Financial services and insurance companies make up one of the world’s most important industries, contributing to more than 20% of global GDP and employing more than 8 million people domestically.
Global labor shortages of 85.2 million skilled workers are projected by 2030, resulting in lost revenue opportunities of $8.452 trillion – the combined GDP of Germany and Japan. A Korn Ferry study suggests financial and business services will likely be the most severely hit by a talent shortage, experiencing a deficit of 3 million professionals globally.
In financial services companies where 60% to 70% of employees exhibited high engagement, total shareholder return was 24.2%. In financial services companies where the percent of engaged employees fell to 49% to 60%, total shareholder return dropped to 9.1%.
Overall, 66 percent of financial services employees say they have sometimes suffered from workplace burn-out. Women seemed to feel the burn more with 74 percent saying they had been burned-out as opposed to 59 percent of men. When it came to the reasons for burning out, unreasonable workload, unreasonable performance expectations, not being fairly compensated for work, poor management, and a negative workplace culture were the leading culprits.
As one of our most successful clients, Affinity has truly made the most of our platform to create unforgettable employee engagement programs. From engaging Bingo and Scratch-off games, to captivating photo contests, and well-being initiatives, Affinity has truly left no stone unturned.
Affinity FCU came to Rewardian with the objective of driving better employee experiences through its unique company culture and strong organizational values. What’s truly remarkable is how Affinity has grown their programs within our platform. They have taken our core principles and transformed them into something unique and special, all while delivering unparalleled value to their employees.
"At Affinity, we are proud to partner with Rewardian. Their product helps us reward employees for behaviors that embrace our core values of: Passion for Service, Trustworthiness, and Accountability. Through the use of peer-to-peer recognition, the programs we've launched with Rewardian help us reinforce what we want to see more of from our employees, and has become an integral part of our culture."
Julia Hand, Assistant VP, Affinity FCU