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Let’s be real — the financial services industry is no stranger to challenges. High turnover, long hours, and fierce competition for top talent are all part of the package. But here’s the thing: these pressures don’t have to dictate the employee experience.
A thoughtfully crafted employee recognition program can help lighten the load, offering a break from the grind and a boost where it matters most. Want to learn more? Read on to discover why recognition is a game-changer in financial services, and how Achievers can be the partner you need for success.
Why employee recognition matters in financial services
Employee engagement impacts everything from employee productivity and performance to employee retention in the financial sector. With the industry being among the most challenging sectors for hiring and retention, the need to keep top talent engaged and supported has never been more urgent.
When employees feel genuinely recognized and valued, you’re helping to foster a workforce that is invested in their employees, who then choose to stay invested and are motivated. An effective recognition program creates a culture where appreciation is part of the everyday, helping employees feel seen, supported, and motivated to do their best work. This creates a more loyal, energized workforce and a strong company culture people want to be a part of.
Challenges financial services companies face in employee engagement
The challenges of employee engagement in the financial sector is real. It’s not easy to create an employee-focused work environment in a sector that’s naturally higher-stress and rapidly evolving compared to other fields. The good news? Not only is it possible, but it can be transformative.
Ready? Here are four challenges uniquely faced by financial service companies, and how effective recognition programs like Achievers can help turn them into opportunities.
Managing stress and burnout risks
From long working hours, meeting tight deadlines, and limited control over external factors like the market, the financial sector comes with its own list of challenges that can cause a serious case of burnout, even to the most resilient of employees. Without the right support, it’s easy for stress to snowball into full-blown employee burnout.
That’s where balance comes in. When hard work is consistently met with meaningful rewards, employees feel seen, valued, and motivated to keep going. Recognition programs help create that balance by boosting morale and showing employees their hard work is appreciated and fairly rewarded.
Building a cohesive culture across dispersed teams
If going to work now means opening up a laptop from the kitchen table, the line between work and life can quickly blur. While flexible work models meet the evolving expectations of today’s workforce, they can also contribute to employee isolation, burnout, and diminished connection between colleagues.
Remote and hybrid work models are here to stay, and for good reason. But without the right tools and strategies in place, it’s easy for teams to feel a bit disconnected. That’s where a recognition program like Achievers can bridge the gap between disconnected employees, foster connections and belonging, both in person and virtually. This creates a stronger, more cohesive culture where engagement thrives.
Competing for skilled employees in a tight labor market
The ongoing competition for “top talent” at tech and financial services companies, paired with a high turnover rate, is a recipe for chaos. According to a Forbes Advisor survey, some of the most attractive job prospects to employees include features like paid time off (PTO), a strong work-life balance, and opportunities for growth and development.
These features all share a culture of recognition. Ensuring employees feel seen, valued, and supported in their growth is essential. Using an employee engagement program can help make this possible; from boosting retention to helping attract high-quality candidates, the right platform can streamline your business to both attract and keep high-quality candidates.
Navigating regulatory pressures to prevent disengagement
We get it; the financial services industry is full of uncontrollable factors. From market volatility and shifting regulations to client changes and technological overhauls, each challenge adds to the ever-evolving landscape, contributing to an overworked and disengaged workforce.
When work feels unpredictable, consistency can act as a superpower. An employee recognition platform like Achievers brings structure and transparency to an otherwise inconsistent field, helping to reduce stress and boost employee satisfaction. This, in turn, helps reduce employee stress and increase employee satisfaction all while maintaining compliance. It’s a win-win!
How Achievers can help transform employee recognition in financial services
Wondering how an employee recognition program can help elevate your financial services business into one that’s both compliant and fast-paced, while also prioritizing employee experience? With Achievers, you can have it all.
Here are just a few of the advantages Achievers offers to transform employee recognition for your business:
- Seamless integration with financial services platforms: Achievers seamlessly integrates with financial services platforms and existing systems, making implementation effortless.
- Customizable rewards and recognition: Rewards are tailored to diverse needs of employees in the financial services sector, ensuring personalized recognition.
- Data-driven insights for HR teams: Continuous tracking of performance and engagement provides valuable insights, helping HR teams drive company efficiency and productivity.
