2. 2
C O NTENTS
03 18
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Financial and Insurance Services:
What workers want
Professional development: An important
point of differentiation among employers
Did you know?
A smooth application process:
Regular, consistent communication is valued
In Financial and Insurance Services:
It’s all about employer performance
The online talent community: Outside
connections lead to inside relationships
Financial and Insurance Services
talent: A snapshot
A cutting-edge work environment: The most
current practices and technology attract top
Financial and Insurance Services players
Kelly insight: There are six ways to give Financial
and Insurance Services workers what they want
Structured on-boarding:
The first 90 days make a difference
Career roadmaps: A green light in Financial and
Insurance Services employee satisfaction
Multiple channels to access job information:
Financial and Insurance Services workers
use most channels actively
Competitive compensation: Still first in attraction but
work–life balance and advancement can be dealmakers
3. candidates to connect with
the company, but develop
personalization features to
keep candidates engaged
and to differentiate your
company from others.
2. The channels for engaging
active and passive job seekers.
Workers peruse general online job
boards and company websites for
primary information about open
positions. More of them are using
social media and online talent
communities—not just automated
job listings—to monitor
companies and opportunities,
and to decide whether to
pursue employment. They want
comprehensive information
about compensation and
benefits, yet they also want
to understand the company’s
work environment—from
philosophy through to training.
Understanding the talent they
have and the talent they hope
to attract is the foundation for
creating effective strategies
in workforce planning, talent
analytics, and talent supply
chain management. It also keeps
human resources human.
Nearly 230,000 workers
participate in the Kelly Global
Workforce Index™
. These surveys
shed light on their priorities
and desires for opportunity,
satisfaction, and growth in
the context of the current
business climate. The 2014
survey delves into six areas and
reveals actionable conclusions
that can inform and improve
corporate talent strategy.
FIN A NC I AL AND INSURANCE SERVICES: WHAT WORKERS WANT
Every year, Kelly Services conducts a comprehensive survey of talent issues in many
industries the world over. It is one aspect of an aggressive campaign to help the
world’s companies understand what attracts, engages, and motivates workers.
CONTENTS Å
1. The candidate application and
on-boarding experience.
Of respondents who applied
for a new job in 2013, only half
expressed satisfaction with the
application and on-boarding
processes. They want regular
communication about application
status, and after hiring, they
expect more structure in learning
about the company’s culture
and business model. Improving
this experience will generate
both a competitive edge and
goodwill that will serve companies
even when a candidate is not
chosen. For candidates who
become employees, a positive
experience in the first 90 days
of employment will likely
increase their engagement
in their work and their long-
term loyalty to the company.
Do this: Use cutting-edge
technology to make it easy for
Do this: Make sure your
company’s online job listings
are dynamic and current,
giving candidates an idea of
what it’s like to work in your
company; embed regular
messages about employment
and company culture in social
media posts; and begin designing
a digital talent community
where candidates, both active
and passive, can experience
your company firsthand.
3. Career development. Most
workers would rather focus
on acquiring new skills than
on climbing the company’s
ladder. And while career
development conversations
may be the best way to
keep employees connected,
companies still have a long way
to go in providing roadmaps
for long-term opportunity.
Develop
personalization
features to keep
candidates engaged
and to differentiate
your company
from others
3
4. Competitive compensation and
benefits, work–life balance,
and opportunities for career
growth. Financial and Insurance
Services workers give employers
high marks for corporate
culture, reputation, and global
international work opportunities.
Companies get lower marks
for competitive compensation
and internal opportunities to
move into other positions.
Do this: Devote attention
to flexible employment
arrangements, your
competitiveness in employment
packages, and internal mobility,
ensuring you connect them to
your employment philosophy.
skills may be in high demand. Yet
even happily employed workers,
through unprecedented digital
access and mobility, stay on top
of new job opportunities. Workers
are confident in their worth
whatever their current situation.
Do this: Ensure your
compensation packages are
competitive; build a talent
community that compels
self-assured, skilled workers to
watch your company closely;
and use every digital means
available to give workers access
to new internal positions, industry
news, and career advice.
5. Worker preferences. Financial
and Insurance Services workers
like a company with a global
Do this: Provide training and
professional development
activities that increase workers’
marketplace value—this will
foster loyalty and support
whether or not a worker is a
lifelong employee, improving
public reputation, branding,
and customer relationships. You
should also tie worker-centric
training to company values
as a way to differentiate your
company from competitors.
4. Worker engagement. Nearly
two-thirds of Financial and
Insurance Services workers intend
to look for a new job in 2015.
Contributing factors may include
searching for better opportunities,
evaluating the general job
market, and learning that their
presence and longevity. They
seek environments that deliver
collaboration, flexibility, the latest
technology and equipment,
and matrix-based operating
models. And they will choose
skill development and work–life
balance over higher pay and
climbing the corporate ladder.
Do this: Invest in work
arrangements tailored to the
preferences of your target
workers. When communicating
with workers, emphasize your
stability, flexibility, and a specific
structure for offering them
development and balance.
