If only working in financial services was like The Wolf of Wall Street…
If only working in financial services was like The Wolf of Wall Street…
…actually, no.
We may have been sold that Hollywood version of working in finance, one that’s slowly spread onto socials (hello, ‘Finance Bros’ and the ‘looking for a man in finance’ trends); however, the reality isn’t as full of car chases and questionable legalities as Leonardo DiCaprio may have led us to believe.
Instead, many feel unheard, overworked and unsure of their career growth prospects.
Ironically, this is making a career in finance not very financially (or mentally) stable in the long term.
That’s why the industry needs an appraisal overhaul. It needs to forget the numbers, the spreadsheets, the bottom line and instead, remember the people who make it all possible.
By addressing what irks their team members with an updated recognition strategy, financial services can:
In this post, we’ll explore why financial services in particular have a recognition problem, why it’s important to celebrate success (whatever your industry), and 10 ways financial service firms can improve their recognition strategy.
Research shows that promotional merch boosts employees’ feelings towards their company by 60%, and their feelings of belonging by 73% - making merch a great way to say a big thanks to your team.
Browse our full range of promotional products now to find your employee’s next favourite branded gift.
Finance firms may be posting record profits, but frontline staff are burnt out, underpaid and rarely recognised for their efforts. And even when recognition programmes do exist, they feel hollow.
In an industry whose culture is obsessed with big wins, the individuals are the ones missing out.
That’s why it’s time for the sector to move away from only celebrating the big quarterly achievements to a ‘little-but-often’ appraisal strategy.
Because to keep a continuously happy and healthy workforce, you can’t just praise once and be done.
Eating one apple a year doesn’t make you healthy.
Let’s just say, if you work in finance, we hope your therapist is kind to you.
Unite members working across banks, insurance companies and outsourced financial services have reported that working in finance (at the moment) isn’t great.
With:
It’s not the most positive industry to have a career in at the moment.
Recent research also reveals just how far recognition initiatives are falling short:
All of which are bad for retention, wellbeing, and overall business performance.
Sharon Graham, Unite general secretary
All industries need to celebrate their team’s successes. However, financial services seem to struggle more than others to do so - and there are a few reasons for this:
In the first quarter of 2026, they generated almost £14 billion in profits.
And yet, according to Unite, many finance workers continue to face below-inflation pay rises, growing workloads, widening inequalities and pressure on living standards.
There’s a massive financial gap between the companies themselves and those that work for those companies - creating tensions and frustrations.
Sharon Graham, Unite general secretary
More than half (53%) of finance workers say the recognition they receive feels like an empty gesture, and 77% say recognition at their organisation is inauthentic.
This makes these recognition strategies a failure on two counts because:
Have you ever heard of a recognition strategy that makes people feel sad? No, didn’t think so.
Only 29% of financial services employees feel a strong sense of belonging at work, and just 35% feel part of a genuinely inclusive team.
Open praise of good work brings people together to celebrate the positive announcement - without a solid recognition plan in place, teams feel disjointed and disconnected.
According to KPMG's 2025 UK Financial Services Sentiment Survey, 1 in 4 (26%) Gen Z employees have left their financial services employer in the past year, and nearly half (49%) of FS leaders say Gen Z turnover has increased compared to five years ago.
This has therefore led to a very top-heavy industry with a perceived alienation of new starters.
Financial services is, understandably, full of strict compliance requirements that can limit a team member’s autonomy and creativity, making roles feel rigid and micromanaged - something no one wants.
In many financial institutions, progression paths are unclear, and feedback is infrequent.
With no career development plan in place, employees often feel undervalued and demoralised.
Frustratingly, even when good benefits exist, employees often don't know about them because they aren’t communicated effectively.
Catherine Bennett, General Manager of Engage at The Access Group
What keeps you motivated at work?
By having a recognition strategy in place, your team will know when they’re doing a good job, which is one of the key factors for improving overall role motivation.
