Signature Bank
Seventeen years ago, Signature Bank opened its doors when the three founders left larger institutions to focus on forming consistent relationships with their clients. Catering to privately owned businesses and their owners and managers, Signature has more than $40 billion in assets today, 30 locations in the New York metro area, and 1264 employees.
Signature serves many professional services and real estate companies, law firms, celebrities and others who followed their personal bankers from other banks to Signature.
The emphasis on knowing their clients is also what has brought a slew of experienced hires to Signature’s ranks. Through word of mouth, the bank has recruited seasoned bankers, inviting teams of them to migrate from bigger name banks.
Signature aims to show employees they are valued, and, as a result, the bank has a strong employee retention rate. Of the 135 people who joined Signature on the day it started business, 80 still work for the bank.
Specific Age Smart Policies and Practices:
Benefits: Along with a robust offering of comprehensive benefits, employees at Signature participate in a wellness program that makes them eligible for cash rewards, gifts and premium reductions in exchange for meeting certain health-related goals. Points are earned in this program for getting an annual medical exam, getting biometric readings, continuing on one’s prescribed medications, and attending wellness initiatives. Incentives to collect the points include health-related prizes such as Nutribullets and Fitbits.
Recruiting older workers: One of Signature’s co-founders is dedicated to finding teams of veteran bankers to recruit. The bank’s reputation as a preferred place to work helps them in this effort. Because of their strategy of seeking experienced relationship-oriented bankers, many of their hires are over age 50.
Team-building perks: Signature gathers all of its employees frequently for social events. Every spring and fall, a ping-pong pro coaches the staff as they pick up paddles and compete with each other, enjoying free food and drinks. There have been bowling outings, holiday parties at Planet Hollywood, and a gift of tickets to either a Broadway play or a cruise around Manhattan. One year, the bank gave every employee two tickets to see Billy Joel at Madison Square Garden. Bankers and back office workers are all eligible for bonuses, as well. These are all ways of showing the staff they are appreciated.