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Finance (Australia) 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'.

  • ~1.2m

    Questions answered
    in last 12 months

  • /
  • ~70

    Organizations

These insights represent ~1.2m questions answered from ~70 organizations, ranging in size from 20 to 1,800 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

    23%

  • Insurance

    21%

  • Commercial Real Estate

    10%

  • Investment Management

    10%

  • Banking

    6%

  • Real Estate

    4%

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.

71% of Finance (Australia) employees are engaged

This is in the top 49% compared with the overall average.


The average eNPS score for organizations in this benchmark is 14 and is in the bottom 30% compared with the overall average.

Understanding the engagement questions

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

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

68%

5% above global average

I rarely think about looking for a job at another company

56%

1% above global average

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

68%

1% below global average

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

81%

1% below global average

I am proud to work for [Company]

84%

2% below global average

The highest scoring question for Finance Australia had 88% of People agreeing that they know how their work contributes to the goals of [company] (-1% compared to overall) while they were generally most positive about Management.


People in Finance Australia 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 20% of people disagreeing (+0% above 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 (Australia) organizations.

1

I feel like I belong at [Company]

78% favorable


The factor this relates most closely to is Belonging

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 (Australia) organizations.

1

I feel like I belong at [Company]

78% favorable

Belonging
2

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

72% favorable

Learning & Development
3

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

56% favorable

Company Performance
4

I have confidence in the leaders at [Company]

76% favorable

Leadership
5

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

77% favorable

Alignment & Involvement

How long do people stay?

In the short term, 22% of people in this benchmark are thinking of or actually seeking jobs elsewhere (+2% 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 feel like I belong at [Company]

78% favorable

Belonging
2

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

77% favorable

Alignment & Involvement
3

I believe my total compensation (base salary+any bonuses+benefits+equity) is fair, relative to similar roles at other companies

48% favorable

Alignment & Involvement
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

3.3 stars (-0.5)

Culture and Values

3.3 stars (-0.6)

Work Life Balance

3.8 stars (+0)

Compensation and Benefits

3.2 stars (-0.4)

Career Opportunities

3.1 stars (-0.4)

Recommend to Friend

57.0% (-14)

CEO Approval

78.0% (-6)

Are staff empowered with results?

Organizations in the Finance (Australia) benchmark on average gave 8% 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 (Australia)


    8%



  • How does Finance (Australia) compare?

    People in Finance Australia were much more positive than average regarding Action and Decision Making.


    On the lower side, People in Finance Australia had much lower favorable scores than average in Fairness and Voice.

    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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