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Topic: Culture

5 Culture Trends for Financial Services Firms in 2021

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In 2020 the world changed dramatically. As financial companies enter 2021, what workplace transformations will the new year bring? Check out our 5 Culture Trends for financial services firms in 2021 and see how you can be prepared to help your employees thrive, no matter what new challenges may come their way.

Culture Trend #1: Emerging from crisis, companies focus on culture.

 

Workplace culture is in flux. Some cultures are still adjusting to changes in how work gets done–both at the office and at home. PWC reports that before the pandemic, “only 29% of financial service firms had at least 60% of their employees working from home at least once a week. Now, 69% expect at least three-fifths of their workforce to telecommute at least once a week.” This may be a welcome change for many people; however, in an industry where security and a culture of compliance are paramount, firm leaders must examine how to maintain their desired culture—even when employees work from home.

Underlying all these changes, the fear of Covid-19 in the workplace and the continued uncertainty of how economies will perform also take a toll on culture in financial services firms. A SHRM study found two out of three companies reported keeping employee morale up to be difficult during the pandemic, and one-third said maintaining company culture was a challenge.

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