Personnel Today
  • OHW+
  • Resources
    • Clinical governance
    • Disability
    • Ergonomics
    • Health surveillance
    • OH employment law
    • OH service delivery
    • Research
    • Return to work and rehabilitation
    • Sickness absence management
    • Wellbeing and health promotion
  • Conditions
    • Mental health
    • Musculoskeletal disorders
    • Blood pressure
    • Cancer
    • Cardiac
    • Dementia
    • Diabetes
    • Respiratory
    • Stroke
  • CPD
  • Webinars
  • Jobs
  • Personnel Today

Personnel Today

Register
Log in
Personnel Today
  • OHW+
  • Resources
    • Clinical governance
    • Disability
    • Ergonomics
    • Health surveillance
    • OH employment law
    • OH service delivery
    • Research
    • Return to work and rehabilitation
    • Sickness absence management
    • Wellbeing and health promotion
  • Conditions
    • Mental health
    • Musculoskeletal disorders
    • Blood pressure
    • Cancer
    • Cardiac
    • Dementia
    • Diabetes
    • Respiratory
    • Stroke
  • CPD
  • Webinars
  • Jobs
  • Personnel Today

StressHybrid workingFinancial servicesLatest NewsMental health

Burnout afflicts finance sector despite hybrid working

by Adam McCulloch 26 May 2022
by Adam McCulloch 26 May 2022 Photo: Shutterstock
Photo: Shutterstock

Despite the advent of hybrid working, new figures suggest that large numbers of financial services and banking professionals are planning to leave the industry due to high pressure.

The study, by LemonEdge, a digital accountancy platform for venture capital, suggested that nearly a quarter (23%) of financial service workers are concerned about their health or mental health.

According to the research there is a risk of an exodus from the industry that risks seeing valuable talent leaving the sector in record numbers amid increasing rates of burnout.

The study acknowledges that many workers have experienced the positive benefits of hybrid working, with some saying they are “thriving”, but a third (33%) of financial services and banking professionals state levels of burnout have increased partly because of changes in work environment since the pandemic. Within this, one in six (14%) state burnout has increased exponentially.

Approaching half of financial services and banking professionals (42%) stated that a heavy workload was the main contributor to heightened pressure in their roles. This was closely followed by manual processes (36%), long working hours (32%), tight deadlines (26%), and increasing demands from management (25%).

Burnout and resignations

Employees resigning in 2022: Survey shows ‘great resignation’ not over

More than 10 million workers suffering from burnout

Does HR need to worry about the ‘great resignation’?

Ill health and Covid force 400,000 out of labour market

A quarter (26%) of financial and banking staff said they were feeling nervous about the future, while a further 23% are specifically worried about their health or mental health.

Overall, one in six (15%) financial services workers said they often feel as though they can no longer continue in the sector, or have the desire to continue in their role within the industry, rising to 21% of males.

A third of financial services professionals stated that a reduced workload would reduce burnout. Other solutions include time off work (27%), more support from management (25%), and faster, more efficient technology (23%).

Gareth Hewitt, co-founder and chief executive officer at LemonEdge, said: “With thousands of employees planning to leave the industry as a direct result of high pressure, it should be a clear warning to firms before they risk losing valuable talent.

“The risk of burnout to employers is huge, and there are simple measures firms can introduce to reduce the risk of burnout, making the lives of their employees’ much simpler, easier, and with less stress. Firms need to be aware of the impact absenteeism and presenteeism will have on both their employees and business productivity. Just because you’re working from home, or in a hybrid model, it doesn’t mean you can’t enjoy time off.

“With one in four (23%) asking for faster or improved technology to eliminate manual processes, firms need to look at their approaches to improve the lives of their staff. In this day and age, technology, not only can but should, provide the automation and flexibility that can contribute to reduced stress, reduced working hours, and lower risk of burnout.”

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

OptOut
This field is for validation purposes and should be left unchanged.

Many companies in associated sectors, such as professional services, have introduced schemes to alleviate burnout and attract talent. For example, PwC has extended its summer hours working scheme whereby staff have Friday afternoons off.

Latest HR job opportunities on Personnel Today


Browse more human resources jobs

Adam McCulloch

Adam McCulloch first worked for Personnel Today magazine in the early 1990s as a sub editor. He rejoined Personnel Today as a writer in 2017, covering all aspects of HR but with a special interest in diversity, social mobility and industrial relations. He has ventured beyond the HR realm to work as a freelance writer and production editor in sectors including travel (The Guardian), aviation (Flight International), agriculture (Farmers' Weekly), music (Jazzwise), theatre (The Stage) and social work (Community Care). He is also the author of KentWalksNearLondon. Adam first became interested in industrial relations after witnessing an exchange between Arthur Scargill and National Coal Board chairman Ian McGregor in 1984, while working as a temp in facilities at the NCB, carrying extra chairs into a conference room!

previous post
Top 10 metrics HR leaders are using today (webinar)
next post
Davos hears that ‘wages can rise’ without creating price spiral

You may also like

Senior execs at BlackRock to work in office...

8 May 2025

Reform UK councils’ staff face WFH ban

6 May 2025

Remote working may have triggered jump in employee...

17 Apr 2025

Employers struggling to manage rising levels of sickness...

7 Apr 2025

Hybrid workers less sick and less stressed

28 Mar 2025

Dog owners more likely to want to work...

24 Mar 2025

Five years on: how has work changed since...

12 Mar 2025

Return to the office: Gartner highlights the risks...

27 Feb 2025

Ramadan in the workplace: top tips for employers

21 Feb 2025

Property consultant with morning sickness awarded £94k after...

18 Feb 2025

  • 2025 Employee Communications Report PROMOTED | HR and leadership...Read more
  • The Majority of Employees Have Their Eyes on Their Next Move PROMOTED | A staggering 65%...Read more
  • Prioritising performance management: Strategies for success (webinar) WEBINAR | In today’s fast-paced...Read more
  • Self-Leadership: The Key to Successful Organisations PROMOTED | Eletive is helping businesses...Read more
  • Retaining Female Talent: Four Ways to Reduce Workplace Drop Out PROMOTED | International Women’s Day...Read more

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2025

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2025 DVV Media International Ltd

Personnel Today
  • OHW+
  • Resources
    • Clinical governance
    • Disability
    • Ergonomics
    • Health surveillance
    • OH employment law
    • OH service delivery
    • Research
    • Return to work and rehabilitation
    • Sickness absence management
    • Wellbeing and health promotion
  • Conditions
    • Mental health
    • Musculoskeletal disorders
    • Blood pressure
    • Cancer
    • Cardiac
    • Dementia
    • Diabetes
    • Respiratory
    • Stroke
  • CPD
  • Webinars
  • Jobs
  • Personnel Today