Flexible working becoming a priority for financial services firms

A study from Hydrogen and My Family Care has shown that businesses in the financial services sector are prioritising flexible working.

The research looked at the needs, wants and challenges of employers and employees across a range of industries, including banking and finance, and found that more than 80% of people look for flexible working options before committing to a company.

Important

The research also showed that more than 50% of employees believe that flexible working opportunities are more important than a 5% pay rise.

The study comes after research from Working Families found that just 17% of professionals working in finance and accounting work flexibly at least once a week, which is lower than the UK average.

Despite this low figure, firms in the financial services sector are taking steps to offer more flexible working options. For instance, Lloyds Bank, the Royal Bank of Scotland, and Big Four firms EY and Deloitte are among the top ten businesses for flexible working and work-life balance.

Motivator

With these studies highlighting the importance and demand for flexible working, financial services firms should focus on using flexible working to remove the culture of presenteeism and put competitive policies in place to retain workers and boost diversity in the workplace.

Research from HSBC showed that flexible working is also a key motivator for employees, with 89% believing that it helps to boost productivity.