The future skills required to drive change and improve competitiveness cannot be acquired only through a talent acquisition strategy, which is expensive and unsustainable given the tight labour market for leading-edge technology and digital competencies. Financial institutions need a comprehensive reskilling and upskilling program for current employees and a compelling total rewards program that retains high-impact talent.
The need to deliver a human capital strategy that provides meaningful and engaging benefits for a multigenerational workforce has also become an organizational imperative.
People risk and change can only be mitigated and managed through effective people management.
The need for specialist support:
A specialist team with access to industry-wide benchmarking data and sophisticated analytics tools can support financial institutions by collecting and analyzing workforce data, and measuring against existing and evolving business models.
With these data-driven insights, financial institutions will be in a position to better understand the drivers of performance and make informed decisions about investment and how best to optimize their workforce for commercial growth.