Branding for Talent: Financial Services

Philip Davies

Philip Davies

President - EMEA

Siegel+Gale

With companies in the top quartile for diversity showing a 20% increase in profitability according to McKinsey, the link between diversity and company performance can’t be denied.

86% of women and 74% of men under 35 say they consider employers’ reputation for diversity, equality and inclusion when deciding which company to work for (PwC). In the fight for talent, brand is a decisive factor.

But it might be the decisive factor in attracting the best of the innovators, rainmakers and disruptors when it comes to head-to-head comparison. The Financial  Services sector still has a reputation for being a boys’ club.

Regularly confessing to being labelled “pale, male and stale” at the upper echelons, our clients often ask us, in the competition against the likes of Big Tech, how can Financial Services organisations increase the likelihood of winning the best and most diverse talentby leveraging the power of their brand?

When considering this question, we realised it was powered by assumptions, with very little data on how different Financial Services companies and categories are perceived, and even less data on what might be stopping top talent from more diverse backgrounds applying for jobs in the space.

In this study, Siegel + Gale presented our bespoke survey to higher education students and graduates in seven territories across the EU (UK, Germany, Switzerland, Denmark, Sweden, Norway) and North America.

In total, 1,275 people responded (about 250 per territory) aged 20 to 25 years. Quotas were applied to ensure a representative sample across age, gender, ethnicity, sexual orientation and social class. All respondents were either in higher education or qualified with an undergraduate degree or above.

The study explores respondents’ knowledge and perceptions of 13 industries, plus the drivers and barriers in applying for positions in Financial Services, as well as a deep dive into 80 specific Financial Services brands.
Download the full report here: Branding for Talent Financial Services

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