But it needs to be continuous.
And don't wait until the end of the quarter to praise someone - immediate recognition is the best sort of recognition.
This leads to better performance, productivity and quality of work, and, in turn, long-term business success.
According to an Eagle Hill Consulting survey, 70% of workers say work experience affects their mood, and 69% say it affects their ability to serve customers.
By recognising the hard work of your employees, you’ll improve their mood and, therefore, their engagement and productivity.
If employees feel their efforts are recognised, they’re 9x more likely to stay two or more years in their roles - saving you the effort (and cost) of further talent acquisition.
Unsurprisingly, people who feel recognised at work are 2.2x more likely to bring new ideas and innovation forward, leading to a more creative workforce.
However, one of the biggest reasons why you should have a recognition strategy in place is because it’s proven that recognition at work reduces stress, builds confidence, and strengthens learning, preventing burnout (which 75% of those working in finance have reported to have experienced).
Read more: Why whimsy is taking over the workplace
We get it - it’s going to be a complete culture overhaul for financial services to re-evaluate their current recognition strategy, but it’s not as daunting as it sounds (promise).
To begin with, it helps to understand the two types of motivation you can incorporate into your programme for a holistic approach to recognition: intrinsic and extrinsic.
The trouble with most recognition approaches is that they rely heavily on the "milestone" element of an employee’s career - 77% of financial employees say their organisation has a formal programme to recognise years of service, but far fewer have programmes recognising everyday effort (58%), safety (67%) or wellness (63%) achievements.
The long-service awards are covered. The everyday wins (the ones that actually build a culture of appreciation) are the gap that needs closing.
And one of the best ways to do this is with promotional merchandise.
An email, however well-written with gushing praise, gets deleted.
A call-out in a meeting? Forgotten within moments.
A happy bonus? Put towards the mortgage like it never existed.
But a personalised gift? One that was given to say, “Well done!” or, “Thanks!”?
That sticks around (literally, and psychologically).
And there are a few reasons why this is:
A physical product embeds itself into your daily routine. Your favourite travel mug, the tote bag you keep in the boot of your car, the cap you grab as you head out the door. These products become constant reminders of the positive brand association.
Other ways to positively recognise the hard work of your employees are instant and over in a moment. Promotional gifting, however, lasts far, far longer.
Gen Z want to be seen, heard, and valued. Getting a gift for good work they can share via socials with pride will mean more to them than a singular call-out.
Promotional gifting, when done right, can have a perceived higher value associated with it than any other recognition tactic. A new, high-end notebook, quality hoodie, or exclusive power bank makes your brand look generous, and the appreciation more weighty.
Take a peek below at a selection of our most popular products. You never know, you might find your new branded favourite.
Read more: Maximise your marketing budget with this foolproof ROI strategy
Because financial services’ recognition strategy is in need of a complete overhaul, here are nine other ways you can improve your appraisal programme.
Sharing your recognition stories, whether that be internally or externally, makes the praise more empowering than if it were kept one-on-one.
Sharing stories also creates a feeling of brand unity and cohesion, making teams happier and more fulfilled.
This might sound counterintuitive, but by opening up and sharing your mistakes - with the narrative that it’s okay to fail - you’ll create a culture of people willing to experiment and be creative without fear of failure (which is where all the good ideas are).
Internal employee awards are a fun way to acknowledge all your team’s hard work throughout the year. Bonus for fun awards like ‘Cuppa Champion’ (aka the person who makes the best cup of tea).
Especially in the finance sector, those early on in their careers can find the industry overwhelming and a bit intense (understatement much).
By offering a long-term service award, you’ll show new employees that it is indeed possible to survive and thrive in this amazing industry.
By championing and providing opportunities for volunteer experiences, you’ll be recognising your employees’ efforts for causes that matter most to them, leading them to feel valued and appreciated.
