The financial services industry is widely considered to be one of the major pillars of our economic systems. The industry's development is directly influenced by the evolution of global socio-economic systems.
With their major activities disrupted by the current market situation, companies in the financial services industry must ensure their employer brand is attractive enough to be able to retain and engage the right talent. Thus, a strong employer brand becomes an important tool for financial companies when trying to differentiate themselves from the competition.
what do financial services professionals seek in an ideal employer?
Receiving an attractive remuneration, followed by work-life balance and job security are the most important factors when a financial services professional is searching for a job.
Although receiving a good salary package remains the most important reason for choosing an employer, it is seen to be losing importance over time. Furthermore, the second most wanted attribute - work-life balance - is not perceived as being offered by financial services companies.
This large gap between what employees expect versus what is perceived to be offered leads to a lower overall industry attractiveness factor , ranking financial services seventh in the Randstad Employer Brand Research most attractive sector list on a global level.
why talk about employer branding during a pandemic?
As we publish this year’s Randstad Employer Brand Research, we are fully aware of the new situation we are in as a result of COVID-19. The timing of the questionnaire and its results were analysed before the discovery of the virus. Since then, COVID-19 has paralysed local economies and labour markets and as a result several companies find themselves facing unprecedented challenges.
In these uncertain times, employer branding is more important than ever. This year’s Randstad Employer Brand Research results can be very helpful in building on a sharpened employer branding strategy for your company.
If you’re hiring and interested to find out more about the HR solutions for Financial Services, feel free to connect with us.