Over a third of financial services employees have experienced workplace bullying or discrimination

35% of those working in the financial industry have experienced bullying, harassment or discrimination in the workplace, with 38% saying a problematic culture has impacted their mental health, according to a recent study conducted by Culture Shift.

Related topics:  Finance News   |   Rozi Jones
|
18th October 2021
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"There is still a lot of work to be done considering just under half of financial sector workers wouldn’t report toxic behaviour even if it was happening at present."

35% have also experienced a reduction in their productivity due to a bad workplace culture and 30% have had to take time off due to an incident that happened at work such as bullying, harassment or sexual misconduct.

The research found that 32% of finance sector workers would not report a case of bullying if inflicted by a senior colleague due to fear of penalisation or professional repercussions.

23% wouldn’t address or raise concerns in annual company feedback surveys, but over half (51%) would be more likely to report bullying if there were anonymous systems in place to help them do so.

The data also showed that financial sector employees are more likely to report problematic behaviour closer to the time at which it occurs. 55% they would report it if it was happening now, compared to 48% who said they would report it if it happened one year ago and 40% if it had happened two years ago.

Gemma McCall, CEO of Culture Shift, commented: “The evidence has been consistently clear for a long time now; a happy and supported workforce is a productive and profitable one. But even without this consideration, we should still all be entitled to a number of basic professional assurances in the workplace - such as the right to expect colleagues to behave with respect, treat people with dignity and work and thrive in an environment of psychical and psychological safety. No one should carry the burden of someone else’s toxic behaviour when they’re just trying to earn a living.

“Companies and organisations that treat their employees fairly, actively adopt the appropriate anti-discrimination and harassment protocols, foster a truly speak up culture and work constantly to create safe and supportive environments will thrive and flourish.

“There is still a lot of work to be done considering just under half of financial sector workers wouldn’t report toxic behaviour even if it was happening at present. These figures highlight the importance of investing in ways to listen to your team all year round. I wouldn’t be surprised if the standard yearly staff survey was on its way out, as we learn more about the decreased likelihood of teams speaking out about bad behaviour after the moment has passed."

 

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