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FOS plans hiring increase after cutting hundreds of staff

Crowd-of-people-masses-700.jpgFOS hiring will replace only a fraction of staff let go

The Financial Ombudsman Service is planning to hire more staff after cutting hundreds since 2016.

The complaints adjudicator is forecasting an increase in full-time equivalent headcount from 2,821 as at this August, by adding over 150 new staff to hit 2,978 by December, according to data acquired by Money Marketing under the Freedom of Information Act.

While headcount is expected to reduce back down to 2,943 by next March, the level will still remain around 120 higher than currently is, and bucks a trend that saw FOS shed 600 jobs through 2016.

Back in January 2016, FOS’ headcount stood at just over 3,600.

FOS has outlined plans to move towards a more flexible working system, where ombudsmen see claims quicker and queues do not build up on niche cases where specialist ombudsman were kept on retainer but may have had inconsistent workflow.

As at August this year, the FOS had 1,077 general caseworkers compared with 164 ombudsmen. 926 staff were devoted to ‘mass claims’ like payment protection insurance.

Staff satisfaction

Money Marketing has also obtained a copy of the latest FOS staff leavers surveys indicating employees’ levels of satisfaction with the organisation.

In June this years, of 30 respondents, 13 agreed they would recommend FOS to a friend, and seven strongly agreed. Six disagreed and four strongly disagreed.

17 agreed they would work at the FOS in the future, and seven strongly agreed. Six either disagreed or strongly disagreed.

Some of the best performing areas with staff were working relationships with teammates and managers, and work-life balance. 27 out of 30 rated work-life balance at FOS as either good or very good.

However, the organisation scored less well on opportunities for career growth and progression and senior leadership.

Two thirds labelled career opportunities either poor or very poor, and senior leadership was rated very poor by a third.

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Comments

There are 7 comments at the moment, we would love to hear your opinion too.

  1. Would be worth asking how many agency staff they have on their books. Last time I checked it was around 50% of total staff.

  2. “27 out of 30 rated work-life balance at FOS as either good or very good”.

    I am not sure what this means in reality?

    If read in conjunction with “senior leadership was rated very poor by a third” it may suggest that the mindset is that this would be a great job if it was not for having to deal with complaints?

  3. I keep thinking how restricted the pool of ‘talent’ is what your offices occupy some of the most expensive filing cabinet storage space in the world. Like gerbils on a wheel.

    • I keep wondering why the work is not done from home rather than that expensive real estate. I could have sworn with the cloud you can access all info from pretty much any location and use video conferencing calls to speak to minions and senior staff?

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