Almost 50% of fintech workers plan to move jobs in 2022

Many have questioned whether The Great Resignation was actually about to materialize. But a recent EY study of 17,000 employees and 1,575 employers in 22 countries and 26 industries indicates that 2022 is the year.

In the EY 2022 Work Reimagined Survey, 68% of employers say turnover has increased in the past 12 months, while 43% of employees say they are likely to leave their current employer in the next year.

Of those surveyed, the most movement is expected in the technology/hardware sector and leadership, with 58% of both respondent groups saying they expect to leave their jobs in the next 12 months. In addition, 48% of those working in finance and accounting are also likely to be “job hoppers” in the next year. But why?

Preference for hybrid working models

Acceptance and preference for remote and hybrid work is growing, while job opportunities have expanded with completely remote options. The EY report shows that a full 80% of employees want to work at least two days remotely per week, and only 20% expressed a reluctance to fully remote work, compared to 34% last year.

About 70% of those identified as “job hoppers” want to work remotely three or more days a week. However, 83% of the same group say their company needs to improve digital tools for their workforce, indicating frustrations with technologies at their current company.

Increased salary and benefits

It’s an old joke that employers like to give employees perks like ping pong, pizza and beer, rather than pay reviews and benefits, but the EY report really shows a clear gap between business and employee priorities. At a time of rapidly increasing inflation, 79% of employees place a premium on total pay and other tangible benefits.

The most important reasons why employees look for work elsewhere are the possibility of an increased total salary (35%), flexibility in when and where they can work (32%) and better career development (25%). However, employers believe that workers want to prioritize learning and skills (37%), flexible schedules or locations (35%) and investment in wellbeing (32%). All noble endeavors, but the disconnect is clear; only 18% of employers say pay increases or reviews are necessary to manage employee turnover.

Flexibility and well-being

Some 66% of tech workers and executives say the pandemic positively increased well-being at work in the EY survey; 55% of employees in financial services also agreed. This statistic is echoed in the Summer 2022 Future Forum Pulse, a survey of 10,646 knowledge workers across the US, Australia, France, Germany, Japan and the UK.

From this survey, we see that 33.2% of fully remote employees say they have a work-life balance, compared to 25.1% hybrid and only 17.1% fully in-office. About 21.7% of remote employees feel good about stress or anxiety, compared to 13.4% hybrid and 9% fully in-office.

Ultimately, 83% of employers in the EY survey agree that the pandemic has accelerated the need for comprehensive changes in rewards policies that include compensation, wellness, flexible benefits, time off and more. And many employers who agree with these progressive changes are now hiring on the Finextra Job Board, including:

Zero

Cloud-based accounting software company Xero is hiring for a range of roles externally, and across the UK, US and Australia. Roles include project, product and account managers, engineers and analysts, risk auditors and more. It’s a time of growth and excitement for the organization, which recorded operating income that grew 29% to $1.1 billion in FY22. They ended the financial year in March 2022 with 3.3 million global subscribers and 4,784 employees worldwide, an increase of 18% and 31% respectively.

In its advertised roles, Xero highlights facilitating many types of flexible working arrangements which: “allow you to balance your work, your life and your passions”. Good reward packages, including shares and a range of leave options to suit your well-being, are also cited, along with continuous improvement, career development and the latest technology. Tick, tick, tick. See more on the Finextra Job Board.

June

Juni’s financial products provide entrepreneurs and start-ups with banking tools, and are designed specifically for e-commerce, dropshippers, affiliate marketers and media buyers. The Sweden-based company recently closed a $100 million Series B funding round, valuing the company at $800 million.

Most of Juni’s available roles on the Finextra Job Board are listed as either remote or work from home, and it’s quick to point out that you can have the tool stack that works best for you. June’s perks are off the charts – an annual happiness grant of €8,500 to spend on “whatever makes you happy”, €500 a month towards a co-working space, stock options, a minimum of 30 days holiday, global health insurance and unlimited sick leave. Skip for June? Check out the Finextra Job Board to see if any roles are right for you.

Crowdcube

Crowdcube connects entrepreneurs and startups with potential investors through its online equity crowdfunding platform. The organization is now being launched across Europe and is seeking additional talent to drive its mission. Equity Fundraising Managers are in demand, as are Business Development Representatives, Senior Front End Engineers, Data Analysts and Campaign Managers.

Some roles have external options for work, while others – usually in sales – are specific location-based. Benefits include employee share options, 25 days annual holiday, 4% matched pension scheme for UK residents, private medical insurance, plus life insurance which is four times your salary. Check out the Finextra Job Board to see what roles are available.

Want to see more? See who is hiring on the Finextra Job Board, set up alerts and bookmark the link for regular check-ins.