6. Employer performance.
Three factors drive employee
attraction and retention:
In communicating
with workers,
emphasize your
stability, flexibility,
and a specific
structure for
offering them
development
and balance
4
CONTENTS Å
5. Yet, combined with greater
customer expectations and
greater regulation—both
influenced and escalated by
technology—the Financial and
Insurance Services sectors will
have to develop more effective
hiring and retention strategies.
There are three reasons for this
problem, and they primarily
revolve around talent.
The job opportunities in the Financial and Insurance Services sectors will grow
significantly between 2015 and 2020, a positive trend in a wobbly global economy.
FIN A NC I AL AND INSURANCE SERVICES TALENT: A SNAPSHOT
First, the talent supply is
strained. There are not enough
specialists in each discipline,
from new graduates to veteran
employees. Knowledge
capital is walking out the
door, and the replacements
are not keeping pace.
Second, the talent identification
and acquisition process needs
an update. At the same time
as the industry reinvents itself
to get closer to customers and
satisfy regulators, Financial and
Insurance Services talent expects
a compelling technological
experience with recruiting,
hiring, and on-boarding. Most
companies are just not there yet.
Third, talent retention is just
as tough as finding the right
people. The most desirable
Financial and Insurance Services
candidates are agile with mobile
technologies, looking aggressively
for their next opportunities, and
well-networked professionally
via social media. Even after
people are hired, companies will
have to innovate to keep this
talent engaged and satisfied
with their work–life balance.
Today, workers have educated
themselves on how to find hiring
information and discern what
might be the best situation for
them. This is a workforce built
for loyalty and productivity. It’s
incumbent upon employers,
especially in a demanding
industry like Financial and
Insurance Services, to create a
work experience that engages
employees from the start, and
keeps them close in a relationship
that extends beyond their
departures—even their retirement.
This year’s Kelly Global
Workforce Index results point
to eight key areas in which
Financial and Insurance Services
employees are most interested:
• the online talent community
• multiple channels of access
to job information
• a smooth application process
• structured on-boarding
• career roadmaps
• professional development
• a cutting-edge work
environment
• competitive compensation.
5
CONTENTS Å
6. CONTENTS Å
THE ONLINE TALENT
COMMUNITY:
OUTSIDE CONNECTIONS LEAD TO INSIDE RELATIONSHIPS
6
7. THE ONLI NE TALENT COMMUNITY
ON PAR WITH
THE GLOBAL AVERAGE
2% MORE THAN
THE GLOBAL AVERAGE
ON PAR WITH
THE GLOBAL
AVERAGE
ON PAR WITH
THE GLOBAL AVERAGE
2% MORE THAN
THE GLOBAL AVERAGE
58% 13% 11% 10% 7%LIKE TO PARTICIPATE IN
SOCIAL EVENTS WITH
COMPANY EMPLOYEES
LIKE TO RECEIVE UPDATES
ON A COMPANY’S FINANCIAL
PERFORMANCE
LIKE TO PARTICIPATE IN
A COMPANY’S SOCIAL
MEDIA NETWORK
LIKE TO PARTICIPATE IN
A COMPANY’S ONLINE
TALENT COMMUNITY
LIKE PERIODIC CONTACT
REGARDING WORK THAT
FITS THEIR SKILL SET
7
CONTENTS Å
Ideal ways to be engaged by a prospective employer:
As talent communities gain
traction, they show potential for
reaching active job seekers and
keeping employees. Among
the most active participants
in these new communities are
Financial and Insurance Services
workers. It’s an extension of
their social networking and
their preferred way of learning
about and connecting to
companies—the latter of which
is an important precursor for
them when applying for jobs.
• The majority (58%) of Financial
and Insurance Services workers
would like to be engaged by a
prospective employer through
periodic contact about work
that fits their skill set; 59% of
workers across all industries
agree. Financial and Insurance
Services workers in the Americas
and EMEA are significantly
more likely than those in
APAC (62% and 58% versus
44%) to prefer periodic contact
regarding work that fits their skill
set. This is ideal for far more
Baby Boomers (67%) than other
generations (53% of Generation Y
and 60% of Generation X).
• More than one in 10 Financial
and Insurance Services workers
would like to be engaged by
a prospective employer by
participating in a company’s talent
community (13%) or social media
networking (11%). Regionally,
significantly more APAC workers
(20%) feel that participating in a
company’s talent community is
an effective engagement tool,
in sharp contrast to those in the
Americas and EMEA (13% in the
Americas and 10% in EMEA).
• While Financial and Insurance
Services workers’ participation
in employer online talent
communities is comparable to
the global average (19% versus
17%, respectively), workers in
APAC and the Americas are more
likely to participate in employer
online talent communities than
their counterparts in EMEA
(25% and 22% versus 11%).
• Among the 81% of Financial
and Insurance Services workers
who have not participated in an
online community, just under half
of those in APAC (49%) and the
Americas (47%) expressed interest
in participating in an online talent
community—significantly more
than those in EMEA (38%). And
significantly more Generation Y
and Generation X Financial
and Insurance Services
workers expressed interest in
participating in an online talent
community, than Baby Boomers
(47% and 45% versus 39%).
