Pursuing a career in finance? Here is Fortune’s list of the best places to work

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.

I recently spoke with Jessica L. Bier, the U.S. human capital transformation leader at Deloitte companyAbout provide financial purpose.

“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.

See you tomorrow.

Sheryl Estrada

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!

Big deal

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

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