Positive workplace culture key to enhancing productivity, says principal

Ahead of the Women in Finance Summit 2025, Palfreyman Chartered Accountants principal Simone Palfreyman said: “when looking to ethically lead and scale a business, I believe a wellness and team culture focus is essential.”

“For too long, the finance profession has seen employees as replaceable tools, with no care for their well-being, their personal or family lives, or their ambitions,” says Palfreyman.

“A leader who focuses on nurturing their staff will generally have more dedicated and long-term employees who want the firm to succeed.

“Productivity and innovation increase,” Palfreyman explained, noting that “employees stay longer with a firm that supports them, saving huge costs on recruiting and training replacement staff.”

In fact, research shows that employees who work in a supportive and positive workplace tend to be more productive, engaged, and innovative, and are more comfortable to share ideas or raise concerns. They also generally take less sick leave and report fewer health and safety issues.

Palfreyman says that increased engagement can be achieved by fostering a positive, nurturing, and empowering work culture, while ensuring staff have enough flexibility to achieve their personal goals outside of work, a trend we are already seeing emerge in the finance industry.

“In today’s workforce, I see a focus more on work-life balance and personal fulfilment. Staff want to make an impact both in the workplace and in their personal lives.

“Providing an employee with the ability to achieve both in and outside the workplace is a major key to having a successful team culture,” she said.

Research from Culture Amp indicates this growing shift towards a positive workplace culture within financial services has led to increased employee engagement across the sector.

The study found that 73 per cent of Financial Services Australia employees are engaged, placing the sector in the top 40 per cent compared with the overall average.

Engaged employees reported strong levels of autonomy, confidence in leadership, access to learning and development opportunities, and motivation in their role.

This type of business is empowering for the leaders, the employees, and the clients, resulting in employees who are productive and dedicated team players, Palfreyman concluded.

To hear Simone Palfreyman speak further on how to scale a business without a growth-at-all-costs mindset, come along to the Women in Finance Summit 2025.

Hosted by Momentum Media’s finance network, the event will take place on Friday, 14 November 2025 at the Hyatt Regency in Sydney. Click here to buy tickets.

To learn more about the summit, click here.