The financial sector in the GCC faces rising competition from FinTechs and Neobanks, which emphasise innovative employee experiences (EX) to attract top talent. This shift has highlighted the need for GCC banks to adapt, as younger generations increasingly prioritise purpose, personalisation and well-being.
Improving EX is essential for retaining talent, as organisations with strong EX strategies report lower turnover rates and higher engagement. A robust EX can drive productivity, innovation and digital transformation while enhancing employer branding to compete effectively with tech firms. Moreover, in the context of mergers and acquisitions, EX plays a critical role in reducing employee turnover, maintaining productivity and ensuring cultural alignment. As the competition for talent intensifies, prioritising EX is vital for sustaining growth, innovation and long-term success.
As we conclude this series on the critical role EX has to play, we focus on actionable strategies that organisations can adopt to create meaningful and lasting impact. The previous parts have explored the evolving talent landscape, the increasing expectations of the workforce and the pivotal role EX plays in driving engagement, retention and innovation.
This final part serves as a practical guide, outlining the key pillars of an effective EX strategy and offering advisory insights to help organisations transform these concepts into actionable plans. From workplace flexibility to technology adoption, these pillars are not just trends—they are essential components of a competitive employee value proposition (EVP) that addresses the challenges of today’s talent-driven market.
Our goal is to provide a roadmap that HR leaders, management teams and decision-makers can use to prioritise investments, align initiatives with organisational values and ultimately create an environment where employees feel valued, supported and motivated. With these strategies, financial institutions can not only attract and retain top talent but also set the foundation for sustainable growth and innovation in an increasingly competitive landscape.
Workplace flexibility
In the WTW Global Benefits Attitudes Survey (GBAS), we discovered that 50% of employees would likely leave their jobs if they were required to work onsite and 48% of employees who can work from home would be willing to take a pay cut to do so.
Implementing remote and hybrid work policies, equipping employees with digital collaboration tools and redesign office spaces to promote collaboration are a couple of ways organisations can address this.
Learning and development
According to LinkedIn’s 2023 Workplace Learning Report, 94% of employees say they would stay longer with an employer that invests in their development.
Offer personalised learning paths, partnering with global institutions for upskilling programs and encouraging peer-to-peer learning and mentorship are some suggested approached to addressing the organisations learning and development requirements.
Employee listening
Employee Involvement, Leadership Effectiveness and Change Management all play role in how individuals are aligned to the employee experience but also how engaged they are with making the strategy work. Improving leadership’s ability to managing change has a significant influence on how this then cascades throughout the organisation.
Wellbeing and inclusion
According to the WTW Wellbeing Diagnostic Survey, High performing organisations out-perform their peers in the perception of fair treatment and equal opportunities by an average of 6% pts.
Mental health support programs, Inclusive hiring practices and employee resource groups for under-represented demographics are common in many organisations, although some companies do not either address, or openly discuss their approach.
Recognition and rewards
According to a WTW survey, 75% of employees who feel recognised are more likely to stay with their employer.
Implement real-time recognition platforms, aligning rewards with performance and company values and celebrating milestones and achievements are just some ways to approach rewards and recognition, however there must be clear alignment to the values and goals of this organisation for this to feel genuine.
Technology and tools
GBAS also found that 50% of employees believe that AI will create opportunities to learn skills and 47% of employees are confident that their employer will be able to use AI in an effective way.
Companies can invest in user-friendly HR tech platforms, automate repetitive tasks to free up employee time and Use analytics to measure and improve EX to ensure that they stay on top of employees wants and needs.
Please reach out to any of the team for more information on how your organisation can enhance its employee experience to maintain your competitive advantage!
