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3 reasons why capital markets firms should rethink employee experience

  • Posted on January 19, 2022
  • Estimated reading time 2 minutes

Where are you reading this article? You might be sat in your kitchen, study, or (if you’re lucky) a deluxe garden room. Or perhaps you’re in your organization’s office building at your desk. Where you are very much depends on your employer’s stance on hybrid working.

Within Capital Markets, the response to hybrid working has been mixed. Some are offering their staff permanent remote working options; others are looking to get their employees back into the office.

Employees and employers are out of sync
Research from Accenture reveals that 80% of senior executives in North American financial services organizations want their employees in the office at least four days a week. By way of comparison, Accenture’s UK-based research suggests that one in four (24%) financial services employees want to work from home permanently and over two-thirds (69%) prefer to work just two days a week or less in the office. The appetite for a return to 100% in-office working is low.

The pandemic changed the rules of the game
During the pandemic, employees everywhere revaluated their priorities. Employees valued being at home and having more flexibility than before. If their employer’s ‘return to work’ plan doesn’t meet those needs, then they are much more likely to move on – which has been termed ‘The Great Resignation’ or ‘The Great Reshuffle’.

According to the Hybrid Work Index, having the option to work remotely instead of coming into the office could be a key deciding factor for almost two-thirds (64%) of employees as to whether they stay in their job or not. Salary increases are no longer enough to find and retain talent.

Capital markets firms are not immune
Although Capital Markets firms are performing well – with assets under management (AuM) at the end of 2020 increasing globally by 11% to $103 trillion – employee experience is suffering.

Working from home during the pandemic blurred the lines between personal and business life, impacting physical and mental wellness. Employees, far from slacking off while at home, are working longer hours. It seems that always working from home, ironically, means that many employees are always at work. But going back to the office five days a week isn’t the antidote. Employee expectations have been reshaped by the pandemic. Flexibility is the watchword and hybrid work is the “now”.

In my next post, I will explore the reasons to be cheerful about hybrid working in capital markets firms and the benefits beyond employee experience.

Find out more about our holistic approach to Workplace Experience and read our guide for how financial services organizations can solve their top challenges, including hybrid working.

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