The official blog of Abacus Group — a place to share our knowledge and thoughts on trends in recruiting

May 17, 2017

Employee Engagement: An Undervalued Investment for Financial Services Leaders

The results of a new survey of financial services employees are in—and the implications are clear. The industry must prioritize employee engagement and workplace culture to attract and retain talent.

The study, conducted in March and April 2017 by market research firm Morar Consulting in partnership with Kronos Incorporated and Future Workplace, engaged 800+ U.S. finance professionals at all levels across different age brackets to uncover areas for improvement among industry leadership.

Among the research project’s many findings, some are more surprising than others. As expected, compensation is significant for financial services employees—as is the case for nearly all working professionals. Close to 70 percent of contributors expressed their prioritization of salary and benefits when choosing to work for or remain with an employer. 

Most respondents identified features other than pay as characteristics of attractive workplaces. More than three-quarters of employees revealed they’re interested in more than money when job-seeking. Notable non-monetary considerations include flexible work arrangements, innovation, transparency, opportunities for career advancement, and a philanthropic mission.

While 68 percent of financial sector employees plan to remain in the industry long-term, nearly the same amount feel that the 2008 financial crisis still impacts their perception of their work environments. Financial firms have achieved remarkable progress in the last decade, but there is an opportunity to do more, specifically for their most important assets—their people.

Learn more about the study from Kronos.

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