BAI, a nonprofit independent organization that delivers the financial services industry’s most actionable insights, recently announced the key findings of the 2018 BAI Banking Outlook research study to reveal data on employee engagement and talent management.
During the BAI Banking Outlook Webinar – Trends in Talent Management on March 7, BAI shared the highlights of the BAI Banking Outlook, a research study of 594 leaders including human resource professionals and employees of financial services organizations ranging in size from community banks to large mega banks. BAI conducts industry research regularly to provide financial services leaders with actionable insights on the latest trends in the industry.
Highlights from the BAI Banking Outlook include:
· Surveyed financial service organization employees are most satisfied with their work environment and their organizations’ ethics and values;
· These employees were least satisfied with their organizations’ career development tracks and their salaries;
· The top reasons bankers would leave their organizations are:
- Better salary (66 percent agreed)
- Career advancement opportunities (48 percent agreed)
- More engaging or fulfilling work (48 percent agreed)
· Fewer than half of employees surveyed are aware of a leadership development program at their organization; and,
· In organizations without a leadership development program, employees are three times more likely to leave in the next 12 months.
“Financial service organizations are keenly aware of the importance of retaining key employees by promoting employee engagement and implementing successful talent management techniques,” said Karl Dahlgren, managing director at BAI. “Our survey insights suggest that organizations have an opportunity to develop and retain talent by creating leadership development programs or communicating more effectively about existing programs. Employee engagement is vital to a financial service organization’s well-being and our research enables us to provide meaningful solutions to organizations looking to retain and engage talent and improve productivity.”
For more information about the BAI Banking Outlook survey results, or to watch the free webinar, visit https://www.bai.org/