YOUR BUSINESS AUTHORITY
Springfield, MO
“What (employees) do towards customer service (affects) them,” said Jeff Jones, president of CBT.
The bank, which has been in business since 1884, began offering the ownership option to employees in 1988. Every year, employees are given the opportunity to purchase company stock through contributions made throughout the year.
The bank has 14 branches in Missouri and Kansas, and approximately 50 percent of CBT is employee-owned.
CBT also contributes 1 percent to 9 percent annually to a 401(k) plan after employees have been on the job for one year. “We try to take care of our own,” Jones said.
He said the company is generous to its employees, especially in paid time off.
Full-time employees can immediately enjoy more than five personal days per year, with more than 10 vacation days and more than nine days of sick leave.
Monetarily speaking, CBT reports average annual bonuses of more than $1,000, with annual average salary increases between 4 percent and 6 percent.
Full-time employees pay 10 percent to 30 percent of their health insurance premiums.
CBT also offers life insurance to full-time employees, and the company pays the premiums.
CBT scored well in the family-friendly category, offering six weeks of paid maternity leave and the option of flex time to parents.
Professional development also seems to be a priority for the bank, which provides some tuition reimbursement and has an employee mentoring program.
“We want to develop employees to take the next step,” said Candy Shelly, director of human resources.
CBT reports in its survey that between 30 percent and 49 percent of their managers were promoted from within, and that less than 5 percent of employees left the company of their own initiative in 2005.
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