Employee Engagement Outlook: Financial Services
Financial and business services is one of the world’s most important sectors in terms of contribution to GDP. In 2018, finance and insurance represented 7.4 percent (or $1.5 trillion) of U.S. gross domestic product. Leadership in this large, high-growth sector translates into substantial economic activity and direct and indirect job creation in the United States.
Overall, 66 percent of financial services employees say they have sometimes suffered from workplace burn-out. Women seemed to feel the burn more with 74 percent saying they had been burned-out as opposed to 59 percent of men. When it came to the reasons for burning out, unreasonable workload (32 percent); unreasonable performance expectations (26 percent); not being fairly compensated for work (24 percent); poor management (24 percent); and a negative workplace culture (22 percent) were the leading culprits.
The workplace has become a key differentiator in the financial services industry. It’s important to focus efforts on employer branding and talent retention. Employee data presents five key areas of focus based on the results of a 2017 survey by Future Workplace, an HR advisory and research firm and Kronos Incorporated, a workforce management software and services company.
Download the guide for five ways business leaders can attract, engage, and retain talent in a hyper-competitive environment.
