FCA trials HR initiatives as staff exits continue

External staff turnover back at 2013 levels

Carmen Reichman
clock • 2 min read

Staff turnover at the regulator has returned to early 2013 levels, prompting it to put in place human resources (HR) initiatives aimed at stopping staff from leaving the organisation.

Financial Conduct Authority (FCA) board minutes for May revealed the current rate of external staff turnover - staff quitting the regulator for jobs outside - was 11.2%. Although the board noted the rate had remained "stable" in recent months, it was up 24% on the rate recorded at the end of the FCA's first year, when 9% were leaving for external jobs. The current figure means the regulator has returned to levels last seen in its first six months of operation, following the split of the previous regulator the Financial Services Authority (FSA), when it recorded a staff turnover of 12%...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

No naming without shaming? The FCA's transparency plans

No naming without shaming? The FCA's transparency plans

The impact of the FCA’s plans to name firms under investigation

Chris Croft
clock 27 March 2024 • 4 min read
FSCS declares three financial advisory firms in default

FSCS declares three financial advisory firms in default

Latest batch of failed firms revealed by lifeboat fund

Jenna Brown
clock 25 March 2024 • 1 min read
FCA commits to fast authorisations to boost finance sector

FCA commits to fast authorisations to boost finance sector

The regulator’s latest business plan highlights this focus

Sahar Nazir
clock 19 March 2024 • 1 min read