A new report from KPMG UK reveals that 76% of financial services leaders across the UK intend to increase office attendance over the next year.
The survey, which involved 150 senior leaders from sectors including banking, insurance, asset and wealth management, and private equity, highlighted that 37% of those planning for higher attendance expect employees to be in the office at least four days per week.
Financial services firms were among the first to bring staff back into the office post-pandemic, with major investment banks leading the push for a full return. However, more than half of UK financial services leaders (58%) see hybrid working as an opportunity, with 20% identifying it as a significant advantage.
A separate KPMG study on employee preferences in financial services revealed that only 10% of employees prefer to work in the office full-time. Despite varying preferences regarding location, employees across all age groups value the flexibility that hybrid working provides when considering new job opportunities.
Karim Haji (pictured above), global and UK head of financial services at KPMG, commented on the findings, stating that businesses are still navigating the optimal balance for hybrid working, more than two years after the pandemic.
“Leaders see the commercial value of hybrid working models, particularly when it comes to attracting and retaining talent, but they are still expecting greater office attendance in the coming months to retain collaboration with colleagues and clients. Leaders also have to balance regulatory and risk pressures as part of managing hybrid models, which will be a contributing factor for getting staff back into the office,” Haji said.
Haji further emphasised the importance of finding a balance that suits both businesses and their employees, suggesting that doing so would help retain talent and maintain a productive, collaborative culture in the sector.
To monitor office attendance, nearly 45% of financial services leaders plan to use office card swipe systems, while 40% are looking at timesheets, and 29% are considering digital camera installations.
The research, conducted by Opinium on behalf of KPMG, surveyed UK-based financial services professionals at the director level and above between September 17 and 23, 2024.
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