8. THE ONLI NE TALENT COMMUNITY
8
CONTENTS Å
What workers like best about participating in an online talent community
Global average
Financial and Insurance
Services workers
Access to job opportunities Learning more about
a given company
Learning from current
and former employees
what it is like to work
for a given company
Access to relevant skill
development information
Access to trusted career
information and tips
Access to trusted
industry information
72%
43%
36% 35%
32%
23%
75%
46%
39%
36% 35%
23%
Nineteen percent of Financial
and Insurance Services workers
have participated in an online
talent community; they like to
do so because they can access
job opportunities and learn
more about companies.
• More Financial and Insurance
Services workers like having
access to job opportunities
via a company’s online talent
community than the global
average (75% versus 72%
globally). Financial and
Insurance Services workers
in the Americas like having
access to job opportunities
via a company’s online talent
community significantly more
than their APAC and EMEA
counterparts (80% versus 70%
and 67%, respectively).
• More Financial and Insurance
Services workers (46%) like
participating in an online talent
community to learn more
about a given company than
the global average (43%).
• Financial and Insurance Services
workers are more likely than
the global average (39% versus
36%) to participate in an online
talent community to learn what
it is like to work for a given
company. And significantly more
Financial and Insurance Services
workers in the APAC region like
participating in an online talent
community to learn what it is
like to work for a given company
(47% in APAC versus 37% in the
Americas and 36% in EMEA).
• More Financial and Insurance
Services workers (35%) like
to participate in an online
talent community to gain
access to trusted career
information and tips than
the global average (32%).
• More APAC workers like
having access to relevant skill
development information (44%
versus 35% in the Americas
and 31% in EMEA) and access
to trusted industry information
(28% versus 21% in the
Americas and 21% in EMEA).
• Among the Financial and
Insurance Services workers
who do not have experience
participating in an online talent
company, 44% are interested in
future participation compared
to only 39% globally.
10. MULTIP LE CHANNELS TO ACCESS JOB INFORMATION
ON PAR WITH
THE GLOBAL AVERAGE
5% MORE THAN
THE GLOBAL
AVERAGE
ON PAR WITH
THE GLOBAL AVERAGE
4% LESS THAN
THE GLOBAL
AVERAGE
ON PAR WITH
THE GLOBAL
AVERAGE
26% 19% 15% 11% 10%USED RECRUITMENT
COMPANIES OR
HEADHUNTERS
WERE APPROACHED
DIRECTLY BY THE EMPLOYER
OR RECRUITER
HEARD ABOUT THE
JOB THROUGH
WORD OF MOUTH
SECURED THEIR MOST
RECENT JOB FROM
EMPLOYEE REFERRALS
USED ONLINE JOB BOARDS
10
CONTENTS Å
Ways workers secured their most recent jobs:
Financial and Insurance Services
professionals use the range
of digital and analog choices
available to help them landa new
position. From online boards to
recruiters to company websites,
these workers use a variety of
means to keep up with new job
postings. Just as candidates use
multiple sources to secure jobs,
hiring organizations must take
advantage of the same resources
to find and engage talent.
• Among the various ways
Financial and Insurance Services
workers secured their most
recent jobs, they most frequently
used online job boards (26%),
which is on par with the global
average (25%). Generation Y
is significantly more likely than
other generations to use online
job boards to secure their jobs
(versus 25% of Generation X
and 22% of Baby Boomers).
• More Financial and Insurance
Services workers (19%) secured
their most recent positions via
recruiting agencies, staffing
companies, and headhunters
than the global average (14%).
Regionally, far more Financial
and Insurance Services workers
in APAC (24%) landed their
most recent jobs via these
resources than those in EMEA
(19%) and the Americas (18%).
• Fewer Financial and Insurance
Services workers (11%) secured
their most recent jobs through
word of mouth than the global
average (15%). More workers
in both the Americas (11%) and
EMEA (12%) secured their most
recent jobs through word of
mouth than those in APAC (7%).
And more workers in APAC (14%)
secured their most recent jobs
from employee referrals than their
regional counterparts (10% in
the Americas and 9% in EMEA).
• Over the past few years,
Financial and Insurance Services
workers outpaced all other
workers in using professional
resources to secure employment.
11. Online job boards, such as
U.S.-based CareerBuilder or
Monster, are a preferred avenue
to reach prospective employees.
Financial and Insurance Services
workers like them, too.
• While various job boards
are available to workers when
searching for jobs, significantly
more Financial and Insurance
Services workers (81%) prefer
general job boards such as
CareerBuilder or Monster than the
global average (76%). Financial
and Insurance Services workers
in EMEA and APAC prefer the
general job boards more than
their counterparts in the Americas
(91% and 86% versus 72%),
and Generations X and Y prefer
them more than Baby Boomers
(82% and 83% versus 73%).
