When it comes to creating an engaging and supportive work environment for employees, the 50 largest insurance and financial services companies are doing better than most.
Ninety-five percent of the staff at Rocket companies say it’s a great place to work. Employees score well in areas including a friendly environment, adequate resources to perform tasks, and job flexibility.
Overall, 92% of employees working at companies on this year’s Best Places to Work list said, “People here are willing to pay extra to get the job done.” Meanwhile, only 55% of employees who work in a typical workplace say the same thing. The findings are based on a July 2022 Great Place To Work market research survey of nearly 4,200 full-time or part-time employees 18 years of age or older.
Great Place to Work also shared with me additional data from the survey showing that retention is an area where companies need to continually focus on:
– Financial services workers are also interested in seeing what the job market has outside, as 59% said they are ready to leave their jobs in the next six months.
Fair pay makes employees twice as likely to stay.
Purpose is the leading driver of retention in the financial services industry. If people felt their work was particularly meaningful, that retention rate would triple.
In terms of purpose, the survey found that financial services companies on the Best Places to Work list are making strides as 86% of employees feel their work is particularly meaningful compared to 51% of employees. employees in the typical financial services workplace.
“The opposite of meaningful work is to say to employees, ‘Just do it because it’s your job,’ says Bier. “Employees want to understand how what they do connects to the bigger picture of both the financial institution and the larger organization.” Meaningful work is also about “what” you do, but also “how” it gets done, she says. “If you feel like you’re part of a high-performing team, and if everyone’s supporting each other, that’s also part of meaningful work,” says Bier.
Purposeful job creation is where “big financial services firms have the most potential to set themselves apart from the typical employer,” according to Great Place to Work.
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Upcoming events: This month, Luck The CFO community will meet face-to-face at Chicago and Dallas for two in-depth dinner conversations that dive into the new leadership strategies CFOs must adopt. Finance director, Click here to apply join us in Chicago at Sepia on September 22 or Click here to apply Join us on September 29 at The Mansion Turtle Creek in Dallas. Please note that attendance is free and subject to approval. See you there!
According to S&P Global Market Intelligence data, in August, 38 US companies filed for bankruptcy, up slightly from 31 in July. So far this year, as of August 31, 249 the company has filed for bankruptcy, less than in any other comparable period since at least 2010, Report found. Industries with the most records for any sector with 41 so far in 2022.
Courtesy of S&P Global Market Intelligence
“Alexa, Should My Company Invest in Voice Technology?“A report in Harvard Business Review, discover whether companies are worth building a presence on these new platforms. “When it comes to rolling out voice assistants on Amazon Echo or Google Nest, recent research suggests the investment won’t necessarily pay off,” according to the report.
Jessica Stitt Named Chief Financial Officer at Sonoma Biotherapeutics, Inc., a clinical stage biotechnology company. Stitt has more than 20 years of experience in healthcare finance, strategy and leadership and has been involved in nearly $2 billion in corporate funding deals, according to the company. Prior to joining Sonoma Biotherapeutics, Stitt was CFO at Gyroscope Therapeutics, which was acquired by Novartis. Previously, she served as Vice President of Finance and Operations for MyoKardia, Inc., which was acquired by Bristol Myers Squibb. And before that, she served as Vice President of Finance and Investor Relations for Theravance Biopharma, Inc. Stitt has previously held finance roles at Nektar Therapeutics, Alkermes and Blue Cross Blue Shield of Massachusetts.
Michael Lawless Named Chief Financial Officer at ReWalk Robotics Ltd. (Nasdaq: RWLK), a manufacturer of robotic medical technology for people with lower extremities, effective September 19. Lawless brings over 20 years of leading experience in finance and relationship operations. Investors. Lawless most recently served as CFO advisor to Danforth Advisors, LLC. Prior to joining Danforth Advisors, he was the Chief Financial Officer of Brooks Life Sciences. Lawless also served as head of financial planning and analysis for Brooks Automation and PerkinElmer, Inc.
“Only through concerted efforts to further accelerate the uptake of vaccines can we gain more time to resume international travel to the greatest extent, stabilize the economy and kick-start the engine of growth.”
—Hong Kong finance secretary Paul Chan wrote in a blog post about what it will take to fully reopen to the outside world, as reported by Bloomberg.
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