UK firms put employee wellbeing top of the agenda

Apr 6, 2020 10:45 PM ET

Nearly eight (77%) in 10 organisations say employee wellbeing as a key priority for this year, according to consultancy Bishopsgate Financial’s Change Perspective 2020 report.

The report found that this year finance and technology will continue to merge together to provide new opportunities to organisations and a more extensive range of products to customers.

Employee wellbeing leads the way in factors respondents feel will feature in change plans for 2020. And the report shows a broad range of topics being recognised in this area, with organisations finding ever-increasing ways to support their people. Mental health and stress at work can manifest itself in several ways. By broadening the conversation to talk openly about both work-related stress and personal life events, organisations are seeking to provide a more supportive environment for their people.

A total of 66% also expect diversity to be a key focus. Gender diversity has made progress but women remain under-represented in senior and board-level positions. The benefits that diversity brings in terms of decision-making and understanding customers are well understood, so it’s no surprise to see a continued focus there.

Mike Hampson, founder and CEO of Bishopsgate Financial, said: “2020 looked set to be a year in flux, however, the coronavirus crisis has without being dramatic turned the world upside down. The crisis has accelerated a number of trends from the focus of regulators on operational resilience, to climate change and the ability for technology to empower and provide workplace flexibility.

He adds: “There has also been a change in tone in business conduct, financial institutions are being called upon to show leadership and responsibility and are focusing on the human costs of their decisions. Major banks have paused their restructuring as they know the newly jobless would struggle to find new work now.”

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