Banking reputation hurting
It is a graduation time. Young students are leaving their colleges and universities and thinking about career opportunities. In a startling study I just came across, Lloyd’s CEO Horta-Osório spoke at Oxford University’s Saïd business school saying that the reputation of the banking/financial sector was hurting recruiting. He cited a study which I think came from Said business school that revealed that more than one quarter of students (28%) reported saying that they would be too embarrassed to tell friends if they were going to work in a bank. The survey also found 41% of students distrust banks and financial services providers and 56% trust banks less than they did five years ago. Whenever I discuss industry reputation with colleagues, it often comes up that someone worked at a company which made them embarrassed to mention when they were out on the weekends with friends and family. The fact that nearly 3 out of 10 college graduates in the UK feel this way about the banking industry is disturbing and shows how important reputation can b — in fact, 58% of students think that an organization’s reputation will influence their career decision. There you go.