Gen Z talent are more likely to put D&I at the forefront of their job search, with 76% of this age group rating it as a key factor in their choice of organisation
Some 64% of UK finance professionals have rated diversity and inclusivity as a key factor when choosing an organisation to work for, according to ACCA’s latest annual Global Talent Trends Survey.
While diversity and inclusion (D&I) strategies are nothing new, ACCA has found that they have risen in importance amongst financial talent when it comes to choosing a place to work. This has put the pressure on employers to deliver D&I policies in order to attract and retain the best talent.
According to the survey, Gen Z talent are more likely to put D&I at the forefront of their job search, with 76% of this age group rating it as a key factor in their choice of organisation.
ACCA’s research has been backed up by other studies, which also showed that Gen Z is “more principled” than their older counterparts, as working in a diverse and inclusive environment matters more to them than salary.
However, with an ongoing cost-of-living crisis, some 50% of UK finance professionals are planning to ask for a pay rise within the next 12 months, while a further 49% believe that the best way to secure a pay rise is to leave their current organisation.
In addition, with 54% of finance professionals expecting their next career move to be external to their current organisation, ACCA has urged employers to embrace this insight and take steps to retain talent.
Without the shoring up of other workplace factors like diversity and inclusion, hybrid working models and mental health support, ACCA believes there is a real risk that employers could face a move of half of their current workforce in the next 12 months.
Gemma Gathercole, strategic engagement lead for England at ACCA, said: “The latest Global Talent Trends report shed interesting light on the situation around the world and at home here in the UK.
“While the UK is outperforming in some areas such as offering hybrid working and mental health support, it’s clear that D&I policy is a growing factor of importance for finance professionals.”
She added: “Equally important is skills and training. Finding ways to support employers in implementing effective D&I strategies, attracting and retaining diverse talent, and remaining competitive from a salary and job opportunities perspective is something ACCA will continue to support members with through education and policy outreach.”
Corina Duma writes in Accountancy Today