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Rites and Rituals
A large part |
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| A large part of corporate culture that many overlook are the rites and rituals of employees. |
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Since employees are a major part of each company, in some cases they are not taken care of as they should.
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The health benefits for employees of Merchants and Marine bank are very (far) superior to any other bank. Every employee and their immediate family are covered for health and dental insurance.
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Now, a pension is an arrangement to provide people with an income when they are no longer earning a regular income from employment.
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| Summing it up, it is a periodical or lump sum income received as a retirement benefit. M & M bank provides great pension plans for all long-term employees. |
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401K’s are entitled to all employees who have worked over 1,000 hours and completed one year. A 401k is a savings plan that allows a worker to save for retirement.
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Implied assumptions are cause and effect relationships that M & M bank exerts to show that they give back to the community, as well as to uphold the company’s values from employees to the customers.
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| Raises money to save people from dying of heart disease or stroke |
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| Employees from M & M Bank go and dress up for halloween and drop candy off to sheltered children |
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| the CEO/President of M & M Bank helped create “Rebuild Jackson County.” It was started after Hurricane Katrina, and is a nonprofit organization that raises money to restore and repair the county. It is still very active today |
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| Jolly P. McCarty Memorial Golf Tournament |
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| One of the biggest annual involvements of Merchants and Marine Bank is the Jolly McCarty Memorial Golf Tournament. Jolly P. McCarty was thought to be one of Mississippi’s greatest philanthropist and business advocate |
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Jolly P. McCarty Memorial Golf Tournament (2/3)
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| He was known throughout the Gulf Coast for his generous donations of his time and energy to assist many charities and organizations to better individuals’ lives and to ensure countywide educational progress. |
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Jolly P. McCarty Memorial Golf Tournament (3/3)
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| McCarty served on numerous (in fact 17) boards of directors including Merchant and Marine Bank, serving as senior vice-president for 24 years. He was later honored as Mississippi Economic Council Man of the Year |
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The golf tournament however is a four-man scramble event that is hosted at Shell Landing Golf Course. For those who don’t know, a four-man scramble is the primary form of golf in charitable tournament play.
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In a scramble, each player tees off on each hole. The best of the tee shots is selected and all players play their second shots from that spot. The best of the second shots is determined, then all play their third shots from that spot, and so on until the ball is holed. It is a very fun and team oriented type of golf.
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The event is held in May, and raises money towards the local community. Last year, the golf tournament raised over $400,000. Many local and regional companies take part in this event by sponsoring different holes, as well as offering prizes. For example, a Ford Dealership wants to sponsor a par 3 and is offering a new car or truck to anyone who makes a hole in one.
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| Another implied assumption includes the company dress code. Men and Women who work as a teller or clerk wear company embroidered collared shirts and blouses. Men holding a higher office are required to wear coat and tie, or suits. While women wear business appropriate skirt or pant suits. |
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Most employees work a typical 40 hour work week. Merchant and Marine Bank’s store hours are from 9:00-4:00 Monday-Thursday, and from 9:00-5:00 on Friday. They are closed on weekends and major holidays. Tellers and Clerks are not given time to leave for lunch, but individually rotating around to pick up food for their co-workers, and take shifts for their lunch break. This idea is used to stop from closing around lunchtime to be more accessible to their customers.
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| Other implied assumptions |
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Other implied assumptions include: the monitoring of all emails, computer screens, and phone calls. Multiple cameras are also located throughout each bank. Every month, a safety meeting and training session is held in case of an emergency, particularly robberies.
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All in all, Merchant and Marine Bank takes care of its employees as well as giving back to the community.
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| M & M bank exemplifies first-rate rites and rituals towards their employees, which sets them apart from most community banks. Above all, three of these would include: health benefits, pensions, and 401K’s. |
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