Top Tech Stats: FinTech, inspirational leaders & more
Welcome to your roundup of some of the past week’s most interesting surveys, reports and statistics relevant to those involved in the UK tech industry.
This week, we have statistics covering FinTech, mental health and inspiration in the workplace.
One in six workers experience depression, anxiety or stress, and according to The Office of National Statistics this is costing the UK economy £26bn.
Depression, anxiety and stress are more common within a stronger workforce, according to Tricia Woolfrey, an expert in stress-resilience, performance and productivity.
“It is often the strong and the diligent who are more likely to suffer. Why? Because they care about doing a good job and their sense of duty and responsibility will cause them to power through. These are the people who, when firing on all cylinders, will produce the best results for you. And, when they crash and burn, will cost you dearly,” she said.
“Performance and productivity are only sustainable where a positive approach to stress-resilience and wellness exists within the organisation. Because taking care of people is taking care of business,” Woolfrey concluded.
What is FinTech?
A survey by Bud, a universal banking platform, has found that 92% of UK millennials have never heard of FinTech. This statistic amounts to 94% of women and 89% of men aged 18-35.
Ed Maslaveckas, founder and CEO of Bud, said: “There are so many ways in which FinTech could help millennials, if only they knew about it.’’
The survey also found that 57% of 18-35-year-olds want to manage their finances better, demonstrating a need for FinTech to become accessible and known amongst millennials.
Only 20% of millennials have used Apple Pay or Android Pay, 24% have used a new financial product and just 12% have sought professional financial advice.
Maslaveckas said: “It’s time for the industry to move away from talking in tech and finance speak, and to start focusing on what they can do for their customers.”
Research from presentation conference Present, in association with HRN Conference, revealed that only 18% of respondents found their CEOs and business leaders inspiring.
The study also indicated that 44% of workers are, instead, looking to their colleagues for motivation and inspiration. With rising competition to appeal to new talent and retain good workers, engaging and inspiring a workforce through positive leadership is key.