Read more: Volunteering with the Cornwall Wildlife Trust
And by this we don’t mean offering it as a reward or incentive, rather an already established base-level perk.
This works because by supporting your team with their work/life balance, you’re recognising that you trust them to do the work they’re hired to do.
By offering rewards for clear team goals, you’ll motivate your team to meet those requirements. Things like hitting a target, onboarding a new client, or closing a particularly difficult order all deserve praise. This is where timing is particularly important, though - ensure you’re praising directly after the good work.
Incentives can range from products to experiences, depending on the level of achievement. But they have to be actually valued by your team - it’s no good giving someone scared of heights a voucher for skydiving.
Especially in finance, more and more people are feeling burnt out and stressed. By educating your team on the best ways to manage their own mental health, you’ll be rewarding them with lifelong skills.
Whether that’s a gym membership, a wellness experience, or a therapy opportunity, making sure your team feel cared for is a great way to say thanks.
We love gamification. Perfected by Labubus, gamifying your recognition strategy is a great way to keep things interactive.
With leaderboards, points and a healthy competitive element, you can make achieving goals fun and a whole team-building experience.
Read more: Why I love Hinge as a happily married marketer
Whatever way you choose to reward your staff, there are four things you need to remember. These are:
Don’t wait until the end of the year to tell your team they’re doing a good job; otherwise, it’ll feel like an afterthought.
If you’re vague about why you’re giving praise, it’ll come across as insincere, and employees will find it harder to replicate the good work.
Make sure you praise all your employees equally.
Make sure your recognition strategy is applied long-term, and not just a one-off.
What they do: Nationwide relaunched its recognition strategy in 2021 with "Appreciate," a single platform replacing its old fragmented systems across 18,000+ employees.
Why it works: Daily eCards jumped 300% in the first three days, engagement sits at 85% active users, and the business is nearing 100,000 eCards sent with half a million pounds spent on rewards. This turned an inconsistent strategy into something worthwhile for all.
Claire Clarke, Reward & Recognition Specialist at Nationwide
What they do: Capital One runs its recognition programme, powered by O.C. Tanner's Culture Cloud, across 51,000 associates and 145 business units.
Why it works: 75% of associates are now recognised, with employees reporting higher motivation, and the business ties the programme directly to staff reductions. And now, employees are feeling more connected to the company - what a win.
HR Director, Capital One
What they do: Metro Bank built a social recognition platform with custom badges tied to specific values, including its popular "One Team" badge for employees who show a collaborative, all-for-one mindset.
Why it works: With an average of 500+ recognitions sent per week, the culture-first approach has helped Metro Bank pick up Glassdoor's Best Place to Work and multiple customer service awards over the years. This proves that recognition tied to values (and not just targets) pays off in both engagement and reputation.
Because recognition tends to focus on major milestones and long-service awards, while the everyday effort - the reports pulled together under pressure, the mistakes caught before they became problems - often goes unnoticed. Programmes exist, but they're not reaching the moments that matter most.
Yes - recognised employees are more engaged, more likely to stay, more creative, and less likely to burn out. The research consistently links genuine recognition to better retention, productivity and innovation.
Intrinsic motivation comes from personal satisfaction in doing good work; extrinsic motivation comes from external reward or recognition. Both matter, and the most engaged workplaces tend to nurture both rather than relying on one alone.
Financial services is all about successes - turning a profit, developing equity, investing wisely.
However, in such a fast-paced industry, one with challenges at every level, you need to remember to keep the praise high-profile and persistent - to make it stand out against the chaos of the everyday.
Recognition doesn't have to be complicated; it just has to be honest.
Heartfelt.
Sincere.
Your employees are who make your brand what it is, whatever industry you’re in, so it’s best to keep them happy, engaged, striving to achieve.
And in an industry like finance where every penny is literally counted, a branded gift, one that didn’t have to be given, speaks more in emotional brand building than any spreadsheet could.
Browse our full range of promotional branded products now to find your next recognition strategy.