Employee Experience now a ‘strategic imperative’ for banking sector

27 January 2025 Consultancy-me.com

In an increasingly competitive talent landscape, prioritizing employee experience is no longer a nice to have for banks – instead it should be considered a strategic imperative for leaders, according to a new report from Arthur D. Little.

While much of any bank’s attention goes to pillars such as governance, processes, technology, and innovation, ultimately, it are its people that actually get things done and drive growth and long-term resilience. With that in mind, Arthur D. Little’s report urges banking leaders – not just the CHRO – to place employee experience (EX) among the higher echelons of their boardroom agenda.

Employee experience encompasses every interaction an employee has with the organization, from initial application/recruitment to everyday work life, professional growth and development, and departure or retirement. “Employee experience is not simply about job satisfaction; it’s about creating a culture that aligns with the personal and professional aspirations of the people who make the organization thrive,” explained Yacin Mahieddine, partner at Arthur D. Little.

Just how important the topic can be is highlighted by the report. Organizations that embrace employee experience as a strategic priority are 2.2x more likely to surpass financial targets, 2.4x more likely to exceed customer expectations, 5.2x more likely to be recognized as a great place to work, and 3.7x more likely to adapt smoothly to change – all of which are critical capability in light of banking’s fast-paced environment and talent crunch.

“Our research shows that organizations investing in employee experience see tangible improvements in productivity, innovation, and employee retention,” said Mahieddine.

Yacin Mahieddine and Nelson Danam

Building an EX culture

Crafting a positive employee experience is however easier said than done, especially in the Middle East, where the region’s diverse workforce and fast-changing economic landscape present unique challenges. In its report, Arthur D. Little identified several key practices that can help banks foster employee engagement and drive long-term success. These include:

  • Onboarding is a critical first step and shapes an individual’s connection to a bank’s culture. 
  • Continuous learning and development improve retention and performance. 
  • Well-being programs are proven to promote a strong sense of belonging. 
  • Recognizing employee contributions maximizes engagement and aligns organizational purpose with employee values.

At the same, the authors caution leaders to consider trends in the wider business landscape that have an impact on what employees expect from their employers. Nelson Danam, principal at Arthur D. Little, noted: “Today we see key trends shaping employee experience such as the integration of artificial intelligence, the rise of hybrid work models, and the increasing focus on diversity and well-being.”

Mahieddine concluded: “In today’s competitive landscape, banks must view employee experience as a cornerstone of their operational strategy. Leaders need to prioritize employee experience for engagement, retention, and innovation, which requires investments in onboarding, training, well-being programs, and employee recognition to unlock lasting employee experience change.”

More on: Arthur D. Little
Middle East
Company profile
Arthur D. Little is a Middle East partner of Consultancy.org
Partnership information »
Partnership information

Consultancy.org works with three partnership levels: Local, Regional and Global.

Arthur D. Little is a Local partner of Consultancy.org in Middle East, Latin America, Netherlands.

Upgrade or more information? Get in touch with our team for details.