The financial industry is in a battle for talent, not only internally but externally. While it’s normal for competing financial organizations to vie for a talented candidate, the industry as a whole is struggling somewhat to find top talent.
Up and coming talent, who may have chosen finance or accounting in the past, are choosing technology-based careers instead. So, when you find a top talent, it’s vital you build employee loyalty so you can keep talent in-house.
How to Build Employee Loyalty in a Talent Strapped Finance Industry
Investing in a loyalty program is a key factor to get people to stay. It will also help with recruiting new talent. If you want people to stay, you need to create a great work environment. Here are a number of ways you can build a loyal team of finance professionals:
Show Them How They Will Grow with the Organization
People won’t stay if there is no light at the end of the tunnel. Take the time to understand where your employees want to be in the next 5 to 10 years and help them get there. Make it clear where their career path can take them.
Give Them Opportunities to Contribute
Why keep top talent in your organization if you are not going to give them the chance to contribute? Provide people with the opportunity to voice their opinions, get involved in larger discussions happening internally, and find new ways to get people to contribute.
Let Them Do What They Do Best
People don’t always fit perfectly into a compartmentalized role. If you identify a special skill or talent in an employee, find a way to use it. Let people do what they do best, even if it means giving people new responsibilities or even creating a new position to allow an employee to thrive.
Remember, Loyalty Breeds Loyalty
If you don’t show you are loyal to your employees, you can’t expect it in return. Top talent have options and they know it.
More Finance and Accounting Career Advice
Looking to attract financial talent? Are you a finance professional looking to make a career move? We have lots of great tips and advice. Check out some of our latest posts by our accounting and finance recruiters:
3 Summer Job Search Tips for Finance Professionals
The Impact of Fintech on the Finance Industry
The Biggest Concern in the Finance and Banking Industry – Talent!
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