Arvest Bank employee Trish Meier knows open communication with customers and keeping employees happy can create smoother company operations.
And that's a lesson she learned by watching Arvest Chairman of the Board Jim Walton - son of Wal-Mart stores founder Sam Walton - in action.
"The first time I met (him), he walked out into the lobby of the bank and starting talking to the customer, asking what we did well and what we could improve on," Meier says. "I have never worked for a company where the upper management was so involved within the bank as well as with the customers."
Arkansas-based Arvest bank operates more than 200 branches in markets in southern Missouri, southeast Kansas, Oklahoma and Arkansas - each with their own management teams, presidents and boards of directors. Arvest opened its Branson branch in 2006 and the first Springfield branch in 2007.
"Arvest is very focused on taking care of both our customers and our associates," says Penny Lacy, senior vice president of human resources. "In fact, our mission statement is 'people helping people find financial solutions for life.'"
A focus is placed on customer service, and co-workers nominate one another for the associate of the quarter award based on excellent sales or service, and winners receive a $100 gift card.
Arvest pays 69 percent of health and dental coverage and offers employees free flu shots. Associates who take health risk assessments also receive $25 for their medical accounts.
Employees can participate in the bank's 401(k) plan after six months of service. The bank matches 100 percent of contributions up to 3 percent, and 50 percent on the next 2 percent, Lacy says, noting that employees are immediately vested in the 401(k) plan.
There's also a profit-sharing retirement plan, in which all employees participate after a year of service. The bank contributes 6 percent of an associate's pay each year, and employees are fully vested in the profit-sharing plan after six years. As an added bonus, the bank carries life insurance valued at two times each associate's salary.
The bank pays employees for six holidays. Full-time associates accrue 20 days of paid time off a year, and after seven years of service, they can earn up to 25 days.
The bank awards "Arvest bucks" to community-service-minded employees for volunteer efforts, and those can be used to purchase Arvest merchandise.
There also are opportunities for employees to socialize, including an annual holiday party and at sales and service rallies .
"The best thing about being an Arvest associate is that you work for a company that truly cares for its associates," says Erin Ward, financial sales representative. "You can't say that about very many places, but with Arvest, they care about you professionally and personally." [[In-content Ad]]* Tie broken by essay
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