The People & Culture Platform | Culture Amp

Finance 2020

The finance benchmark represents a broad range of finance and investment focused companies. They range from more traditional finance companies (often those focused on modernizing) as well as more disruptive finance companies that might be described as 'FinTech'.

  • ~8m

    Questions answered
    in last 12 months

  • /
  • ~250

    Organizations

These insights represent ~8m questions answered from ~250 organizations, ranging in size from 30 to 18,800 people, in the last 12 months.

The data meet our criteria as being robust and reliable; unlikely to substantially change over time; and representative of the wider industry. Read more about the methodology.

Data provided by Culture Amp

Industry breakdown

  • Investment Banking

    24%

  • Financial Services

    22%

  • Insurance

    20%

  • Investment Management

    14%

  • Commercial Real Estate

    12%

  • Real Estate

    3%

  • Banking

    3%

Region breakdown

  • North America

    47%

  • Europe

    24%

  • Oceania

    21%

  • Asia

    5%

  • MEA

    1%

  • South America

    1%

Are employees committed to their organizations?

Engaged people are emotionally committed to their organization. These people stay at their organizations longer and are more productive and effective. Successful organizations have more engaged employees.

72% of Finance employees are engaged

This is in the top 30% compared with other industries.


The average eNPS score for organizations in this benchmark is 19 and is in the top 32% compared with other industries.

Understanding the engagement questions

Engagement is defined through these five industry-standard questions from Culture Amp’s engagement survey template.

I rarely think about looking for a job at another company

58%

3% above global average

I see myself still working at [Company] in two years' time

66%

3% above global average

[Company] motivates me to go beyond what I would in a similar role elsewhere

70%

1% above global average

I would recommend [Company] as a great place to work

83%

1% above global average

I am proud to work for [Company]

85%

1% below global average

The highest scoring question for Finance had 92% of People agreeing that they understand how their work contributes to [company]'s mission (+1% compared to overall) while they were generally most positive about Management.


People in Finance were generally least favourable about Action, and were most negative towards 'When it is clear that someone is not delivering in their role we do something about it' with 19% of people disagreeing (-1% below average).

Which questions matter the most?

Different things are important to different cultures. If you want to make more of your people engaged then you need to know what is important your people. These questions are most important to keeping people engaged in Finance organizations.

1

I have confidence in the leaders at [Company]

78% favorable


The factor this relates most closely to is Leadership

Which questions matter the most?

Different things are important to different cultures. If you want to make more of your people engaged then you need to know what is important your people. These questions are most important to keeping people engaged in Finance organizations.

1

I have confidence in the leaders at [Company]

78% favorable

Leadership
2

[Company] effectively directs resources (funding, people and effort) towards company goals

59% favorable

Company Performance
3

The leaders at [Company] demonstrate that people are important to the company's success

72% favorable

Leadership
4

I am happy with my current role relative to what was described to me

77% favorable

Alignment & Involvement
5

[Company] is a great company for me to make a contribution to my development

76% favorable

Learning & Development

How long do people stay?

In the short term, 19% of people in this benchmark are thinking of or actually seeking jobs elsewhere (-1% compared to overall) while on a longer time frame, 11% of people see themselves leaving within two years (-1% compared to overall).

The following questions had the biggest impact on whether individuals felt that they were planning to stay at their organization and not actively looking for alternative jobs.

1

I am happy with my current role relative to what was described to me

77% favorable

Alignment & Involvement
2

I feel like I belong at [Company]

78% favorable

Belonging
3

I understand how my work contributes to [Company]'s mission

92% favorable

Contribution to Broader Purpose
Average Glassdoor ratings

We’ve connected the employee feedback data for each company included in the benchmark with ratings from Glassdoor.com, which is one of the world’s largest job and recruiting sites combined with a growing database of company reviews, CEO approval ratings and more.

Overall Rating

3.8 stars (+0)

Culture and Values

3.8 stars (-0.1)

Work Life Balance

3.9 stars (+0.1)

Compensation and Benefits

3.6 stars (+0)

Career Opportunities

3.5 stars (+0)

Recommend to Friend

71.0% (+0)

CEO Approval

84.0% (+0)

Are staff empowered with results?

Organizations in the Finance benchmark on average gave 10% of employees access to reports with their survey results. This is below the overall average of 10% and demonstrates that organizations in this benchmark are more likely to share via offline and traditional formats.

An interesting reference point is that the average proportion of managers in organizations is 12-15%, with some industries higher than others (New Tech was closer to 20%).



  • Global average


    10%

  • Finance


    10%



  • How does Finance compare?

    People in Finance were much more positive than average regarding Fairness, Decision Making, and Opportunities & Resources.


    What are organizations focussing on?

    Below are the most common areas that organizations in Finance choose to take action on using the Culture Amp platform. Actions varied from changing or iterating on an All Hands meeting, introducing new skip level 1:1s, to introducing an organizational transparency report.

    1

    At [Company] there is open and honest two-way communication

    65% favorable

    Collaboration & Communication
    2

    I believe there are good career opportunities for me at [Company]

    63% favorable

    Learning & Development
    3

    [Company] is a great company for me to make a contribution to my development

    76% favorable

    Learning & Development

    Insights data provided by Culture Amp. For a complete overview of 2021 Insights (Culture Amp Platform benchmarks) visit the Culture Amp Support Guide.

    What makes Insights special? Gain a deeper understanding of how they work.

    Learn more about Insights with Culture Amp’s benchmarks

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