More than two thirds (67%) of financial institution and investment bank employee respondents would consider quitting their jobs in the next year if stress levels do not improve, according to research by MetLife.
Its survey of 104 decision makers at financial institutions and investment banks also found that 70% of respondents believe that admitting to suffering from anxiety or mental health issues will damage their career prospects.
The research also found:
- 18% of respondents feel their organisation has a positive attitude to mental health issues.
- 67% of respondents are provided with resilience training to help them cope with the stress of work.
- 40% of respondents think their job is extremely stressful.
- 81% of respondents have access to health advice, and 88% have access to an employee assistance programme (EAP) that includes counselling.
- 44% of respondents are offered flexible working arrangements.
- 97% of respondents are offered subsidised gym membership as a benefit.
Tom Gaynor (pictured), employee benefits director at MetLife UK said: “Investment banks are, on paper, making a significant commitment to tackling stress and mental health issues among their workforces and it is pleasing to see the investments reported in resilience training and wellness at work initiatives.
“Despite this, a significant taboo still exists, as reflected by the high percentage of employees who said they think that talking about their mental health will damage their career prospects. This latest research infers that, in addition to putting the monetary investment into programmes for employees, investment banks must address employee perceptions that line managers will not be supportive of an employee asking for help.”