Author: David Carrol
For organisations across Asset Management and Financial Services, the definition of a "competitive employer" is shifting.
Historically, long hours, office presence and high compensation defined success — particularly in financial services. However, as workforce expectations evolve, these legacy models are being challenged by a new reality: flexibility, personalisation and wellbeing are becoming central to elite talent attraction, retention and performance.
Gallagher's 2025—2026 Workforce Trends Report highlights this shift clearly. Nearly 70% of organisations now offer flexible benefits, up significantly from the previous year. At the same time, improving culture and EVP alignment has become a top strategic priority.1
This represents a redefinition of the employer-employee relationship. The focus is therefore shifting. The conversation is moving away from simply providing benefits and towards how those benefits are experienced, communicated and shaped around individuals. For employers across asset management, the opportunity lies in bridging that gap; turning well funded programmes into genuinely engaging employee experiences.
Performance vs sustainability in financial services
The financial services sector continues to operate within a culture of long working hours and high intensity. Employees in the industry work longer days than most sectors and are more likely to work weekends, reinforcing a persistent "always-on" culture.2 While this has historically driven output, it comes at a cost. High pressure environments are closely linked to burnout, reduced engagement and attrition risk.3
Case study example
A mid-sized asset management firm we supported with around 150 employees found that despite offering above-market salaries, they were experiencing increased turnover at analyst level. Exit feedback consistently pointed not to pay — but to lack of flexibility and unsustainable working patterns.
Following a review, the firm introduced:
- Flexible working policies aligned to team outputs
- Enhanced wellbeing support (including mental health provision)
- A more structured benefits offering
Within 12 months, attrition stabilised and engagement scores improved, demonstrating that culture — not just compensation — is what really drives retention.
Flexibility as a differentiator
Flexibility is now a defining characteristic of competitive employers. For example, flexible working is a key driver of attraction and retention, with over 1 million UK employees leaving roles due to a lack of flexibility. 4.
We're seeing employees increasingly prioritise flexibility over salary in recent years. 2026 Gallagher research confirms this as organisations are actively investing in flexible benefits as part of their EVP. For organisations in financial services, this presents a huge opportunity: rather than resisting change, you can differentiate yourself by modernising outdated work models, and make the shift towards a more flexible approach.
Case study example
One of our specialist markets clients, a growing fintech business with around 80 full time employees wanted to position flexibility at the centre of its EVP. We helped them create:
- A hybrid-first model with autonomy over working hours
- Flexible allowances built into benefits to maximise personalisation and employee choice
- A clear output-based performance management system
This has resulted in much stronger talent attraction compared to their larger competitors — particularly amongst mid-level employees, where flexibility has become a deciding factor for many.
Why leading organisations are prioritising personalisation
While introducing flexibility into working patterns can be an impactful step for improving employee engagement, attraction and retention, it is only part of the wider solution. Increasingly, elite talent in financial services expect a more personalised benefits experience which reflects their individual needs and lifestyle.
Gallagher's 2025-2026 Workforce Trends Report highlights the growing importance of building a benefits offering that meets the needs of an increasingly diverse, multigenerational workforce, is relevant and communicated effectively to all employees, and is aligned to your company's culture.
Organisations, particularly in financial services, are beginning to realise that a static benefits package simply cannot meet the needs of a diverse workforce. As a result, we are seeing more demand among clients for solutions which put choice, flexibility and personalisation at their core. These include flexible benefits technology platforms which allow employees to access all their benefits in one portal, modular benefit design, and overall greater focus on the employee benefits digital experience and journey.
Case study example
One of our clients, a life sciences firm with around 250 full time employees wanted to move away from their standardised benefits structure to a more flexible approach which aligned to their company values and EVP. We worked with them to introduce a series of flexible benefits, including:
- Optional health upgrades
- Customisable risk benefits
- Lifestyle allowances
These seemingly small tweaks to their benefits offering led to increased benefits engagement, improved value perception of their total rewards package by employees and a more effective use of employer spend.
When benefits feel personal and carefully curated rather than transactional, employers can drive meaningful differentiation in the market.
The link to wellbeing and performance
There is a strong connection between positive employee wellbeing and increased performance. New research has made this link measurable. For example, 44% of employees report high stress levels globally, highlighting ongoing challenges.6
Meanwhile, Research from Gallagher shows:
- Improvements in employee wellbeing can drive around a 10% increase in productivity
- Organisations with higher wellbeing see stronger performance, retention and customer outcomes5
Gallagher's findings reinforce that organisations are moving towards a more holistic approach to wellbeing, covering physical, emotional, financial and social elements with the impacts of this stretching beyond increased employee wellbeing and happiness to increased productivity and even business performance.1
What this means for employers
For organisations in asset management and financial services, the implications are clear. In order to stay attractive in a highly competitive talent market, you need to adapt. Adopting a more flexible, personalised approach to your benefits strategy should be a top priority. Here's a recap of what we recommend:
1. Embed flexibility into culture
Flexibility should be visible in the day-to-day employee experience and reinforced by leadership behaviours, team level autonomy and clear communication. When employees feel trusted to manage how and where they work, they're more likely to feel engaged, productive and committed to the organisation. Leading organisations treat flexibility as part of their culture.
2. Invest in wellbeing as a strategy
Wellbeing should be embedded throughout the entire employee experience rather than a collection of standalone activities. This means considering wellbeing within benefit design, your culture and leadership, and ongoing employee support. Organisations that take a strategic approach to wellbeing are often better placed to address issues like stress, burnout and financial pressure, while creating a more resilient and productive workforce.
3. Personalise the benefits experience
Employee expectations are increasingly shaped by personalised consumer experiences. Benefits strategies should reflect this by offering greater choice, flexibility and relevance across different life stages and employee needs. A data-led approach can help you understand what matters most to your workforce and focus investment where it will have the greatest impact on engagement, utilisation and perceived value.
4. Challenge industry norms
Asset management and financial services have traditionally relied on established ways of working, but employee expectations are evolving. Employers that challenge assumptions around where work happens, how careers develop and what employees value are more likely to create a differentiated employee experience. The organisations attracting the strongest talent are increasingly those that focus less on what has always been done, and more on what their workforce needs now and in the future.
