Being a supportive employer in 2025
Recruitment firm people2people has shared how employers can help their staff thrive in 2025 as well as how to attract new hires.
In recent years, there has been a growing trend for financial advisers looking to leave large licensees and set up their own practices, with all the staff management, recruitment and practice management that entails.
Research by BT found staff retention and recruitment are some of the top priorities of the financial planning industry, cited in a survey by 56 per cent and 76 per cent of respondents, respectively.
The ‘magic number’ of advice practice staff has previously been identified as four to six advisers to achieve maximum efficiency and greater work/life balance.
At the start of a new year, the recruitment firm has shared 10 recommendations to help firms to get off on the front foot. The firm’s recommendations ranged from flexible working to internal promotions and celebrating staff achievements.
Catherine Kennedy, NSW managing director at the firm, said: “The trends we observed in 2024 – rising stress levels, financial anxieties, and changing workplace expectations – are still highly relevant as we approach 2025. Employers and job seekers alike must adapt to these shifts by embracing new strategies and leveraging opportunities to create a thriving workforce.
“The 2025 workforce expects more from employers – better pay, robust mental health support, and meaningful development opportunities. Addressing these needs not only attracts top talent but also builds a resilient, engaged workforce ready to navigate future challenges.”
The 10 recommendations are:
- Prioritise employee wellbeing through regular check-ins and access to wellbeing resources.
- Keep pay competitive with regular salary reviews and market benchmarking.
- Offer flexibility that works for everyone.
- Encourage staff to take time off and support them to disconnect from work.
- Invest in upskilling programs such as on-demand training and skills workshop to keep staff engaged.
- Adopt data-driven hiring practices via analytics and artificial intelligence to reduce bias and streamline recruitment processes.
- Focus on inclusivity with diverse teams to boost engagement.
- Reassess job roles to meet the changing needs of the organisation and clearly communicate changes to employees.
- Promote internal mobility and growth through the organisation through mentoring, promotions and cross-department hiring.
- Celebrate achievements of staff to foster a positive workplace culture.
At the end of 2024, the Financial Advice Association Australia (FAAA) surveyed its membership and said there are five channels that members are using successfully in their recruitment.
These are existing networks, word of mouth, profession-specific forums, the FAAA careers board, and education providers.
AUTHOR
Laura Dew
Recommended for you
Iress has announced it will divest its superannuation business as the latest step in its transformation program, allowing it to focus on wealth management.
The corporate regulator has named its new chief executive, who is set to replace retiring interim CEO Greg Yanco in March.
Following the departure of its chief marketing officer last year, AMP has appointed a successor to take up the position with the appointment coming from the US.
The Financial Services Council has appointed Justine Earl-Smith as executive director for commercial partnerships and growth, a newly created role for the organisation.