• Similar to the global average
(33%), more than three in 10
(35%) Financial and Insurance
Services workers prefer company-
specific job boards when job
searching. Workers in APAC and
the Americas are significantly
more likely to prefer company-
specific job boards than those
in EMEA (38% and 37% versus
31%), while Baby Boomers
are significantly more likely to
prefer company-specific job
boards than Generations X and
Y (38% versus 34% each).
• About three in 10 (31%)
Financial and Insurance Services
workers prefer aggregator job
boards—such as U.S.-based
Indeed or Simply Hired—which
is on par with the global average
(33%). Workers in the Americas
are significantly more likely to
use aggregator job boards than
those in EMEA and APAC (40%
versus 27% and 10%), while
Baby Boomers are significantly
more likely to use aggregator job
boards than Generations X and
Y (38% versus 33% and 27%).
MULTIP LE CHANNELS TO ACCESS JOB INFORMATION
11
CONTENTS Å
What types of online job boards are most preferred for job searching or evaluating the market?
Global average
Financial and Insurance
Services workers
General job boards like
CareerBuilder or Monster*
Company-specific job boards Aggregator job boards
like Indeed or Simply Hired*
Niche or association-specific
job boards—focusing on IT or
science, for example
76%
33% 33%
14%
81%
35%
31%
11%
*The names of online job boards vary by country; those depicted here operate in the United States.
• Fewer Financial and Insurance
Services workers prefer niche
or association-specific job
boards than the global average
(11% versus 14%). Notably
fewer Financial and Insurance
Services workers in EMEA
and the Americas prefer niche
or association-specific job
boards than those in APAC
(11% and 10% versus 18%).
13. The application process remains
a key step in engaging talent.
Not only does it figure into their
first impression, but the entire
process can change the way a
worker perceives a potential
employer. Among Financial and
Insurance Services workers who
applied for jobs during the past
year, some were satisfied with
the job application process.
However, after they began the
interview phase, frustration
mounted due to employers’
insufficient communication.
• Half (50%) of the Financial
and Insurance Services workers
surveyed expressed satisfaction
with the application process,
which on par with the global
average. Workers in the
Americas expressed higher
satisfaction with the application
process than those in APAC
and EMEA 56% versus 45% and
44%). And more Generation
Y Financial and Insurance
Services workers were satisfied
with the application process
than Generation X workers
and Baby Boomers (52%
versus 49% and 47%).
• More than three-quarters
(78%) of Financial and Insurance
Services workers who expressed
satisfaction with application
process did so as a result of
the ease of submitting their
résumés electronically, similar to
the global average (77%). More
than eight in 10 (84%) workers
in the Americas noted the ease
of applying or submitting their
résumés electronically as a factor
contributing to their satisfaction
with the application process,
compared to less than seven in 10
in APAC (69%) and EMEA (68%).
• Compared to the global
average more Financial and
Insurance Services workers
expressed satisfaction with the
application process as a result
of clear, regular communication
being provided about their
application status (49% versus
45%) and/or their status following
an interview (36% versus 33%).
Clear, regular communication
about application status and
13
CONTENTS Å
A SMOOTH APPLICATION PROCESS
the status following an interview
contributed to satisfaction
with the application process
for more workers in APAC
(58% and 50%) than those in
the Americas (48% and 34%)
and EMEA (48% and 35%).
• The majority of Financial and
Insurance Services workers who
expressed dissatisfaction with
the application process did so
as a result of the lack of clear,
regular communication about the
status of their application (70%),
compared to only 65% globally.
Global average
Financial and Insurance
Services workers
What factors contributed to your satisfaction with the application process?
Easy to apply and submit
résumé electronically using
various electronic devices
Clear job description and
requirements
Clear and regular communication
or updates regarding whether the
application was being considered
Clear and regular communication
regarding the status of the
application following the interview
Awareness of pay and salary range
77%
52%
45%
33% 32%
78%
53%
49%
36%
34%
15. Almost six in 10 (58%) Financial
and Insurance Services workers
reported that their employers
have a planned on-boarding
process. The experience generally
helps workers form a positive
impression of the company. This
value-adding practice could be
influential for employees when
deciding whether to stay or
go during the first 90 days.
• More Financial and Insurance
Services workers in APAC and the
Americas said their companies
had a planned approach to
assimilation than those in EMEA
( 63% and 61% versus 52%).
• Further, more Generation Y
workers said their companies
had a planned approach to
assimilation than Generation X
workers and Baby Boomers
(61% versus 56% and 55%).
• Most Financial and Insurance
Services workers (83%) felt that
their experience during the first
90 days of employment positively
affected their impression of the
company, which is comparable
to the global average (80%).
