Is trust the key to WFH in financial services?

While some financial sector bosses have welcomed remote working with open arms, others have struggled to trust their employees to work autonomously, with some even deploying surveillance to track exactly what their workforce is doing, according to new research from Culture Shift.

Related topics:  Finance News
Rozi Jones
30th October 2020
tech computer adviser business
"If companies want to attract the best in the business, then they need to adapt and take note of what employees are really looking for in a workplace."

The tech firm says this may be problematic for organisations looking to attract and retain talent as 86% of Britain’s financial workforce say having an employer that trusts them is important for their overall happiness at work.

A further 80% surveyed said autonomy is essential and working at a company with a good reputation for treating employees fairly is key for 84%, signalling some employers may need to rethink their strategies as they plan for the future.

87% of employees in financial services said good communication from their employer is vital and 83% said flexibility is an important factor to their happiness at work.

The same report also uncovered that remote working opportunities are imperative for the majority (82%) of finance employees across the UK, with more than half (56%) saying they would like to remain working from home, 53% dreading going back to the workplace and 56% are worried they won’t be able to adjust to going back. That said, one-third (33%) have felt imposter syndrome (self-doubt) more so while working from home.

85% say work-life balance and the ability to plan work around family/childcare is important. Two-thirds (66%) would like to return to the workplace with flexitime, while 77% would like to do a mix of working from the office and home.

Gemma McCall, CEO, Culture Shift, commented: “If companies want to attract the best in the business, then they need to adapt and take note of what employees are really looking for in a workplace. The pandemic has resulted in more calls for flexible working, and different ways of approaching communication and collaboration. This has also led employees to reflect on what’s most important to them – and trust ranks higher than all other factors.

“As businesses continue navigating the pandemic and conversations around the future of workplace culture take precedence, employees are hoping everything from flexibility to trust, autonomy, a competitive salary and strong ethics will be at the top of the agenda.

“These are the factors that are proving increasingly important and should be front of mind for those at the top if they want to not only attract, but retain the best talent for their organisations."

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