UMB Bank employs 40 local full- and part-time employees. The bank’s benefits package includes a 401(k) plan for which there is no waiting period to participate. The company pays a portion of all employees’ health insurance premiums. Other benefits include profit sharing and the opportunity to gain stock options. UMB Bank offers domestic partner benefits, tuition reimbursement for work-related education and an employee mentoring program. The company’s top management meets regularly with employees, and UMB also conducts employee satisfaction surveys to gather feedback from staff members.
How does your company foster employee loyalty?“UMB is committed to creating the unparalleled customer experience, and that extends to our associate experience as well. Our dynamic corporate culture, investment in associate development, comprehensive benefits package and paid volunteer time off help create (a unique) associate experience … . It’s not unusual for an associate to come back to UMB after leaving because of the positive associate experience they’ve had here.”
Tell us about your firm’s team-building activities or events. “We have a regular monthly gathering for all local associates … where we celebrate successes, recognize associate milestones and events, bring in outside speakers on a wide range of topics and even play games together. It’s a nice way to blend the business and personal connections we all share and to get to know each other better. We also participate and volunteer in local community events, such as the recent Drury Panther Run to benefit Care to Learn and the Missouri Mission of Mercy event sponsored by area dentists.”
How does your business support work-life balance for employees?“We replaced our previous vacation and sick accounts with a very generous paid time off program. We also initiated a volunteer time off program to support employee community interests and corporate commitment to community involvement. Finally, we established new adoption assistance and paid parental leave programs (for) maternity and paternity leave.”
What makes your company’s benefits offering stand out in the market?“UMB has chosen to absorb premium increases this year rather than passing the cost along to our associates. This is especially important in the current climate when more companies are reducing the employer-paid portion of their premiums. We also offer a wide range of benefits including … paid holidays and health savings accounts. … Another benefit is the 401(k) 6 percent match. In these economic times, that’s pretty special. … Our insurance offerings include medical, dental, vision, company-paid short-term disability and long-term disability, cancer, accident, critical illness, long-term care and even pet insurance. If associates choose to participate in our wellness program, they reduce their monthly premiums by up to $50.”
How does your company support employees’ desires to give back to the community?“UMB’s volunteer time off program allows all associates up to two days each year with pay to volunteer at community events sponsored by local nonprofit organizations. This allows them to give more time to causes about which they are passionate. … UMB often has company matches for individual financial contributions.”
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