• Close to half (48%) of Financial
and Insurance Services workers
felt their experience during the
first 90 days of employment
definitely made a favorable
impression. Regionally, more
workers in the Americas felt
that their experience during
the first 90 days of employment
definitely made a favorable
15
CONTENTS Å
STRUCTURED ON-BOARDING
Did your current employer have a planned approach to assimilate
you into the organization once you were hired and/or placed?*
Did your experience during first 90 days with your current
employer positively affect your impression of the company?*
Global average
Financial and Insurance
Services workers
Yes, definitelyYes Yes, somewhatNo No
55%
45%
58%
42%
45%
35%
20%
48%
35%
18%
*Based on workers who had applied for a new job within the past year.
impression than those in APAC
and EMEA (52% versus 46% and
42%). And more Generation
Y workers felt this experience
definitely made a favorable
impression than Generation
X workers and Baby Boomers
(51% versus 46% and 44%).
16. CAREER ROADMAPS:
A GREEN LIGHT IN FINANCIAL AND INSURANCE
SERVICES EMPLOYEE SATISFACTION
16
CONTENTS Å
17. Many Financial and Insurance
Services workers feel that they
can grow with their current
employers if they are given the
tools to learn new skills and
advance their careers. These
factors are key to retention.
• Three in 10 (31%) Financial and
Insurance Services workers felt
that their employers have clear
career path options available,
which is comparable to the global
average (29%). Significantly
more workers in APAC and the
Americas felt their employers
provide clear career path options
than those in EMEA (40% and
32% versus 25%). And more
Generation Y and Generation
X workers agree that their
employers provide clear career
path options than Baby Boomers
(35% and 29% versus 24%).
• Consistent with the global
average (36%), Financial and
Insurance Services workers are
likely to view their employers in a
positive light in terms of providing
opportunities to grow or advance
their careers (36%). Significantly
more workers in APAC and the
Americas indicated that they
have opportunities to grow and
advance their careers with their
current employer than those in
EMEA (44% and 38% versus 30%).
And more Generation Y
(40%) and Generation X (35%)
Financial and Insurance
Services workers felt they
have opportunities to grow
and advance their careers
with their current employers
than Baby Boomers (29%).
17
CONTENTS Å
C AREER ROADMAPS
5
Very clear
career path
options
5
Strongly agree
1
No clear
career path
options at all
1
Strongly
disagree
4 4Don’t know Don’t know3 3Rating of 4 and
5 combined
Rating of 4 and
5 combined
2 2
Global average
Financial and Insurance
Services workers
15%
19%
22%
16%16%
17%
8% 8%
25% 25%
31%
36%
14% 14%
To what degree do you have clear career path
options available with your current employer?
To what degree do you agree or disagree that you have opportunities
to grow or advance your career with your current employer?
14%
20%
23%
17%
15% 15%
12% 12%
23% 23%
29%
36%
13% 13%
19. Financial and Insurance Services
workers want to continue
learning new skills so they
can take advantage of new
career opportunities. They
value mentoring and avail
themselves of training, whether
their employers provide it or
they arrange it themselves.
• Significantly more Financial and
Insurance Services workers (31%)
were satisfied with the career
development resources offered
by their current employers than
the global average (28%). Far
more Financial and Insurance
Services workers in the Americas
and APAC were satisfied with the
career resources offered by their
employer than those in EMEA
(35% and 34% versus 23%).
Generationally, more
Generation Y and Generation X
Financial and Insurance
Services workers indicated
satisfaction with the career
resources offered by their
employer than Baby Boomers
(34% and 30% versus 25%).
• Compared to the global
average, significantly more
Financial and Insurance Services
workers took advantage of
employer-provided training (49%
versus 46%), mentoring (31%
versus 27%), career tests (28%
versus 25%), and professional
career coaching (24% versus
20%) last year. Significantly
more workers in APAC and
the Americas used employer-
provided training (54% and 52%
versus 44% in EMEA), mentoring
(41% and 35% versus 21% in
EMEA), career tests (29% and
31% versus 24% in EMEA), and
professional career coaching (30%
and 27% versus 17% in EMEA).
• Many Financial and Insurance
Services workers consider skill
development so important
they have stepped up to pay
19
CONTENTS Å
PRO FES S IONAL DEVELOPMENT
for training themselves (31%).
More Financial and Insurance
Services workers in the EMEA
region sought or paid for
training themselves than those
in the Americas and APAC (35%
and 30% versus 27%). And
more Generation X workers
and Baby Boomers sought or
paid for training themselves
compared to Generation Y
workers (33% each versus 28%).
Global average
Financial and Insurance
Services workers
Resources used within the last year to prepare for career development opportunities
Employer-provided training Training sought out
or paid for myself
Mentoring Career tests Professional career coaching Other
46%
32%
27% 25%
20%
7%
49%
31%
31%
28%
24%
5%
21. There is a strong indication
that Financial and Insurance
Services workers prefer a highly
collaborative environment and
flexible work schedules, but
they also want to use
cutting-edge technology to get
the job done. Employers who
deploy myriad workplace features
may have the most success in
attracting and retaining talent.
• More than any other
characteristic, Financial and
Insurance Services workers prefer
to collaborate with their peers.
Similar to the global average,
close to six in 10 (58%) felt the
ideal workplace provides a highly
collaborative environment.