- Real-time, peer-to-peer recognition: Strengthen company values and boost employee morale with real-time, peer-to-peer recognition that keeps employees engaged.
Choosing an employee recognition program like Achievers is a proven way to boost productivity and drive business success. A more engaged, productive workforce is an investment in your company’s future.
Key features of Achievers for financial services
Wondering what it really takes to boost employee engagement? Achievers offers key features designed to elevate every aspect of employee engagement.
Read on to discover how these features can help financial services organizations integrate personalized recognition, continuous feedback, AI-driven insights, and accessible platforms.
Personalized recognition
Personalization is everything; it’s the difference between making an impression and making an impact. People want to feel truly seen and valued for their individual contributions. The same way a handwritten note feels more meaningful than a generic, mass-produced printed card.
Every department, team, and employee has unique goals; each one specific to their needs, job position, and personal life. Achievers allows for customized recognition and rewards, tailored specifically to your organization’s financial service objectives. Whether it’s additional paid time off, a team shout out, or a thoughtful gift card, Achievers understands how personalization drives employee satisfaction and fosters a stronger, more engaged workforce.
Continuous feedback
Feedback, in all its forms, is essential for providing employees with direction, as well as a deeper sense of purpose and motivation. By consistently sharing what’s working and what isn’t, businesses can foster transparency across all levels, ensuring that everyone stays aligned and feels included in the broader organizational vision.
Achievers understand the power of cultivating a company culture that values ongoing feedback and recognition. Through regular, automated surveys and real-time data tracking, employee insights and goals are captured and prioritized, helping ensure the workplace functions at its highest potential.
AI-driven insights
Data alone won’t matter much if it can’t be understood, measured, and turned into actionable insights. As the saying goes, “to measure is to know.” Keeping track of which employees or teams need more recognition, identifying the most effective forms of recognition, and remembering work anniversaries can quickly become overwhelming.
With Achievers’ AI-driven insights, employee data is analyzed to identify key patterns, like engagement drops, top-performing teams, and areas in need of attention, so you don’t have to manage the details. Achievers handles the administrative side, allowing you to focus on what truly matters: driving your business forward.
Mobile-friendly platform
Time truly is of the essence in the financial services industry. Employees are often on the move, juggling complex, high-pressure responsibilities.
Achievers’ mobile-friendly platform makes recognition and communication easily accessible anytime, anywhere. Whether it’s sending a quick note of appreciation or accessing key updates, employees can stay connected and engaged without unnecessary delays or roadblocks. With Achievers, efficiency stays high, no matter where work happens.
Recognition in action: How ATB Financial turned culture into a superpower with Achievers
Curious how Achievers performs in the real world? Just ask ATB Financial. With a company culture rooted in recognition, ATB partnered with Achievers and saw a 13% boost in engagement within the first year, and an incredible 91% increase over time.
Achievers his impacted engagement at ATB by giving our team members a platform to share their voice and seek and share feedback amongst each other, to come together as one ATB in a visual way.” — Kerilee Snatenchuk, Director, People & Culture, ATB Financial
By prioritizing feedback, visibility, and employee recognition, ATB Financial embraced Achievers as a long-term solution for employee engagement, and the results speak for themselves.
The ROI of investing in employee recognition for financial services
Teams perform at their best when recognition is consistent, meaningful, and built into everyday culture. With Achievers, that process becomes seamless, helping reduce recruitment costs and protect your most valuable resource: time.
Recognition signals something powerful to employees; that they’re seen, valued, and supported. Achievers brings that to life through personalized rewards, real-time feedback, and AI-driven insights that help spot patterns, track engagement, and boost employee retention. This all contributes to a more engaged, productive workforce and stronger business outcomes.
Why financial services should prioritize recognition programs
Recognition is a critical driver of performance, retention, and resilience, especially in high-pressure industries like financial services. With fast-paced environments, demanding expectations, and dispersed teams, organizations in this sector face unique engagement challenges that can’t be solved by compensation alone.
Achievers helps financial services companies meet those challenges head-on — by building a culture where employees feel seen, valued, and motivated to perform at their best. From reducing turnover and burnout to boosting morale and driving consistent business results, Achievers transforms recognition into a strategic advantage.
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