First Federal Customer Case Study Flyer 12-9 by whq15269

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									 Customer Case Study




Customer Profile
First Federal Bank has been
committed to the communities                   Customer Challenge and Solution
it serves since its founding in   With over 130 different job titles spread across 20 full service
Harrison, Arkansas in 1934.       locations in 12 cities, First Federal Bank needed an employee
The bank now serves 12            compensation framework that would improve their profitability while
cities in north central and       allowing them to recruit and retain great employees.
northwest Arkansas with 20
full service locations, one       The Job Evaluation and Salary Administration Program
stand-alone loan production       (DBCompensation™) was chosen to put a consistent
office and 31 ATMs.               compensation management system into place and solve a number
                                  of other employee-related challenges.
Business Situation                _____________________________________________________
In 2003, First Federal Bank
had limited formal job            “Not only did DBCompensation™ provide us with significant
descriptions, operated in         short-term and long-term savings, we are now confident that
multiple pay markets and was      our compensation program is fair, competitive, and legally
looking for an objective          defensible.”
compensation framework that                                     Larry Brandt, Chairman and CEO
would value jobs across the                                                    First Federal Bank
organization and seamlessly
                                  “I credit DBCompensation™ as a major factor in allowing us
integrate multiple market
                                  to maintain most of our loan staff. We’ve lost relatively
compensation values.
                                  few compared to other banks.”
Solution                                                     Tom Richardson, President and COO
                                                                                 First Federal Bank
The Johanson Group, using
the DBCompensation™ system,       “The DBCompensation™ process has helped take the
developed 134 electronic job      guesswork out of comparing jobs that are similar in nature
descriptions and simplified the   and has provided a consistent method to rate jobs internally
pay structure for the entire      while providing a good tool to ensure that pay rates stay
bank into a single program        competitive.”
with one pay line for                            Stacy Flower, Vice President of Human Resources
Northwest Arkansas. The pay                                                      First Federal Bank
line is being used as the basis
for the other two more rural
markets where the bank
operates.
Benefits                                          DBCompensation™ is a product of:

• Greater ROI on
compensation dollars
• Assurance of competitive
pay rates
• Improved employee
retention and morale
• Consistent and defensible                              www.dbsquared.biz
compensation system                                       (479) 587-0151

								
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