• More than half of the Financial
and Insurance Services workers
surveyed (56%) viewed flexible
work arrangements, such as
remote options or flexible
work schedules, as a highly
desirable feature, more than
the global average (54%). Far
more Financial and Insurance
Services workers in the Americas
and APAC viewed flexible
work arrangements as a highly
desirable feature than those in
EMEA (63% and 60% versus 44)%.
• Technology and virtual teams
are also ideal work environment
features, as at least four in 10
Financial and Insurance Services
workers desired exposure to
the latest technologies (42%)
and virtual teams (40%). More
Financial and Insurance Services
workers in the Americas and
APAC want exposure to latest
technologies than those in EMEA
(46% and 42% versus 37%),
while significantly more workers
in APAC and the Americas
want virtual teams than those
in EMEA(47% and 43% versus
30%). And more Baby Boomers
want exposure to the latest
technologies than Generation X
21
CONTENTS Å
A C UTTING - EDGE WORK ENVIRONMENT
and Y workers (46% versus 43%
and 41%), while more
Generation X workers and
Baby Boomers want to work on
virtual teams than Generation Y
workers (42% each versus 37%).
• More Financial and
Insurance Services workers
(25%)—compared to the
global average (21%)—felt
a competitive environment,
where the rewards and risks
are high, is an ideal feature.
Highly collaborative
environment and
cross-functional teams
Flexible work
arrangements,
such as remote work
options and flexible
schedules or hours
Competitive, where
the rewards and
risks are high
Exposure to the latest
technologies and
top equipment
Highly individualized
work with limited
teamwork and
limited opportunites
to collaborate
Global average
Financial and Insurance
Services workers
57%
54%
21%
44%
18%
58%
Virtual teams
37%
40%
56%
25%
18%
Matrix-based
organizational structure
29%
31%
42%
Traditional work
arrangements,
9–5 schedule for all
32% 31%
Rapid pace of
constant change
32% 33%
Culture of
innovation and creativity
where the status
quo is challenged
39% 39%
Traditional hierarchy-
based organizational
structure
27% 28%
Ideal work environment features
23. Compensation, work–life
balance, and opportunities to
advance are the leading factors
that Financial and Insurance
Services workers weigh up in their
employment decisions. There is
no doubt that each factor holds
independent significance, but
it’s the blend of the three that
drives these workers and can
sway them from one employment
opportunity to another.
• Financial and Insurance Services
workers are more likely than the
global average (88% versus 84%)
to cite salary, benefits, and other
financial incentives as a main
attraction factor. More Financial
and Insurance Services workers in
APAC and the Americas felt that
compensation is a top attraction
factor than those in EMEA
(91% and 88% versus 85%).
• Two-thirds of Financial and
Insurance Services workers
(66%) felt that opportunities for
advancement are a key attraction
factor, significantly more than the
global average (62%). Seventy-
one percent of Financial and
Insurance Services workers
in the Americas considered
opportunities for advancement
as a top attraction factor, which
is significantly more than their
regional counterparts (65% in
APAC and 60% in EMEA).
23
CONTENTS Å
C O M P ETI TI VE COMPENSATION
• Two-thirds (66%) of Financial
and Insurance Services workers
cited work–life balance as a key
attraction factor, which is similar
to the global average (64%).
Regionally, more workers in
APAC and the Americas cited
work–life balance as an attraction
factor than those in EMEA
(77% and 69% versus 63%).
• When looking at other
significant differences, Financial
and Insurance Services workers
are more likely than the global
average to cite corporate
culture (42% versus 34%),
corporate reputation (41%
versus 34%), and international
opportunities (27% versus 24%)
as attraction factors, but less
likely to cite environmental
friendly and responsible
practices (30% versus 34%).
Salary,
benefits, or
other financial
incentives
Opportunities
to work with
knowledgeable
colleagues
Work–life
balance
Corporate
values match
own
Flexible work
arrangements
Opportunities
for
advancement
Training and
development
programs
Global average
Financial and Insurance
Services workers
Factors that drive workers to take one job or position over another
84%
46%
64%
34%
42%
62%
58%
88%
Corporate
reputation
34%
41%
47%
International
opportunities
24%
27%
66%
35%
43%
Derive more
sense of
meaning
from work
28%
29%
Corporate
sovereignty
and goodwill
17%18%
66%
Environmentally
friendly and
responsible
practices
34%
30%
Corporate
culture
34%
42%
Diversity
and equal
opportunites
28% 28%
60%
Exposure to
top-notch
equipment
29% 27%
Commun-
ication and
feedback from
the application
process
42% 42%
Non-traditional
perks like
an athletic
facility, etc
24% 26%
24. Retention factors are similar to
attraction factors; most Financial
and Insurance Services employees
are focused on compensation and
opportunities for advancement.
Given the similarities, employers
may want to go beneath the
surface to understand how other
factors are driving workers’
decisions to leave an organization,
or change jobs or careers.
