If you’re looking to grow as an independent Financial Advisor, you need to make sure you’re in a workplace environment (even if it is virtual) that helps you do your best work. Contrary to popular belief, job satisfaction comes from more than just salary.
At Idex Consulting, we’ve helped thousands of Financial Advisors find their perfect workplace, and have a deep understanding of what makes them happy. This is why we wrote a range of 2021 UK Salary Guides for a range for financial services. To help you feel at home and grow as a professional, our Managing Director, Tony Bates has given his tips on what makes the perfect workplace.
Fair rewards and remuneration
Companies that use bonus systems ensure advisors are rewarded for their hard work, and have a real impact on your self-esteem and day-to-day life. This was echoed in by our Managing Director, Tony Bates who said:
“Many forward-thinking employers see this as a permanent feature and are adapting their remuneration packages to include flexible working environments, flexible hours, enhanced bonus schemes and fast-tracked career progression.”
The right company culture
According to our UK financial services salary guide, 45% of independent financial advisers said that company culture was more important than salary. Considering you spend more time with the people you work with (even virtually) than you do with your family and friends, it makes sense that people want to work for a company that they believe in.
The culture of the business you work for will set the bar on how you’re expected to behave and handle high-pressure situations. With the right company culture, you can make better decisions, and break down siloed teams which inevitably helps you work smarter rather than harder.
Having your needs met
If the last year has taught industries across the world anything, it is that we all do a much better job when we’re given flexible working hours so that we can tend to other responsibilities. In fact, our 2021 UK financial services salary guide had shown that 53% of employees said they would move jobs if asked to work from an office 5 days a week.
For example, many of us were tasked with homeschooling our children whilst juggling a 9-to-5 at the kitchen table after the country went into lockdown. When business leaders changed procedures to include things like flexible working hours or amending KPIs to help their teams adapt to the changing environments, many of us felt the pressure ease and our productivity and overall happiness increase as a result.
A 2021 study byCIPDfurther reinforces this, stating that flexible working hours are also hugely beneficial for employers.
They said,“Research shows that flexible workers have a higher level of job satisfaction, commitment and are more likely to increase discretionary effort compared to those who do not work flexibly..”
Transferring office benefits to working from home benefits
When employers put benefits, processes and practices in place to look after you during lockdown, it shows they really care about your wellbeing. Before coronavirus changed the world, it was easy to reward a team by taking them to the pub on a Friday afternoon, throwing bi-annual office parties or installing a pool table in the break-out room.
However, these benefits are difficult to do when the team isn’t in one centralised space. If employers want their teams to feel valued, they should try to ensure these benefits can be transferred if you’re working from home or hybrid working.
For example, investing in a good quality desk and chair set up in your home, so that you can comfortably work at home, rather than get a bad back from the kitchen table or sofa. Part subsidising a better internet connection is not only a good way employers can show that they value you, but an assurance that you can thrive and conduct business with clients professionally on a solid connection. Employers might could also invest in virtual team-building events and activities, such as online murder mystery events or collaborative games on Steam.
Lifelong learning, wherever, whenever
Building lifelong skills and development is a crucial part of every IFA’s career progression. If employers offer a proper career development plan and access to eLearning and online training platforms, this is a strong sign that they want to support you in your career.
Before coronavirus, it was common for face-to-face training to take place over a few days, but with workforces spread out across the UK, it can be difficult to create a continuous training platform that will help IFAs take their knowledge and skills to the next level.
Online training, mLearning and eLearning enable Financial Advisors to learn and train on a range of devices wherever you are, whenever. Offering lifelong learning is a great way to grow your career and keep up with market changes.
With over 75 years’ worth of combined experience, our team of expert Financial Consultants possess unrivalled knowledge when it comes to helping Financial Advisors succeed, whether they’re in Financial Planning, Employee Benefits, Investment Management, Compliance, Paraplanning and Senior Appointments. If you’re looking to drive the growth of your business, get in touch today.