The People & Culture Platform | Culture Amp

Financial Services (North America) 2020

The financial services benchmark represents a range of financial services companies from more traditional, large financial services firms to small, regional organizations. Please note that the companies in this benchmark make up a subset of the broader Finance Benchmark which includes all Financial institutions.

  • Emerging

    Benchmark status

We consider this an emerging benchmark: it has enough data available for us to use bootstrapping to create a representative sample. As the sample grows in size, some scores may slightly change. Our research has shown that our bootstrapped scores are consistent with our standard benchmarks. Read more about the methodology.

Data provided by Culture Amp

Industry breakdown

  • Financial Services

    100%

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.

73% of Financial Services (North America) employees are engaged

This is in the top 37% compared with the overall average.


The average eNPS score for organizations in this benchmark is 16 and is in the bottom 44% 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.

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

74%

5% above global average

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

65%

2% above global average

I rarely think about looking for a job at another company

57%

2% above global average

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

84%

2% above global average

I am proud to work for [Company]

83%

3% below global average

The highest scoring question for Financial Services North America had 91% of People agreeing that they know how their work contributes to the goals of [company] (+2% compared to overall) while they were generally most positive about Work & Life Blend.


People in Financial Services North America were generally least favourable about Company Performance, and were most negative towards 'When it is clear that someone is not delivering in their role we do something about it' with 18% of people disagreeing (-2% below average).

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 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

78% favorable

Learning & Development
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

4.0 stars (+0.2)

Culture and Values

4.3 stars (+0.4)

Work Life Balance

4.1 stars (+0.3)

Compensation and Benefits

3.9 stars (+0.3)

Career Opportunities

3.8 stars (+0.2)

Recommend to Friend

79.0% (+8)

CEO Approval

82.0% (-2)

Are staff empowered with results?

Organizations in the Financial Services (North America) benchmark on average gave 9% 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%

  • Financial Services (North America)


    9%



  • How does Financial Services (North America) compare?

    People in Financial Services North America were much more positive than average regarding Action, Feedback & Recognition, and Service & Quality Focus.


    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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