• Compensation is a key factor
that would drive Financial and
Insurance Services workers to
leave an organization or change
jobs or careers, as more than six
in 10 (61%) attributed salary and
benefits as the reason they would
leave their jobs. This is on par
with the global average (60%).
More Financial and Insurance
Services workers in APAC and
EMEA attributed salary and
benefits as a reason they would
leave their jobs than those in
the Americas (67% and 62%
versus 58%). More Generation Y
workers cited salary and benefits
as a reason they would leave
their jobs then Generation X
workers and Baby Boomers
(66% versus 59% and 51%).
• Lack of advancement
opportunities is also a key
in driving Financial and
Insurance Services workers
to leave their jobs—more
24
CONTENTS Å
C O M P ETI TI VE COMPENSATION
than the global average (44%
versus 41%). Workers in the
Americas and APAC are more
likely to leave their jobs due
to the lack of advancement
opportunities than those in
EMEA (46% each versus 42%).
• Forty-eight percent of
Generation Y and 46% of
Generation X workers are likely
to leave their jobs due to the lack
of advancement opportunities
than Baby Boomers (34%).
• Current management is a
retention factor for more Financial
and Insurance Services workers
than the global average (31%
versus 28%). Far more Financial
and Insurance Services workers in
APAC noted current management
as a retention factor than those
in the Americas and EMEA
(44% versus 29% and 28%).
Salary,
benefits, or
other financial
incentives
Current
management
Opportunities
for
advancement
StressWork–life
balance
Major life-
changing
event
Staff morale Skill fit and
interest in
the job
Global average
Financial and Insurance
Services workers
60%
28%
41%
26%
24%
21% 20%
18%
22% 20%
Flexible work
arrangements
18% 18%18%
36%
33%
61%
Training and
development
programs
31%
44%
Commun-
ication and
feedback
27%
22%
14% 15%
Corporate
values
14% 16%
Outlook for
current area
of expertise
is limited
37%
16% 17%
Inability to
derive sense
of meaning
from work
12% 13%
International
opportunities
11%
13%
Corporate
reputation
35%
15% 15%
Career
opportunities
in emerging
industries
13% 18%
Corporate
culture
11% 11%
Diversity
and equal
opportunities
Factors that drive workers to leave an organization, or to change their job or career
26. Financial and Insurance Services
workers are generally pleased
with their work–life balance.
This is a strong foundation for
employers, and it’s a call to
action: Employer performance
is clearly the deciding factor
when workers are presented with
multiple employment options.
Just as companies continually
monitor employee performance
to foster high levels of
productivity and top-quality work,
it’s important to turn the spotlight
on employer performance in
Financial and Insurance Services.
In this industry, employer
performance is turning into a
key point of differentiation.
Around six out of 10 Financial
and Insurance Services workers
rated their employers highly
in the following areas:
• Work–life balance (67%):
Workers in the Americas and
APAC were more likely to indicate
work–life balance than those in
EMEA (69% and 68% versus 64%).
• Diversity and equal
opportunities record (61%):
Workers in the Americas and
APAC were more likely to
indicate diversity and equal
opportunities than those in EMEA
(68% and 60% versus 47%).
• Competitive compensation
and benefits (59%): Workers in
the Americas and APAC were
more likely to indicate high
performance than those in EMEA
(62% and 59% versus 54%).
• Clear, cohesive direction
and corporate strategy (58%):
Workers in APAC and the
Americas were more likely to
rate their current employers
higher in terms of providing clear,
cohesive direction and corporate
strategy than those in EMEA
(62% and 61% versus 49%).
In looking at other significant
differences, Financial and
Insurance Services workers
IT’S ALL ABOUT EMPLOYER PERFORMANCE
ON PAR WITH
THE GLOBAL AVERAGE
ON PAR WITH
THE GLOBAL AVERAGE
2% MORE THAN
THE GLOBAL AVERAGE
67% 61% 58%PREFER A CLEAR,
COHESIVE DIRECTION AND
CORPORATE STRATEGY
PREFER A GOOD
DIVERSITY AND EQUAL
OPPORTUNITY RECORD
5% MORE THAN
THE GLOBAL AVERAGE
59%PREFER COMPETITIVE
COMPENSATION, BENEFITS,
AND OTHER FINANCIAL
INCENTIVES
PREFER WORK–LIFE
BALANCE
are more likely than the global
average to rate employers
highly in employment education
opportunities (53% versus
50%), recognition and reward
programs (48% versus 42%),
and non-traditional perks (36%
versus 32%), but less likely to rate
them highly for environmentally
friendly and responsible work
practices (56% versus 61%) and
opportunities to be involved
in interesting, meaningful
work (55% versus 60%).
26
CONTENTS Å
27. • More than half of the Financial
and Insurance Services workers
surveyed would give up higher
pay and/or career growth and
advancement for the opportunity
to learn new skills (57%) or for a
greater work–life balance (52%),
equal to the global averages.
More Financial and Insurance
Services workers in both APAC
and the Americas would give
up higher pay and/or career
growth and advancement for the
opportunity to learn new skills
(65% in APAC and 57% in the
Americas versus 54% in EMEA)
or for a greater work–life balance
(62% in APAC and 54% in the
Americas versus 45% in EMEA).
