The trend: Despite some banks’ efforts to get staff back into the office, just 20% of US financial services companies require fully on site work, according to hybrid working specialist Scoop.
Hybrid work’s here to stay: Scoop’s Q1 2023 Flex Report collected data on more than 4,000 companies in the US between October 2022 and February 2023. The research found:
Banks can benefit from flexible working: The working arrangements that companies offer have a massive impact on staff well-being, productivity, employee retention, recruitment, and the use of technology. Unsurprisingly, there are big differences between fintechs and banks in the flexibility they offer to workers. That could create significant recruitment opportunities for firms able to lure workers with more flexible working arrangements.
This article originally appeared in Insider Intelligence’s Banking Innovation Briefing—a daily recap of top stories reshaping the banking industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.
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