9 to 5 Nightmares Episode 6 - Misconduct trends in financial services and law firms

9 to 5 Nightmares

We talk about misconduct so you can avoid it!

Today on the #9to5Nightmares HR podcast, hosts Amy Warren and Micole Garatti discuss misconduct trends in two industries: financial services and law firms.

Here’s what the data shows:

• In Financial Services, non-financial misconduct allegations has surged by 72% from 2021 to 2023
  • The data shows bullying, harassment, and discrimination account for nearly half of reported incidents. The good news, however, is that high levels of reporting may indicate a healthier organizational culture, according to the FCA. (Financial News)
  • Increases in misconduct align with the data we saw in the State of Misconduct at Work in 2023, with signs of misconduct in job seekers increasing from 9% to 11% between 2022 and 2023. Because misconduct is contagious – when people see misconduct going on they are more likely to commit it themselves – and these increases occur at the same time as organizations push workers to return to the office, it’s likely return to office policies are a factor in the rise of misconduct. (State of Misconduct at Work in 2023)
• Research finds that 1 in 4 Lawyers experience workplace bullying
  • A recent LinkedIn article reports that a study of over 6,000 Illinois attorneys found that a quarter of lawyers experienced workplace bullying last year. Women, racial minorities, and LGBTQ+ lawyers were more likely to be victims of bullying. The data also showed a clear age gap in bullying with 39% of lawyers aged 25 to 35 reported bullying, while just 12% of those aged 66 to 75 said the same. Considering the legal profession is one ripe with strong power dynamics, the data makes sense. (LinkedIn)

Tune in next time for more misconduct at work and 9 to 5 Nightmares!