How we helped a regional business bank fulfill its expansion plans to overcome time-sensitive challenges and find hidden talent.
A publicly traded regional bank with $3.5 billion in assets under management was expanding into a neighboring state. They needed experienced business bankers for their new branches. The bank had attempted yet failed to fill positions at three high-profile branches, and time was limited, as they were opening in a few months.
The bank engaged @Orchard on a two-month project to specifically target active and experienced business bankers. They focused on bankers working for a select group of competitors and who were most likely to transition to the client’s model and bring quality client relationships. The client only wanted bankers from within the target market and from very specific institutions, most of whom were not actively pursuing new jobs.
@Orchard deployed our structured methodology to assess the business need and viability of the approach. We then developed our go-to-market and sourcing plan, and deployed experienced resources into the field to directly identify and solicit the very targeted audience. We managed the entire process by reporting, continuous communication, and delivering market intelligence to the client.
The @Orchard team had to develop creative approaches and make cold calls to identify the required business bankers, as they were all “passive” candidates – those not currently looking for work – with limited social media presence. Through persistence and hard work, the team was able to:
- Surface and engage with business bankers from all of the target competitors
- Provide feedback to our client regarding both the perception of their firm as well as information on the local markets they were entering
- Deliver a group of candidates that would never have surfaced through traditional “post and pray” or expensive search agency recruiting
In a two-month period, @Orchard was able to source, screen, and submit multiple passive candidates from the target competitors. This resulted in five people completing the interview process and receiving offer, with three of those individuals accepting positions, thereby achieving the project objective.
The client recognized this result would have been impossible without the high-touch efforts of the @Orchard Team, and that probably none of the people they hired would have even entered the process if not for the direct recruiting.
The client was able to launch its regional expansion strategy led by business bankers who knew the local market and who came with an established network of prospective clients. In the last quarter, the client reported record earnings with annual net income growth of 33% and loan growth of 18%.
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