In only a few months this global pandemic has changed our lives in ways we could not have seen or imagined before. The financial services industry is playing a pivotal role in supporting businesses and citizens to weather the storm through the crisis. It is critical that banks maintain service continuity, while accommodating stay-at-home orders and physical distancing for their workers. It is challenging.  

Prior to March 2020, financial organisations knew that digital transformation was critical to delivering a better customer experience and operational efficiencies, with many initiatives already underway. However, there was not the urgency that there is now. Post-March 2020, customers will be looking to run their financial life through apps and online banking. These applications will be developed and supported by employees and contractors working from home. In fact, most financial service sector employees at the present time are now working from home.

These seismic shifts precipitated by the current situation are unlikely to reverse any time soon. Given that employees working from home is the new normal, how does the financial service industry ensure its workers are productive and engaged?

In February 2020, pre-pandemic, Citrix surveyed managers and employees across all sectors in the UK to understand the relationship between the employee experience and productivity.[i]

The research revealed 47 per cent of managers in financial services believe their organisation is working at maximum productivity compared to only 27 per cent of employees.

The research also explored the generational perspectives on whether managers believe flexible working boosts productivity. Interestingly 56 per cent of 25-34-year olds and 57 per cent of 35-44-year olds believe that increasing employee flexibility has a ?major impact? on boosting staff productivity, while only 22 per cent of managers aged over 55 agree. Greater workplace flexibility will prove crucial in attracting young talent, which is becoming increasingly important as competition for skills intensifies.

As market leaders in secure, remote working, Citrix is taking the following approach with our financial services customers to improve employee experience and productivity during the pandemic.

Step 1: Focus on employee experience and maintain productivity

Quickly and securely enable a remote workforce but make sure the remote work experience is as seamless and adaptable as the in-office experience. Scale IT infrastructure during heightened demand and take a zero-trust security approach.

Step 2: Stabilise and strengthen the remote working experience

Deliver secure access to all the apps and data. Employees need to be engaged and productive using any device, in any location, while ensuring security and controlling IT needs.

Step 3: Identify opportunities to innovate and boost productivity

Focus on how work gets done and innovate. Understand how core systems are used by employees and simplify the employee experience by automating mundane tasks, presenting frequently used apps and data and removing multiple log-ins. These simple changes can boost productivity and save your workforce hours each week.

Now is the time to reimagine the fundamentals of how we work, how to become a better employer and how we improve productivity in very difficult times. Citrix will be publishing the results of a new survey to find out how attitudes to flexible working and productivity has changed during this crisis. We will be discussing these results and employee engagement in the back to office era in our next webinar. Register here for interest.