Peoples State Bank has been named one of the ‘2023 Best Banks to Work For’ by American Banker magazine in partnership with Best Companies Group. Peoples is listed as number 67 among 90 banks nationwide chosen for the honor by creating positive and supportive workplaces for employees.
American Banker and Best Companies Group survey employees anonymously to gain insight into the bank’s operation and to hear how employees feel about the bank. It’s the fifth straight year that Peoples has been named to the list.
American Banker noted Peoples’ employee value proposition, which states the bank not only cares about its customers but also treats employees like family. The employee value proposition is reflective of the culture of the bank and its leadership.
“When employees know exactly what the culture is like — and they are a good match for that culture — they tend to be happier and work harder to provide our customers with a great experience,” said Scott Cattanach, Peoples State Bank president and CEO. “Likewise, as we’ve filled management positions with internal and external candidates, we look carefully at the fit to ensure success. When both your managers and employees understand the importance of our culture, it strengthens the foundation of the organization and its value to customers and our community.”
“The banks recognized on this list are trying hard to create workplaces that employees want to join,” said Chana R. Schoenberger, editor-in-chief of American Banker. “Especially during this moment when companies are experiencing a shift in how, where, and how much employees work, banks are paying attention to how they can best retain their people.”
“Peoples continuously looks for ways to promote teamwork among our employees, help them become a trusted partner for their customers, and provide flexibility to achieve their goals,” said Tina Seidl, Peoples vice president – human resources director. “This honor shows the hard work our employees and managers accomplish together and in the best interest of our customers.”
Determining the Best Banks to Work For involved a two-step process. The first was evaluating each participating bank’s workplace policies, practices, and demographics. This process was worth approximately 25% of the total evaluation. The second consisted of employee surveys aimed at assessing the experiences and attitudes of individual employees concerning their workplace. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the final ranking.
To be considered for participation, banks had to have at least 50 employees working in the U.S. and have been in business for at least one year. Best Companies Group managed the registration and survey process and analyzed the data to determine the final ranking.