Banks today can’t afford to look back at the pay programs and talent needs of the past. Future success and growth will require a more strategic approach to compensation, leadership development, and board succession.
The Bank Compensation and Talent Conference, held in Dallas, brought together a series of senior executives to focus on how developing and retaining leadership talent is critical to banks’ future success. Leading advisers and experienced board members shared their perspectives on building and supporting the best teams by providing firsthand information on the strategies and plans being used by successful banks today.
Sharing the stage to discuss such strategies with two senior HR practitioners was Annabel Fan, Global Head of Financial Services at beqom. The panel discussed best practices for leadership development and compensation planning to support execution of business strategies.
Annabel noted that developing trends in HR technology, are becoming central to a bank’s transformation. HR is a strategic business partner to the business, and compensation, in particular, is at the heart of pay-for-performance and succession planning initiatives.
Creating the right structure of compensation plans and sales incentive programs can significantly streamline operational efficiency while lowering costs. The right solution will provide a valuable tool to understand how to attract and retain top talent, enabling banks to drive the innovation of their business strategy without compromise.
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