The industry body’s Future of Work in Investment Management report explored individual attitudes towards evolving workplace environments within the investment industry in the face of the pandemic.
The report highlighted the resilience of the industry, with 75 per cent of investment professionals remaining confident their jobs will be secure over the next 18-24 months.
Speaking on the findings, Lisa Carroll, chief executive of CFA Societies Australia said: “Just 10 per cent of professionals saw their employment status change because of COVID-19. That highlights that investment roles are well suited for remote working.
“We are seeing evidence of that during the current lockdowns in Sydney and Melbourne, where investment professionals are successfully getting on with their jobs from home.
“However, the study revealed that 20 per cent of Australian respondents have experienced a reduction in their total compensation since January 2020.”
Despite some professionals receiving reduced compensation, the industry’s resilience has encouraged calls to maintain flexibility following the conclusion of the pandemic.
Among women, 87 per cent of investment professionals wished to maintain working remotely part of the time. The same was true for 80 per cent of male professionals.
The report found working remotely brings unique challenges for the professionals in the industry.
Workplace mental health has become a concern as the lines between work and home become blurred. The number of respondents to the CFA study working over 60 hours a week nearly doubled during the pandemic from 8 per cent to 15 per cent.
At the same time, there is also an increased demand for upskilling from investment professionals. Ninety-one per cent of professionals stated that active upskilling is important, yet less than half received support from their firms for this.
“The onus is on organisations to adapt to the demands of the new environment and to support their employees and their professional learning,” Ms Carroll said.
