Best Places to Work Honoree 2022
Organization Name: Cape Cod 5
Cape Cod 5 is a purpose-built and purpose-driven organization that has undertaken its mission of serving customers, employees, and members of the community for over 167 years. Underpinned by our values, we continue to adopt a “One Bank” approach (working cross-functionally together as one team to serve our customers) while responding to the most immediate needs of those we serve. We are a learning organization focused on respect and transparency through clear communications and collaboration across the Bank in service to others and to our mission of Enriching Lives. We are committed to supporting the physical, emotional, and intellectual well-being of all employees so that they may bring their best authentic selves to everything they do. This includes open and continuous communication with employees through our intranet, weekly virtual Town Hall Meetings, and our “Loop Report” portal for ongoing employee input and feedback. We also maintain a robust employee wellness program, which includes an array of benefits: access to a wellness consultant, and fitness and wellness classes through our corporate wellness partnership both virtually and at the fitness center at our headquarters, “HQ5.” Employees also have 24/7 access to our Employee Assistance Program.
Cape Cod 5’s community commitment – which we incorporate into each of our business practices – continues to be a leading contributor to our employees’ workplace satisfaction. This includes employees contributing directly to our community banking, responsible business practices, corporate leadership & volunteerism, financial know-how, and philanthropy.
A recent example of how we foster a culture of learning and support for each other is in our start of Hybrid Work for remote employees. While many of our employees have been working onsite at our Banking Centers or HQ5 throughout the last two years, a large number of employees have been entirely remote. As we prepared to bring people back onsite at least one day a week and recognize that some employees may feel anxious about the change, we held several Q&A sessions so that employees had ample opportunity to ask questions to feel more comfortable in their return. Part of the messaging for employees included that we will be learning together about things like conducting Hybrid meetings, sharing space with others, and reconnecting in person while continuing to support and encourage work/life balance for all employees.
Throughout the pandemic, Cape Cod 5’s Executive Management team met daily to discuss and adapt based on national, state, and local health and safety guidance, and to address the impact of the pandemic on employees, customers, and communities. Management worked around the clock to ensure that employees collectively and individually were supported through their roles at the Bank and their own unique circumstances and life commitments. Offering pandemic pay, flexible work schedules, a temporary change in the role if needed, and additional wellness and mental health resources were some of the ways that management helped employees and their families through these difficult two years.
As an example, recognizing that Retail employees have been working onsite in our Banking Centers each and every day throughout the pandemic, Executive Management initiated an additional Hazard Pay of $2 per hour for all employees working onsite. After a year as Hazard Pay, management adopted this as a permanent increase for those employees to recognize their significant contributions and service to our customers.
We are privileged to serve our customers on Cape Cod, the Islands, and in Southeastern Massachusetts and are dedicated to supporting the economic strength, financial wellness, vibrancy, and inclusivity of our communities through everything we do as corporate citizens and top local employers. We demonstrate our community engagement through our Five Ways – Community Banking, Responsible Business Practices, Corporate Leadership and Volunteerism, Advancement of Financial Know-How, and Philanthropy – and focus our efforts on five areas: Accessible Housing, Education and Enrichment, Environmental Stewardship, Economic Sustainability, and Community Health, Human Need & Active Service Members’ / Veterans’ Needs. Working with leaders across the region, we devote dedicated time to understanding the most immediate needs of the communities we serve, so that we can pool our resources and direct our efforts to where we can make the greatest impact. Overall, our annual community support exceeds $1 million each year, through the Bank and its Foundation. In addition, we amplify the efforts of our employees through several ways, including matching their philanthropic giving up to $500 per employee each year, offering two days of Volunteer Time Off, and one day of paid time for civic engagement.
As cross-cutting goals of the institution, Cape Cod 5 continues to further our commitment to Diversity, Equity, and Inclusion (DEI) and Environmental Stewardship. We have embedded these two objectives into each Bank-wide strategy and action. We have conducted listening sessions about DEI with employees and maintain an ongoing peer Mentoring Circle that focuses on learning about this important topic. We are also dedicated to serving as thoughtful stewards of our environment. Examples of recent Environmental Stewardship efforts include our work to provide sustainable products and services across the region (including our solar loan program and facilitation of Mass Save HEAT loans) and our advocacy of the good work of our community partners in this important area through our corporate leadership with and endorsement of environmentally-focused organizations and initiatives. We have introduced multiple, environmentally-friendly integrations into Cape Cod 5 facilities, including our headquarters, HQ5, which was built to and has achieved LEED Gold Standards. Over the past year, we also introduced a new employee incentive program, which is designed to encourage the green efforts of our employees by providing financial assistance towards the purchase or lease of an electric or plug-in hybrid vehicle, bike, or scooter.
