Which Bank Cares the Most About It’s Employees?
People who work in the investment banking industry receive a very high remuneration. However, they certainly earn their keep. Investment bankers work extremely hard in an environment where pressure is a constant. With such high demands placed on employees every single day, investment banks are continually looking at ways of ensuring their workforce is kept happy. After all, a high salary is not always necessarily enough if someone is dissatisfied with their job.
Competition for jobs within investment banks is fierce, particularly for those who are at the higher echelons of their profession. In order to ensure that they get the very best personnel on their payroll, investment banks have to make sure they are offering the best all-round packages. A large salary is no longer sufficient by itself. Employees have come to expect extra benefits and perks to make their jobs more appealing.
A Wide Range of Benefits on Offer
The range of benefits on offer varies greatly from company to company and can also depend on exactly where a firm is based. Some of the more common perks offered by investment banks to their employees include meal allowances, theatre tickets and discounted gym memberships. This last perk is perhaps the most widespread and is a prime example of how employers in today’s business world care about their employees’ health and welfare.
Indeed, health is one of the main priorities for investment banks when it comes to employee job satisfaction. With the banking industry being such a high-pressure environment to work in, stress amongst the workforce is common. To help alleviate this problem, the majority of investment banks offer a range of health-related benefits. These range from the aforementioned gym memberships to private medical care and subsidised health insurances. At Barclays, employees who cycle to work can have the purchase cost of their bicycle partly reimbursed. Meanwhile, Renaissance Capital have designated every Wednesday as a health day, with fruit being shared amongst the workforce on this day each week.
Interacting with Others
When analysing the rest of the extra benefits and perks which are offered by investment banks, another trend emerges apart from health. That trend is for social interaction amongst employees. Regular get-togethers for drinks outside of the office are a common occurrence, as are corporate dinners. Many investment banks also heavily subsidise Christmas meals and parties. By encouraging social interaction, the banks are looking for strong bonds to form within their teams, which will hopefully lead to a stronger overall performance. With a greater emphasis now placed on employee interaction, anyone looking to get a position within investment banking who has the ability to interact with a range of people is likely to have an advantage.