Faced with increasing turnover and competition, Centier Bank needed to find quality talent they could retain — and quickly. Find out how they did it using talent optimization.

Background

Centier Bank Case Study

INDUSTRY

Finance

EMPLOYEES

900

Centier Bank increased customer service levels while reducing turnover below the industry average. Find out how you can make your people strategy drive your business strategy with PI.

Founded in 1895, Centier Bank is a family-owned and managed financial services provider with 62 branch locations serving more than 11 counties in Indiana. The bank has more than 900 associates and $4.7 billion in assets, and is Indiana’s largest private family-owned bank. When Michael E. Schrage joined Centier as President, his vision was to build a culture focused on providing exceptional service for stakeholders and personifying Centier’s core values—integrity, respect, friendship, caring, and loyalty.

The Opportunity

When Schrage began at Centier, turnover at the bank was at an all-time high, reaching up to 20%. Compounding the retention issue, competition from nearby cities—such as Indianapolis and Chicago—made it difficult to attract and retain quality talent. It was clear to Schrage that he needed a better way to make strong job hires from the start and to develop employees for long-term productivity and retention.

The Solution

Schrage turned to The Predictive Index Hire solution to get a simple, fast method to uncover candidates’ core drives and provide insights to their needs and behaviors. His first step was to integrate the PI Behavioral Assessment™ into the hiring process, and soon each candidate in the pipeline was given an assessment prior to moving forward with interviews.

Schrage also used the PI Job Assessment tool to create Job Targets for key roles at the bank. Once a candidate completed the assessment, the hiring manager could compare the results to the Job Target and instantly spot good behavioral fits—as well as gaps between the individual and the role’s requirements. This enabled hiring managers to ask more targeted interview questions to help determine potential job fit and performance.

In order to better understand his current talent, Schrage had all existing employees complete behavioral assessments, which were then compared with the Job Targets. With this insight, managers were able to use the PI Inspire solution’s Management Strategy Guides to train and develop their direct reports for future success. After behavioral profiles were gathered for all employees, leaders met with their team members individually and collectively to discuss any conflicts or performance issues. Understanding how employees communicate and receive feedback helped leaders develop customized strategies to improve team dynamics and productivity.

 

This process was utilized not just for teams and individual contributors, but also as part of the management review process. The executive team began using PI’s data and insights to take a closer look at leadership within the organization—identifying potential future leaders and shifting roles to optimize people’s strengths.

“We use the behavioral data to promote folks and make sure that we’re moving them into the right positions,” Schrage said. “It’s a win-win for them as well as for the team.”

We use the behavioral data to promote folks and make sure that we’re moving them into the right positions. It’s a win-win for them as well as for the team.

Michael E. Schrage

President of Centier Bank

The Results

Since implementing PI as part of the hiring and employee development process, Centier Bank:

  • Was ranked in the top five on the Indiana Chamber of Commerce’s “Best Places to Work” list for six years—including a No. 1 ranking in 2010.

  • Boasts a turnover rate of 7%, which is significantly lower than both regional and state levels.
    Has associates averaging more than 10 years of service.

  • Maintains customer service levels at 96.25%—with teller and call center levels at 97% and 96%, respectively.

By optimizing their talent strategy and tapping into behavioral profiles, Centier Bank was able to achieve business results and remain one of Indiana’s premiere banks.

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Companies that struggle to build high-performing teams are often missing critical people data. With The Predictive Index and talent optimization, you can stop guessing at how to get the most from your people— and better align your people to deliver on the results you’re after.