Firms Need to Change Trading Workplace Policies: Report

A survey-backed report, Life Beyond the Desk: Trading Employee Workplace Experience, published by Sustainable Trading, calls for organisations in the financial world to “re-evaluate their workplace practices”, particularly in areas such as health, flexibility and career development in the trading business.

Although the focus of the report is working conditions within institutions, without being prompted, 35% of the 270 current and former trading professionals (97% of respondents were current) surveyed, referenced the need for reduced market hours – something that is, naturally, outside the control of their firm, especially in FX, which operates around the clock. The primary reason behind the desire for shorter market hours is the negative impact of long working hours.

On their direct working conditions, 21% of respondents either “strongly” or “somewhat” disagreed with the statement that their roles allowed them to be healthy. It should be noted that 26% of respondents “strongly agreed” with that statement, and 36% “somewhat agreed”. Additionally, the impact on mental health was often correlated with stress and employees not having enough time to prioritise themselves due to their job needing to come before their personal wellbeing. The report notes that out of all open-ended answers for the employee wellbeing section, 31% referenced explicitly their physical or mental health being impacted by their role with unique issues.

A theme of our Human FX series, with Martina Doherty, has been management style, and the Sustainable Trading report reinforces the idea that this is vital, although 80% were positive about their environment, stating that, and again these are themes in the Human FX series, they were being heard, had access to management and good communication, and felt part of the strategy. Those that felt they were not well managed, highlighted, management not being adaptive, stigmas towards employees’ challenges and overworking.

On work flexibility, Sustainable Trading says that investment managers are more likely to offer hybrid working, and exchanges flexible working. Conversely, banks and broker dealers were the least likely to offer either. Within this, 65% said they had the ability to leave the desk.

Employee support programmes were highly praised and valued, Sustainable Trading says, especially mentorship programmes, with 38% of women and 25% of men engaging in these initiatives. There is, it adds however, a call for more effective diversity and inclusion initiatives, with 14% of respondents citing this when answering what they would improve about the industry.

The report also highlights the demographic trends in how employees enter and exit roles in the industry. Over 20 years ago, internal transfers were the most common entry route, while in the past 10 years, open online applications and internships have taken precedence.

When it comes to leaving roles, 40% of female respondents had left a job in the last five years, compared to 21% of all male respondents. Lack of career progression was the top reason for both genders, with 51% citing it as the cause. However, female respondents were four times more likely than men to leave a role due to company culture.

“Understanding emerging trends is key for the industry’s evolution,” observes Duncan Higgins, CEO of Sustainable Trading. “To stay competitive and attract top talent, we must come together to explore these findings and collectively develop initiatives that align with evolving workforce expectations. It’s time to reassess traditional practices and implement changes that support both employee wellbeing and industry growth.”

Chris McConville, global head of execution services and trading, Kepler Cheuvreux, a member of Sustainable Trading, adds, “This excellent research highlights the many positive experiences within the industry, offering valuable insights from around the globe. While it’s encouraging to celebrate these successes, there is still significant work ahead to enhance our industry. We must ensure that our practices align with their expectations to attract and retain the very best talent. Collaboration across the industry is essential to create a more sustainable and inclusive working environment for everyone.”