Kansas City-based Commerce Bank offers myriad benefits to take care of its employees - and for good reason.
"Commerce Bank believes that the employees are the biggest asset to our success," says Nikki Hampton, human resources manager.
Employees of the $17.7 billion regional bank are eligible to enroll in the 401(k) plan at the beginning of the quarter following 30 days of service. The bank matches between 50 percent and 100 percent of employee contributions up to the first 7 percent.
Commerce also combines age plus years of employment to provide additional matching dollars that start at 5 percent for 44 years and under and increase to 100 percent for 60+ years. The bank contributes additional matches based on company performance.
Commerce offers both health and dental insurance, paying more than half of health insurance premiums for full-time employees. The bank also pays 100 percent of life insurance and short-term disability insurance.
Vision coverage, cancer protection and long-term-care plans also are available. "Commerce cares about the health and well-being of employees by providing an employee assistance program, healthy initiative e-mails and newsletters, wellness fairs each year, free flu shots, smoking cessation programs, weight loss support, and a fitness reimbursement fee for each employee up to $100," Hampton adds.
The publicly traded bank (Nasdaq:CBSH) offers 10 paid holidays, and each staff member receives three personal days. Sick time accrues each month to a maximum of 80 hours for part-time and 200 hours for full-time employees.
New employees have vacation on a prorated basis after six months of service. After one year of service, an employee can earn between 10 and 20 vacation days and vacation time increases based on years of service for part-time and full-time staff.
Some of the bank's departments also allow employees to have flex time, which allows them to work varying hours as business permits.
In an ongoing effort to support employee development, the bank offers online and classroom training; a certified professional teller program; retail academy; management development programs; and tuition assistance, which is available to all employees.
Commerce believes in promoting from within, and uses Talent mapping, succession plans, and development training. A self-service intranet site allows employees to create individual development plans, build and manage performance reviews, track internal training transcripts, access career development training activities and benefit information. Other tools for open communication include an employee newsletter, quarterly update meetings for all staff, an employee suggestion program and new employee orientation.
As an added perk, there are Big Picture training courses in financial literacy, staff efforts are recognized through BOB awards. BOB stands for "be accessible, offer solutions, build relationships," and employees who are recognized receive gift certificates for Commerce merchandise.
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