The Job Bank

Why would a bank help you find a job? Well if you think about it, it makes perfect sense.

Ohio based Fifth Third Bank found that unemployment was the cause of mortgage defaults in at least 50% of cases, and so they decided to tackle the problem head on. The bank teamed up with employment firm NextJob to offer unemployed mortgage borrowers free job search assistance, including one-on-one dedicated coaching, weekly webinars and online job search software.

A pilot scheme in 2012 for unemployed Fifth Third customers who were in serious risk of default on their mortgages, and out of work for an average of 22 months, resulted in nearly 40 percent being fully employed after just six months. Now the two companies have signed a contract to continue with an expanded version of the programme.

There’s a simple lesson here, I think. If your customers are in work and prospering, they have money in their pockets to spend with you.  Anything you can do to help your customers become more prosperous has to benefit you in the long run. Is there something you could do?