Have you ever had the very best offer on the table for a desired candidate, then been baffled when they reject it in favour of something that offers less than the amount for a different employer? It happens more regularly than you think. Sometimes it can be the things you don’t consider an important factor – but to the desired candidate, it is something monumental that speaks volumes.
It needs to be expressed that we live and work in a vastly different society than in 2019. The events of the world threw our lifestyles and working requirements into complete disarray. When we emerged, we had to do things much differently – and approach the way we accept working conditions as a result.
Research into the psychological welfare of the UK workforce was underway way before the pandemic hit the world, with professionals in the finance sector a prime study. The increasing prevalence of mental health-related problems in the finance sector was widespread before everyone was forced inside their homes for lockdowns and suffered the effects of an impending recession.
More and more people in the financial sector value their mental health over high-paying, fast-paced corporate positions. 300,000 individuals leave employment each year due to mental health effects such as stress, anxiety and depression being the contributing factors.
Over 75% of employees within the financial sector as far back as 2018 stated that their firms needed to do more to safeguard employee mental health, with emotional well-being support provided by the firms being among the requests to access.
Helping Your Company
Not only do established and newer firms stand to financially benefit from implementing safeguards for mental health, but they also stand to improve employee retention. Poor mental health practice in the workplace costs employers between £33-42 billion every year – with employees disengaged from their jobs and taking days to recover. The inadequacy of mental health systems not only affects the business bottom line – today it also drives away key talent hires.
Many hires will not openly enquire about any mental health plans or support infrastructure within a company during the hiring process as they may feel it would reflect weakly on them. However, they will find a way to factor it into the overall decision of your substantial offer.
The stigma around mental health-related issues in the financial sector is something that companies should eliminate as part of their hiring process. Promoting that you take employee mental health as a priority, and have numerous safeguards and avenues for their workforce, helps the desired applicant to accept your offer without feeling their career prospects would be jeopardised. That can also be related through your financial recruitment Manchester partner to help identify which candidates would openly feel this is a plus for the role offered.
Contact the team at Imperium today for aid in financial recruiting Manchester and attain the key hires to grow your business.