Three New Jersey banks — Peapack-Gladstone, Manasquan and Lakeland — were listed among the Best Banks to Work For in the country by American Banker, which released its list Tuesday.
American Banker, which partners with Best Companies Group to identify banks that excel at creating positive and supportive workplaces for employees, listed 90 honorees this year.
Here’s how the N.J. banks ranked:
No. 33: Peapack-Gladstone Bank (Bedminster);
No. 42: Manasquan Bank (Wall Township);
No. 76: Lakeland Bank (Oak Ridge).
American Banker Editor Chana Schoenberger said the selections were based on an anonymous employee survey and a thorough review of the benefits and perks offered. The survey and awards program is designed to identify and honor banks with the best cultures for helping employees thrive.
“The banks recognized on this list are trying hard to create workplaces that employees want to join,” Schoenberger said. “Especially during this moment when companies are experiencing a shift in how, where and how much employees work, banks are paying attention to how they can best retain their people.”
Determining the Best Banks to Work For involved a two-step process.
The first consisted of evaluating each participating bank’s workplace policies, practices and demographics. This part of the process was worth approximately 25% of the total evaluation.
The second consisted of employee surveys aimed at assessing the experiences and attitudes of individual employees with respect to their workplace. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the final ranking.
To be considered for participation, banks had to have at least 50 employees working in the U.S. and been in business for a minimum of one year. Best Companies Group managed the registration and survey process and also analyzed the data to determine the final ranking.
Lakeland Bank CEO Thomas Shara said the bank was thrilled to be honored.
“I am so proud of this distinguished recognition and thrilled to share it with our amazing associates who make Lakeland a premier bank and continue to go above and beyond to serve our customers every day,” he said.
