Finnish financial sector seeks productivity, competitiveness and well-being

The Finnish financial sector is facing big changes in the future. In order to gain insight into the forces of change, financial sector employer and employee unions together carried out a project titled Healthy Financial Sector.

The central theme of the development project was to increase productivity, competitiveness and workplace well-being. The project was based on the changes in customer behaviour and the ongoing impact of digitalisation.

While customers expect their service providers to offer digital service channels, they also wish to receive more personal service. The financial sector must keep up with progress so that customers, employees, and employers benefit alike.

Boosting productivity requires digitisation as well as the continuous development of services and employee competences. Many of the key factors of productivity and well-being identified in the project were interlinked.

The project was a collaborative effort by Nordea Union Finland, Trade Union Pro, Union of Insurance Employees VvL, and the Federation of Professional and Managerial Staff YTN, with the Federation of Finnish Financial Services representing the employer side. It was the first sector-specific cooperative venture of this extent to map a common vision of its future in any Finnish service sector. Results of the project are available on the project’s website.