5 Insights on Financial Services Professionals to Inform Your Talent Strategy [Survey Results]
As digital transformation and a volatile labor market shake the financial services industry, how have you adapted your talent strategy to meet the moment?
Employees are more focused than ever on career growth — and they’ll pursue the companies most likely to offer it.
Our recent survey found that financial services professionals have generally been more likely to demonstrate an interest in developing their skills and advancing their careers. But in 2020, less than 25% of BCM organizations had reported significant progress in defining the skills needed to drive future growth, according to a PwC survey.
In this labor market, employers need competitive benefits to retain, attract, and develop top talent. They also need to make the connection between education and career pathways to fill talent pipelines for the jobs of tomorrow.
Fortunately, investing more in education and career growth is a win-win. Employees get what they want out of their careers — and they’re more likely to stay and grow at your company. A financial services leader who moved from tuition reimbursement to tuition-free education benefits saw a 2.7x program adoption increase, 40% higher retention rates for program participants, and an average of $2.72 in savings for every dollar invested in their education programs.
To better inform your talent strategy, let’s take a look at recent survey data* on financial services employees and their perceptions on education and career growth.
*Methodology: Guild sent a survey to 1,323 individuals across industries using an online research panel aggregator in March, 2022, resulting in 819 qualified respondents. Of this sample, we looked at a segment of 236 working adults in the financial industry (n=81) or interested in entering the financial industry (n=180).