Report: 69% of fintech employees say they would move jobs for access to more advanced tech

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In the midst of the “great resignation”, companies across industries are facing a shortage of talent and are learning that pizza parties and casual Fridays are not enough to recruit and retain employees. As the work becomes more and more hybrid, employees demand the tools needed to succeed – and they are not afraid to leave if employers do not deliver. In fact, new research from Samsung Electronics America found that 69% of employees in financial services and banking will switch companies to better mobile technology that enables them to be more efficient in their jobs.

This means that a given location is no longer a restrictive factor for many employees. They want flexibility to do their job from anywhere, with the majority (54%) saying they want to continue telework once the epidemic subsides. But navigating the new world of hybrid work can be challenging – especially in relationship-focused industries such as financial services and banking.

In addition to the need for better mobile tech employees, the report also sheds light on the industry’s biggest security risks. Data security is a concern for every industry, but ransomware attacks target finance more than any other. One major obstacle to improving security is the perception gap between IT managers and employees: while 63% of IT managers worry about the security of company and customer data while employees work outside the office, only 6% of employees are concerned. To reduce risks, companies need to step up efforts to improve employee safety literacy.

Pie chart.  69% of employees will switch companies to tech which helps them become more effective in their jobs.

Second, infrastructure must be prioritized to enable new ways of working. Employees and IT decision makers have naturally different priorities, but what they share is the need to build a strong tech ecosystem, with 86% of employees and 93% of IT managers agreeing that their organizations need to improve tech infrastructure over the next five years. is needed. For financial companies to compete in the future of work, they must support mobile tech that enables in-depth personal connections and provides world-class security.

To develop this report, Samsung surveyed 500 IT decision makers and 500 employees of financial services and banking institutions across the U.S.

Read the full report by Samsung.

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