨ We build strong candidate relationships by personalizing the recruitment experience, understanding each candidate’s goals, and providing tailored recommendations. ɨ We make it our business to maintain regular communication throughout the process, which fosters trust and shows our commitment. ɨ We work with banks known for their positive work culture and career advancement opportunities. ɨ We also make sure to share details about the company’s values, work environment, and benefits to help candidates see the potential for a long-term fit. By using these strategies, Girardi Staffing has established itself as a trusted partner for both candidates and employers, ultimately attracting and retaining top talent in a competitive job market. Q: What role does employer branding play in attracting candidates, and how should companies enhance their brand? MANFREDO: To enhance employer branding and attract quality candidates, companies should highlight their culture, values, and positive work environment. This approach can improve employee engagement, loyalty, and satisfaction, ultimately leading to higher retention rates. GIRARDI: Employer branding plays an important role in attracting candidates, encouraging them to explore employment opportunities with the firm and the financial institutions we represent. We have positioned ourselves as a trusted and desirable partner by creating a strong employer brand. We communicate our values, expertise, and commitment to matching candidates with the best opportunities, and by doing this, we have created a reputation that appeals to top talent. For us, at Girardi Staffing, employer branding highlights its deep industry knowledge, personalized approach, and success in placing candidates in roles that align with their goals. Additionally, a strong employer brand reassures candidates that they are working with an organization that values their growth, respects their aspirations, and provides meaningful career opportunities. To effectively attract top talent and position your company as an employer of choice, it’s a good idea to focus on aligning your employer branding efforts with the values and priorities of your target candidates. This begins with clearly defining and communicating your mission, vision, and values through stories, social media, and examples of how these principles guide daily operations. ɨ Highlighting employee experiences, such as testimonials and initiatives supporting work-life balance, inclusivity, and career development, further strengthens the brand. ɨ An active presence on platforms like LinkedIn and thoughtful engagement in diversity, equity, and inclusion initiatives, and corporate social responsibility programs demonstrate a commitment to a positive workplace and a societal impact. ɨ Simplifying the candidate experience with transparent communication and timely feedback is also essential. ɨ Regularly measuring and adjusting branding strategies based on feedback ensures that your company can continuously refine your efforts to resonate with top level candidates. Q: How do you identify high-potential employees within an organization? MANFREDO: Our Mentorship Program is a valuable tool to help identify high-potential employees looking to advance within the 20 In the spotlight: HR Committee
njbankers.comRkJQdWJsaXNoZXIy Nzc3ODM=