Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW
Pandemic boosts financial sector's engagement

Financial services employees have never been more engaged in their roles since the global pandemic disrupted the workforce, a new study shows.

The global workplace study by ADP, a provider of human resource solutions, found that the shift from office-based work to flexible work practices has been embraced significantly by the finance sector.

After canvassing 26,600 workers across 25 countries, which included Australia, finance and technology sector workers were deemed to be the most engaged.

More than half (56%) of finance employees, working across banking, insurance, exchanges and brokerage, said they experienced between one or two more major workplace changes in the last year.

One noticeable change is the increased reliance on technology, the report read.

Many also saw their work hours change - some increased while others decreased. The fact that bosses held back promotions was a disappointment for many finance workers.

Across the globe, ADP found that employees from Israel, Netherlands, Sweden, Taiwan and South Korea are the least resilient in facing their new work environment, meaning they had low levels of psychological safety and trust in their manager's ability to lead and communicate and so forth.

Employees from India, Saudi Arabia, United Arab Emirates, Singapore, South Africa and Mexico are the most resilient workers, recording a score of 17% and above.

Australia scored 12% in terms of workplace resilience. Low-resilience workers scored 10% or less.

"Across all industries, a positive correlation between engagement and workplace resilience was identified. Of workers who are fully engaged at work, two thirds were identified as highly resilient. Additionally, the more workplace changes workers experienced, the more resilient they felt," the report found.

Read more: ADP