Pat Summitt's Model on Talent Development

Another recruiting tool we have often used successfully, particularly for younger individuals, is a deferred compensation program designed to help pay down student loans, with vesting provisions that encourage continued employment at the bank. An example is a nonqualified deferred compensation plan...

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Bibliographic Details
Published in:Bank Director 2019-01, Vol.29 (1), p.51-51
Main Authors: Shoemaker, David, Taylor, Beth
Format: Article
Language:English
Subjects:
Athletic recruitment
Banking industry
Banks
Career development planning
Careers
Compensation plans
Deferred compensation
Leadership
Summitt, Pat
Talent management
Wages & salaries
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Summary:Another recruiting tool we have often used successfully, particularly for younger individuals, is a deferred compensation program designed to help pay down student loans, with vesting provisions that encourage continued employment at the bank. An example is a nonqualified deferred compensation plan that pays in-service distributions at the end of certain periods, such as three- or five-year time frames. An active career development program bolstered with proper financial incentives can help ensure your bank has the right leaders for the future.
ISSN:1070-7611