Despite progress: Stress has become a permanent thing for financial sector employees

Financial sector employees are working harder. So much harder that one in five are at risk of developing health-threatening stress.

This is the outcome of Finansforbundet's satisfaction survey, which was conducted among 9,200 members.

Of these, 19 per cent responded that they are feeling stressed "all the time" or "often". In addition, 20 per cent indicated a lesser degree of well-being or no well-being at all.

Stress is a costly burden for society

An analysis made by the Economic Council of the Labour Movement (AE) shows that stress costs society DKK 55 billion every year, as employees under stress work fewer hours and are sick more often.

“Stress is placing huge financial strain on our society. And even more importantly: it has personal consequences for those affected, and for colleagues and families,” says Dorrit Brandt.

If you disregard the years of the Covid pandemic, when the well-being of members was significantly better, and stress was far less prevalent, this is the first time since 2016 that the stress level of financial sector employees has gone in the right direction. 

Employer points to progress

At Finance Denmark/Employer, Director Morten Schønning Madsen notes that since 2019, there has been a general improvement in well-being across all employee age groups in the financial sector. He also highlights that work pressure has decreased and that fewer employees feel stressed.

“Regardless that Finansforbundet's survey indicates well-being in the sector to do well in general – not least for the group of young employees – we agree that efforts must continue to be made to improve well-being. This applies not least in relation to stress,” he writes in his response.

He emphasises that in order to support the member companies’ work to prevent and manage stress, Finance Denmark has collaborated with Finansforbundet, among others, to develop tools to prevent stress. Employers and employees in the financial sector have jointly established BFA Finance, which develops guides and materials in the field of occupational health and safety, including the so-called "Well-being pyramid" and the tool "Create psychological safety"; 

“Initiatives that have been well received. We are confident that they will also contribute to increasing well-being further and will continue to make the financial sector an attractive industry to work in,” says Morten Schønning Madsen.