As office attendance policies tighten across financial services, Morgan McKinley said more employees are reconsidering whether to stay in their roles. Its latest research found that 69% of workers need higher pay to cover commuting costs, while 57% said in-office requirements are making them more likely to leave.
The findings come from From Hybrid to HQ: The Impact of Return to Office in Financial Services on the UK, a report based on professionals across accounting, financial services, and banking. According to the study, 67% said office attendance had increased stress or burnout, while 77% of employers said they were already finding it difficult to hire skilled professionals. At the same time, the three-day office week has become the dominant model, cited by 35% of employees.
Both sides expect that pattern to persist. Morgan McKinley said 73% of employees and 78% of employers anticipate no change in office requirements over the next year, even as the pressure associated with attendance continues to build. Hybrid working and flexible hours remain among the most valued benefits, selected by 66% of respondents, while 62% of jobseekers said they had rejected roles that did not offer flexibility.
Women reported sharper strain than men across several measures. Only 54% of female respondents said they were satisfied with current office expectations, compared with 66% of male respondents. Some 74% of women said attendance had increased stress and burnout, against 55% of men, while 61% of women reported lower productivity in the office compared with 54% of men. Morgan McKinley also noted that 49% of female respondents reported caregiving responsibilities, compared with 41% of male respondents.
Hiring data is already reflecting those tensions. The research found that 43% of employers had seen recruitment challenges increase, while 28% reported a rise in resignations. In a sector that depends on specialist skills and already faces a competitive labour market, attendance policy is now sitting alongside pay and progression as a core retention issue.
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. Our data shows 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. For UK employers, the challenge is increasingly about balance. The firms that get this right will be better placed to compete for scarce talent in a market where expectations have fundamentally shifted.”
The full report is available here.
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