eFinancialCareers

Forget cash, it’s the right corporate culture that Scottish financial services employees want.

In contrast to their money-hungry counterparts south of the border, 88% of financial services workers in Scotland rate an organisation’s culture as more important than remuneration, according to a survey by recruiters Badenoch & Clark.

Margaret Hare, recruitment consultant at Qualitas in Scotland, says: “I would say that we have seen a move towards candidates looking towards the more prestigious institutions to further their career, and salary isn’t everything. Increasingly, one of the main concerns is the company’s corporate governance stance – people now care more about environmental issues.”

By comparison, London bankers place a much higher emphasis on the financial aspects of their package: 69% said money was important to them. And there are signs they’ve got their priorities right; 77% of London-based survey respondents said they were happy in their work, compared to only 33% of Edinburgh’s cultural zealots.

Edinburgh employers might do a little better if they start thinking a bit more flexibly about working practices. “There is a notable mismatch between what employees find attractive and what employers are offering,” says Neil Wilson, managing director of Badenoch & Clark. “Flexible working hours are one of the biggest incentives, according to employees, yet only 55% of financial services currently offer it.”

For the moment, the Scottish capital still has problems attracting the right talent, with half of the 250 companies questioned saying they find it difficult to recruit staff.