A Better Place to Work: What Employers Need to Get Right in 2026
Across the financial services market, talent is not as readily available as it once was, and that shift is changing how businesses think about their teams. The organisations that are consistently able to attract and retain strong people are usually the ones that are clear and credible in how they present themselves as employers. When employees feel supported, they are more likely to stay.
Over time, that stability shapes how clients experience the business, often leading to stronger relationships, greater continuity, and a more settled team dynamic.
Understanding the Shift in Employee Expectations
The environment employees are operating in has changed in recent years, with the cost of everyday essentials rising, particularly in housing, food, education and transport, alongside an underlying level of uncertainty.
With that in mind, many people are feeling a degree of financial pressure that inevitably influences how they view their role and their employer. What they’re looking for is not overly complicated, but it’s more defined than it may have been previously:
- A level of financial stability they can rely on
- Clear expectations around how and where work happens
- A sense of connection within their team, not just to the role itself
Key Workforce Statistics and Hiring Trends
61% of employees report financial strain, and 41% of workers believe their compensation is not keeping pace with rising costs
Replacing a professional-level employee is estimated to cost around $168,000 when factoring in productivity and client impact
87% of Australians prioritise flexible working, while 66% value work-life balance as much as salary
National job mobility sits at 7.7%, with 46,100 people changing roles within Financial & Insurance Services
Employees lose close to 7 hours per week due to financial stress, despite widespread access to benefits
Hybrid Working Arrangements
Beyond flexibility, hybrid work arrangements can ease day-to-day pressures by reducing time and cost associated with commuting, childcare, and general living expenses. This is increasingly factoring into how candidates assess opportunities and compare roles.
What Are “People Practices”?
People practices are the ways in which a business attracts, supports, and develops its people over the course of their time with the organisation. In most businesses, that usually comes down to how well people are onboarded and how their contribution is recognised and rewarded over time. It’s the cumulative effect of those decisions, from initial conversations through to progression and eventual exit, that shapes how a business is perceived.
Key Workforce Statistics and Hiring Trends
- 61% of employees report financial strain, and 41% of workers believe their compensation is not keeping pace with rising costs
- 87% of Australians prioritise flexible working, while 66% value work-life balance as much as salary
- National job mobility sits at 7.7%, with 46,100 people changing roles within Financial & Insurance Services
- Replacing a professional-level employee is estimated to cost around $168,000 when factoring in productivity and client impact
- Employees lose close to 7 hours per week due to financial stress, despite widespread access to benefits
The Five Things Employees Value Most in 2026
Work-Life Balance and Flexibility
Fair Pay and Security
Strong Leadership
Recognition and Wellbeing
Growth and Development
Our Approach to Building a Strong Employee Experience
A strong employee experience is rarely the result of a single initiative. More often, it reflects a series of considered decisions that influence how people engage with the business over time.
Manager Capability
Because day-to-day experience is shaped at this level, investing in manager training has a direct impact on engagement and retention.
Employee Value Proposition (EVP)
Revisiting and clearly articulating what you offer helps align expectations from the outset.
Structured Flexibility
Defined hybrid or team-based arrangements provide more consistency than informal approaches.
Recognition
Small, thoughtful gestures delivered consistently often have a stronger impact than occasional larger ones.
Learning and Mobility Pathways
Making progression visible helps employees see a future within the business.
At Godfrey Group, these are the areas we see having the greatest impact when speaking with both employers and candidates.
The Future of Work in Financial Services
As expectations continue to shift, the businesses that remain competitive are those that take a more deliberate approach to how they support and develop their people. That doesn’t necessarily mean doing more, but it does mean being clearer and more consistent. Over time, that consistency builds both internal alignment and external credibility, which ultimately plays a role in attracting and retaining the right people.
Strengthen Your Hiring Strategy With Godfrey Group
At Godfrey Group, we’ve spent more than 20 years working closely with employers and candidates across wealth management, financial advice, funds management and the broader financial services sector. That depth of experience gives us a clear view of how expectations are changing, and where businesses are seeing the most success when it comes to securing new talent.
If you’re reviewing your approach to hiring or thinking about how your business is positioned in the market, we’re always available for a conversation. Connect with us on 02 8004 9350 or enquire online today.
We provide specialist financial sector insights, as well as an extensive network of industry professionals.
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