​We often get asked by clients what makes an engaging workplace. One that retains current employees and attracts new talent. So we read with interest the 2024 eFinancialCareers Ideal Employer report. This report is based upon the results to their Ideal Employer survey, which had 8000 respondents globally. So, a pretty informative data set we thought. The winner of the Best Employer in the Financial Services sector went to JP Morgan. What was both interesting, and very impressive for a business of their size, was the consistency of high performance across so many of the categories, leading in every single major jurisdiction - including Ideal Employer in the UK and also Europe, across every ethnic grouping, and across every gender identity. Every single age category selected JP Morgan as both its first and second-choice employer. Impressive, right? Some key areas the business led in and the initiatives we took from the survey as to why they scored so well are listed below:

Competitive Compensation and Benefits: JP Morgan is renowned for offering attractive salaries and comprehensive benefits packages. This commitment to rewarding its employees has been a significant factor in its appeal to finance professionals.

Career Development Opportunities: The firm places a strong emphasis on providing challenging and interesting work, along with clear pathways for promotion. This focus on professional growth has been instrumental in attracting ambitious individuals seeking long-term career progression.

Positive Organisational Culture: JP Morgans respondents cited a supportive and inclusive work environment, which has been highlighted as a key strength in various surveys. Employees value the firm's positive culture and strong executive leadership, contributing to high levels of job satisfaction. Specifics category wins and related initiatives in these include:

The Ideal Employers for Women:

Runs the “Women of the Move” program which states its missions to “help create a more equitable workforce that enables women to achieve financial well-being, grow their skills and advance their careers”.

The Ideal Employers for Black People and People of Colour:

Runs 7 centres of excellence which include Advancing Black Pathways which has a mandate to “strengthen the economic foundation of Black communities”

Ideal Employers for Young People:

People liked how interesting JPMorgan’s work was, as well as its long-term career prospects and perceived integrity.

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Financial Performance and Stability: The bank's robust financial performance, including leading global investment banking revenues, provides employees with a sense of security and confidence in the firm's future. This stability is a compelling factor for professionals in the financial sector.

Adaptability and Workforce Management: Unlike some of its peers, JP Morgan has avoided massive layoffs, instead expanding its workforce within the corporate and investment bank division, particularly in front office roles and technology staffing. This strategic approach to talent management has been key in maintaining the bank's competitive edge and appealing work environment.

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Whilst JP Morgan undoubtedly performed well in a variety of sectors, no company is perfect - for example they scored lower on work life balance from some respondents. However this report gives a useful insight into some measures that companies are taking to be an attractive employer, and to retain staff.

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Source: eFinancialcareers