The Value of Neurodiversity in Financial Services
Understanding Neurodiversity in Finance
It is estimated that around 15-20% of the UK population are neurodivergent. A survey by The Diversity Project (2022) found that among 150 employees in the investment sector, 41% identified as Autistic and 45% identified as having ADHD. This distribution appears to be disproportionate compared to the general population, suggesting that the finance sector might have a higher percentage of neurodivergent individuals.
This is a huge talent pool that many finance firms are not empowering neurodiversity at work. Research has found:
There is a growing skills gap in STEM and other sectors, where 70% of employers globally report challenges in filling open positions
A Financial Conduct Authority (FCA) review found that only 21% of large firms and 4% of small firms collect data on neurodiversity, indicating a need for greater focus on embedding neurodiversity in the finance industry.
Benefits of a Neurodivergent Workforce
Neurodivergent individuals can bring unique strengths and perspectives that can enhance financial teams:
Fresh perspectives and "outside the box" thinking that can drive innovation
Strong pattern recognition and systematic thinking skills valuable for financial analysis
Ability to hyperfocus and thrive under pressure in fast-paced environments
Creative problem-solving approaches to tackle complex business challenges
Similarly, Pacilio (2024) found there is a need to diversify the talent in the accounting and finance industry, where embracing neurodiversity can bring in creativity and innovation.
Implementing Inclusive Practices
The ACCA released a report in 2024 called Neurodiversity In Accountancy, which suggested key strategies workplaces could implement:
Organisational Level:
Leadership buy-in and sponsorship - Ensure top-level support for neurodiversity initiatives as this helps to create a psychologically safe environment
Education and Training to all employees about neurodiversity to foster understanding and inclusion
Establish employee resource groups to provide neurodivergent employees with a platform to share experiences and provide a safe space for individuals to ask for support.
Neuro-inclusive Recruitment, offering alternatives to traditional interviews, such as work trials or task-based assessments, which may better showcase the abilities of neurodivergent individuals.
Develop clear policies - Review and update organisational policies to ensure they are neuro-inclusive for neurodivergent employees to understand what support is available.
Individual Level:
Workplace Adjustments:
Physical Environment: Provide quiet spaces, noise cancelling headphones, or adjustable lighting to accommodate sensory sensitivities.
Work Arrangements: Offer flexible working hours or remote work options to suit individual needs.
Ways of Working:
Clear Communication: Use direct, unambiguous language and provide detailed, step-by-step instructions for tasks, preferably in writing.
Task Prioritisation Assistance: Helping neurodivergent employees organise and prioritise their workload.
Use of Assistive Technology: Implementing software or tools that aid in task completion, such as speech-to-text programs or screen readers.
Personal Development:
Career Progression: Develop clear, structured pathways for career advancement that consider neurodivergent strengths.
Mentoring: Establish mentoring programs to support neurodivergent employees.
Regular Check-ins: Schedule frequent one-on-one meetings to address any concerns or challenges.
By implementing these strategies, finance organisations can create a more inclusive environment that harnesses the unique strengths of neurodivergent individuals, leading to increased innovation, productivity, and overall success.
Neurodiversity in Finance: Join Us on November 6th
We’re excited to invite you to our Neurodiversity in Finance event, taking place on Wednesday, 6th November, from 12:00 - 13:30. This event will explore how neurodiversity can enhance the financial services industry, driving innovation and inclusivity. We’ll cover best practices for fostering neuro-inclusive environments, the unique strengths neurodivergent individuals bring to finance, and actionable strategies for organisations to implement.
Lexxic’s Case Studies and Success Stories
There are many examples of organisations within financial services creating a more neuro-inclusive culture.
Neurodivergent employees in the JP Morgan Chase ‘Autism in Work’ programme were found to be 90% to 140% more productive than their neurotypical co-workers.
Firms in the financial sector that prioritise diversity and inclusion experience an increase in employee productivity of up to 16%
Lee and Leger (2024) found that when employees feel valued for their unique strengths, it boosts engagement and loyalty, resulting in higher retention rates and lower turnover costs.
EY has established Neuro-Diverse Centres of Excellence and reported these initiatives have increased productivity, efficiency, and work quality.
At Lexxic, we partnered with one of our clients in the financial sector to measure the impact of neurodiversity support provided to their neurodivergent individuals. Results included:
93% of employees said that they feel more confident to disclose their neurodifference.
94% of employees said that they are likely to remain with the organisation for the next 2 years.
90% of the HR team reported that employee performance had improved.
91% of managers reported an increase in employee confidence levels.
As your trusted provider, we can support you on your journey to become neuro-inclusive. This can include:
Workplace Needs Assessments
Consultancy
And more!
Don’t miss the chance to learn how to unlock the full potential of a neurodivergent workforce, and register for our event today!