Are rewards programmes in financial services finally moving beyond pay?

Mercer’s Global Financial Services Executive Compensation Snapshot Survey has found most financial services companies globally have made or are making changes to their employee value proposition (EVP) beyond pay, in order to attract talent who might otherwise choose not to work for them.

The most prevalent initiatives planned, or already in place, are:

1. Learning and development programmes (47%)
2. Remote working programmes (43%)
3. Implementing career frameworks (37%)
4. Introducing flexible working (37%)
5. Non-monetary recognition programmes (34%).

However, more than 90% of organisations are not planning on changing their organised community service time-off or activities, vacation/sabbatical leave, and charitable contributions policies.

The survey was completed by 68 financial services organisations, of which 21% were based iin growth markets i.e. Asia and South America.

 

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