Over half of FS workers plan to change jobs in the next year

More than half of financial services employees in the UK expect to actively look for jobs outside of their current company in the next 12 months, according to new research.

A study commissioned by analytics company Visier found that nearly a quarter of people working in the industry are already looking for new jobs.

The report surveyed 1,000 UK employees of financial services companies and 250 HR British employees working in the sector last month.

Of employees actively considering changing jobs, 62 per cent say they are considering moving into a new sector or career altogether.

The majority of UK financial services workers, around 77 per cent, said that they felt well supported by their employer over the past year. A further 72 per cent said they would recommend their company as a place to work.

But the major reasons why employees were seeking a new role are poor work/life balance (43 per cent), salary (33 percent), feeling unvalued (25 percent) and not being encouraged to learn new skills (19 percent).

“An employee's work life balance and salary has always been a driving factor for moments of change in jobs and careers,” said Daniel Mason, vice president EMEA of Visier. “However, we are increasingly seeing the consequence that a lack of skills training is having on an individual's career and we are not surprised to see that many are concerned about the impact it will have for future employment and personal growth."

Mason added: “As financial services businesses go through yet more upheaval to the ways they are used to working, they need to be conscious of other factors that can impact the retention rate of their employees, and in addressing the skills gap head-on to drive digital transformation.”

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