Whistle has published findings from its 2023 Banking Employee Survey showing a gap between job satisfaction and employees’ stated intention to stay. Its June infographic reports that 78% of respondents were satisfied with their job, while 53% said they were likely to leave within the following year.
Limited career opportunities were cited by 51% among reasons for considering a departure. Inadequate rewards and not feeling valued were each reported at 40%.
The reward preferences in the infographic put paid time off at 77% and cash at 70.5%, followed by travel at 43.5%. Whistle contrasts those preferences with banks’ use of merchandise catalogs and gift cards.
Banking employees’ preferred rewards
Whistle’s June 2023 survey of 200 US banking employees compares reward preferences within the same study.
%
Tap or hover for details. All values are also available in the data table.
Source
Preferences are non-exclusive and total more than 100%. The exact response rule and full questionnaire are unavailable. Cash is not relabelled as a gift card. These are sponsor-reported preferences, not turnover or retention outcomes.
Show data tableHide data table
| Category | Reported respondents |
|---|---|
| Paid time off | 77.0% |
| Cash | 70.5% |
| Travel | 43.5% |
| Company products | 16.5% |
| Merchandise | 15.5% |
| Experiential activities | 13.5% |
Frequency was another issue. The company reports that 61% wanted rewards weekly or monthly, while describing quarterly or annual recognition as common in the sector.
Whistle also reports demand for better reward tools and criticizes cumbersome approval and administrative processes. Its companion research page identifies a June 2023 survey of 200 banking employees across the United States. Recruitment, weighting and response rate are not disclosed. Whistle sells rewards products; the results describe stated preferences and intentions, rather than measured retention effects.
The infographic connects the choice of reward with career opportunities, appreciation and how promptly recognition reaches employees.
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Daniel Brooks
Daniel Brooks covers payment networks, financial technology, payment security, gift card fraud and PCI DSS for Gift Card News.