Industry professionals say they are confident in keeping their current role but money isn’t the driver for the one third seeking a change
Millions of workers are expected to lose their jobs in the coming year as the world economy faces a severe and uncertain period.
But within the financial services sector, there is optimism among professionals that they will keep their jobs despite the economic downturn according to a new survey.
The report from specialist banking and financial services recruiter Selby Jennings, shows that 57% of respondents globally expect to retain their current role (at least in the next six months), even though 62% expect a worsening economy over the next 12 months.
The survey asked more than 900 professionals in the industry for their expectations and intentions for the coming months.
Almost half of the professionals said that they are satisfied by their current job, while one third said they are planning to leave their current job in the next six months.
It’s not all about the money
While many sectors will be freezing pay increases and slashing bonuses to help them navigate challenging times ahead, 2 out of 5 financial services professionals say their compensation is likely or highly likely to increase.
But when asked about drivers for changing jobs, career progression rather than increased pay was cited by 70% of respondents followed closely by higher salary (64%).
Other key reasons for seeking a new opportunity include a new challenge (40%), company culture not aligned with personal values (33%), and desire for more flexible working (26%).
NEW: Job Confidence Index 2020. Access exclusive findings on what Financial Services professionals think of the economy, job security, compensation and bonus, and whether motivation factors have changed. https://t.co/0IeycNMRJD#jobconfidenceindex #financialservices
— Selby Jennings (@Selby_Jennings) June 22, 2020
