Technology and more specifically Fintechs have disrupted the financial sector by offering agility, innovation and compelling employee value propositions (EVPs). With this, they also offer unique employee experiences. According to WTW Global High Performance Normative Data report, more than 92% of employers indicate that enhancing the EX will be a priority over the next three years, while only 52% said enhancing the EX was a priority to their organisation before the pandemic.
92% of employers indicate that enhancing the EX will be a priority over the next three years
This shift in priority reflects the employer’s view that EX drives engagement (81%) and employee wellbeing (80%) as well as productivity (79%) combined with the overall business performance (78%). Hence, it creates value for both employees and the business by winning the key challenge of “talent attraction and retention”. Our database shows that firms do this by providing:
For example, Google’s EVP emphasises autonomy and a growth mindset, which resonates with tech-savvy professionals. Traditional banks in the GCC often struggle to replicate this appeal, largely due to legacy systems, hierarchical structures and a limited focus on EX.
The workforce, particularly Millennials and Gen Z, value purpose, personalisation and well-being. In WTW’s recent EX Trends Survey, we discovered that employees are three times more likely to stay and 1.4 times more engaged at purpose-driven organisations. These younger generations prioritise:
