The Cooperative Bank of Cape Cod has been named one of the “Best Banks to Work For” by American Banker magazine for the second consecutive year.
The “Best Banks to Work For” is an annual survey and awards program dedicated to identifying and recognizing the best employers and providing organizations with valuable employee feedback. The 2021 program criteria focused on how banks are managing challenges associated with hiring and retaining talent.
“Our employees are the most valuable asset we have, so to be honored again by American Banker for offering a fulfilling and rewarding workplace experience with strong growth potential is extremely gratifying,” said Lisa Oliver, Chair, President and CEO of The Cooperative Bank of Cape Cod. “I applaud our employees for persevering – and thriving – through the most challenging days and months of the pandemic. During the toughest of times, we found a way to continue meeting the financial needs of the communities we serve.”
During the COVID-19 pandemic, The Coop quickly shifted from in-person meetings to virtual options and initiated new wellness benefits to provide employees with mental well-being services and stress management programs including online fitness, meditation and nutrition courses. It also held innovative and collaborative remote meetings to successfully manage and process a large volume of Paycheck Protection Program loans to support customers and businesses in the community.
Additionally, The Coop worked with individual employees who had scheduling issues or concerns due to childcare or school closures to ensure they could balance work and family commitments. To provide open and transparent communication, Oliver started – and continues to – hold weekly virtual meetings between the CEO and all employees.
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.
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.