Industry Surveys
Hybrid Working Increases Financial Sector Burnout – Survey

A new study by LemonEdge examines the impact that working from home and hybrid working has had on professionals in financial and banking services.
A new study by LemonEdge, a digital
accountancy platform for the private capital and venture capital
industry, shows that a third of financial services and banking
professionals have suffered from higher levels of burnout when
working from home and hybrid working.
Some workers nevertheless experienced positive benefits from
hybrid working, and even decreased levels of burnout, the study,
which covered 300 UK-based workers this April, found. It looked
into the impact that working from home and hybrid working has had
on professionals in financial and banking services in the
post-pandemic era.
Over one in three workers claimed that the main cause of burnout
was from increased workloads imposed upon employees. This was
followed by increased work demands (36 per cent), longer working
hours (34 per cent), and tech challenges (32 per cent), the study
found.
Nearly a quarter of financial services workers are concerned
about their health or mental health. To reduce burnout in the
hybrid working model, workers called for reduced workloads (33
per cent), time off work (27 per cent), more support from
management (25 per cent), and faster, more efficient technology
(23 per cent).
“The risk of burnout to employers is huge,” Gareth Hewitt,
co-founder and chief executive officer at LemonEdge,
said. With one in four (23 per cent) asking for faster or
improved technology to eliminate manual processes, firms need to
look at their approaches to improve the lives of their staff. In
this day and age, technology, not only can but should, provide
the automation and flexibility that can contribute to reduced
stress, reduced working hours, and lower risk of burnout.”
LemonEdge is a low-code development platform for the complex
accounting demands of the private equity and wider financial
services industry.