• Nearly two-thirds (65%) of
Financial and Insurance Services
workers will actively look for a
new position within the next year,
significantly more than the global
D ID Y OU KNOW?
average (61%). More Financial
and Insurance Services workers in
EMEA will actively look for a new
position within the next year than
those in APAC and the Americas
(69% and 64% versus 62%).
• Nearly half (46%) of the
Financial and Insurance Services
workers surveyed actively look
for better job opportunities or
evaluate the external job market,
even when happy in their jobs.
This is on par with the global
average of 47%. Regionally,
Financial and Insurance Services
workers in EMEA and APAC are
more likely than those in the
Americas (53% and 50% versus
41%) to actively look for better
job opportunities or evaluate
the external job market.
• Significantly more Financial
and Insurance Services workers
felt that they are in a position of
high demand in the marketplace
than the global average (57%
versus 53%). Far more workers in
the Americas and APAC felt they
were in a position of high demand
in the marketplace than those in
EMEA (62% and 56% versus 48%).
• More Financial and Insurance
Services workers prefer to work
for a global company than the
global average (42% versus
35%). Further, and on par with
the global average, Financial
and Insurance Services workers
prefer to work for an established
company with longevity (43%
versus the 41% global average).
Financial and Insurance Services
workers in APAC and EMEA are
more likely than those in the
Americas to prefer to work for
a global company (65% and
50% versus 29%) and prefer
to work for an established
company with longevity (44%
and 48% versus 39%).
• A larger proportion of
Financial and Insurance Services
workers (21%) prefer to work for
Fortune 100 and 500 companies
than the global average (16%).
More workers in APAC prefer
to work for Fortune 100 and
500 companies than those
in the Americas and EMEA
(33% versus 21% and 17%).
• Nearly three-quarters (72%) of
Financial and Insurance Services
workers were willing to move
for the right job, which is on par
with the global average (70%).
More workers in APAC and EMEA
are willing to move for the right
job than those in the Americas
(82% and 73% versus 68%).
• Seven in 10 (70%) Financial
and Insurance Services workers
said they use social media
websites as their primary
method of networking (on par
with the 71% global average).
APAC Financial and Insurance
Services workers are more likely
than those in the Americas and
EMEA (77% versus 70% and
67%) to use social media as their
primary method of networking.
• Nearly four in 10 (38%)
Financial and Insurance Services
workers are inclined to search
for jobs via social media rather
than using traditional methods,
which is comparable to the global
average (36%). More APAC
workers are inclined to search
for jobs via social media than
those in EMEA and the Americas
(55% versus 36% and 34%).
27
CONTENTS Å
28. As complex as competing for
high-quality performers has
become, workers can be met on
their terms without employers
sacrificing their company’s core
values and practices. Here are six
things you can do as an employer
to relate to the workforce
dynamically and with satisfying
results. At the same time, you will
add definition and character to
your workplace.
1. Deliver an exceptional
application and on-boarding
experience. Make your company
irresistible by personalizing the
hiring process through both
technology and well-prepared
staff members. Emphasize
that you value engagement
and highlight the factors that
differentiate your company from
others in your industry.
KE LLY I NS I G HT: THERE ARE SIX WAYS TO GIVE FINANCIAL AND
IN SURANC E SERVICES WORKERS WHAT THEY WANT
2. Participate in every possible
digital channel and be mobile-
friendly. The rise of social media
and user-centric digital design
has raised workers’ expectations
for better and more up-to-date
company information. Figure out
where your employees and hiring
targets spend their digital time,
and make an effort to relate to
them there. Most importantly,
create a talent community that
lives online yet is completely
authentic to your workplace. Give
workers a reason to pay attention
to what you do and inspire them
to join you.
3. Personalize the career path.
Workers clearly see themselves as
valuable in terms of the skills they
possess and new practices they
can learn. Spend strategic time
working out what your company
can do to nurture every worker’s
professional development. This
cultivates loyalty and strengthens
your company’s culture. It also
ensures that your workforce is at
the top of its game and ready
to share the message that your
company is a good place to work.
4. Fight to make your workplace
remarkable. Employees expect
competitive pay packages and
transparent employment policies.
By emphasizing these two areas
alone, your company will attract
appropriate attention and build
a positive image organically.
Word gets around.
5. Determine how you can
please your workers. Learn the
preferences, not just the needs,
of your workforce. Think about
how you can provide a stable
yet flexible work environment
that blends challenges and
opportunities. Show your workers
how this environment will help
them grow and develop.
6. Develop your persona as
an employer. Articulate all
the qualities that define your
company’s approach to operating
in and serving your market. Be
ready to define how you are
different from others in your
industry and how you got to be
that way. Give employees and
candidates a reason to connect
with your employment philosophy.
The 2014 Kelly Global Workforce Index™
revealed that workers expect to connect with
employers—and potential employers—across a variety of channels and in real time.
28
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