Workplace culture lands Independence Bank national recognition for 7th year
Independence Bank has been recognized at the national level by American Banker Magazine as a “Best Bank to Work For” in 2020. Independence Bank was listed 30th out of 85 organizations ranked across the country.
This is the seventh time Independence Bank has received the honor, an accolade that is the culmination of extensive efforts on the part of a company proven to care about their employees and work hard to create a culture that reflects that.
Employees are the second-largest shareholder of the Bank through the company’s 401(k) ESOP plan.
“We tell every new employee that they have something to add that will make our Bank better,” said Jacob Reid, President. “Feedback from all employees is encouraged — they are asked to reflect on their previous experiences and tell us what works and what doesn’t.”
When CEO Chris Reid took over the company years ago, he knew that for the revolution to be a successful one, it had to be spearheaded by people who wanted to create a great organization. With that acknowledgement came the responsibility and understanding that to recruit those people, and keep them, the Bank had to be invested in providing a workplace where they could thrive.
From there, the “5 Things Survey” was born. Employees are asked annually to provide five things they hope never change about the culture at Independence Bank, five things they wish would change and five projects they believe the Bank should take on in the future.
“This truly is a revolutionary way to approach culture and employee satisfaction,” said Nick Smith, Human Resources Director. “What this survey does is not only reveal to us the opinions of our employees, but it does so in a constructive way that allows them to express themselves while contributing to the company’s overall strategic plan. This isn’t just an empty effort on the part of management; we carefully examine these results and consider each and every one we receive. Many of them lead to policy changes, operational shifts and our focus for the next year.”
The acknowledgment from American Banker comes on the heels of a state designation last month of Independence Bank as a Best Place to Work in Kentucky for the 12th year.
“It may sound simple, but I have always believed that if you take care of your people, everything else will fall into place,” said Chris Reid, Chairman and CEO. “I tell our managers, ‘Make it fun. Let your staff know they are appreciated and do something out of your way for them.’ This advice has really molded our culture and I could not be more proud of the result. We truly are a family. We work hard, and it shows. But we play hard too, and celebrate every success.”