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Stricter attendance policies and rising commuting costs are becoming significant retention risks for the UK finance sector, according to new industry research.
A report by recruitment specialist Morgan McKinley has found that 57% of employees in accounting, banking, and financial services are more likely to leave their roles due to in-office requirements.
The report revealed that 69% of the workforce now requires higher salaries specifically to offset the financial burden of commuting.
The research suggested that the current dominant model of a three-day office week is causing increased levels of workplace stress.
Approximately 67% of respondents reported higher levels of burnout linked to office attendance.
The impact is disproportionately affecting female professionals, with 74% reporting increased stress compared with 55% of their male counterparts.
The data comes as 77% of employers in the sector report difficulties in hiring skilled talent.
Flexible working remains a priority for jobseekers, with 62% of candidates stating they have rejected roles that do not offer hybrid options.
Furthermore, 28% of firms have seen an increase in resignations directly linked to their return-to-office policies.
Differences in productivity and caregiving responsibilities were also highlighted as key drivers for dissatisfaction.
While 49% of women in the sector report caregiving duties, 61% stated they felt less productive when working from the office.
Currently, 66% of all finance professionals rank flexible hours as the most valued employee benefit.
Seb O’Connell, CEO of Org Group (Morgan McKinley), said: “The return to office debate in the UK financial services sector has moved beyond simple attendance level but about whether workplace policies are supporting firms to attract and retain talent, or actively working against that goal.
“Employees still value time in the office for collaboration and development, but they are also clear about the trade-offs, particularly around commuting costs, flexibility and wellbeing. The firms that get this right will be better placed to compete for scarce talent.”
