Business

55% of women in the financial industry have experienced stress in the past year

The CISI survey, conducted this year from May to June, received almost 5,000 responses from members of the professional body around the world, including those in the United Kingdom, the Channel Islands and the Isle of Man, and Asia, but also respondents from Europe, Africa, South, Central and North America and Australasia. CISI members include professionals working in wealth management, financial planning and capital markets.

Of the men who answered the question: “Have you suffered from stress, anxiety or depression in the past year? ”, 39% answered“ Yes ”and 55% answered“ No ”.

Respondents were also asked how safe they would feel talking to their immediate supervisor at work if they felt stressed, anxious or depressed. Of the women surveyed, 52% said they would feel safe, and 59% of the men answered “Safe” to the same question. In 2020, the same question showed “Safe” at 54% for women and 57% for men.

Less face-to-face work

CISI members were asked if they would return to the office for the same number of working days as before the closure. In answering this question, 57% of women and 50% of men answered “No”. For women in 2020, the result was 47%, and for men, 46% said “No”.

In addition, respondents were asked: “When do you expect to return to work in an office environment?” In answering this question, there was little difference between the sexes, with 19% of women versus 18% of men saying they were “back in the office a few days a week,” with 13% of men versus 11. % of women reporting they were ‘back in the office full time’. The option: “I worked in the office during the pandemic” was chosen by 10% of the respondents.

Members were also invited to give their opinion on the state of their industry and choose the one that best suited their business over the past year. Of these options, 46% of women said they “worked more hours” (39% for men) and 38% of men said they worked their hours more flexibly (40% for women).

Additionally, 38% of women versus 30% of men reported that their company is recruiting during the pandemic.

The perfect storm

Simon Culhane, CEO of CISI, said: “With the pandemic, many of us have recognized the benefits of working from home, especially not having to travel. Our survey, however, showed that women in our profession seem to be more stressed and more women worked longer hours than their male colleagues.

“Working from home for women can be a double-edged sword, as many can take on even more household chores and those with children have additional family responsibilities, especially when it comes to educating children to the House.

“Working from home leads to indefinite boundaries between work and life, longer hours and the feeling that some cannot take annual leave, which contributes to an ‘always on’ mentality. These factors could lead to a perfect storm of stressors leading to burnout and overwork. “

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