Major HR challenges in FSI for 2015

Article

Major HR challenges in FSI for 2015

The financial services industry is facing numerous talent challenges: what should CHROs focus on in 2015 to maximise their business impact? Deloitte’s research on key HR trends for 2015 suggests that talent acquisition, employee engagement and corporate culture transition should be at the top of the agenda.

Executive Summary

Over the last few years, the financial sector has experienced significant transformations pressing CHROs to face up to strategic talent challenges, in particular in the areas of talent acquisition, employee engagement and corporate culture transition.

Indeed, regulatory pressure on remuneration, combined with a damaged sector reputation, is limiting companies’ ability to attract and retain key people. The Deloitte ‘Talent in Banking’ survey reveals that banking is no longer a top career choice for GenY students, who are attracted by sectors perceived as more dynamic and innovative. Since this generation will represent 75% of the global workforce by 2020, financial sector companies will need to adapt their talent acquisition strategy and employee value proposition. In addition, fundamental changes to business strategy as well as organisational restructuring both create and require a change of corporate culture.

To support their efforts in talent acquisition and employee engagement, CHROs may also consider revising their HR technology strategy and upgrading the skills of their HR teams to reinforce their analytics skills and integration with the business.

Exploring four of the ten trends identified in the recent Bersin by Deloitte report ‘Predictions for 2015’, this article provides CHROs in the financial sector with insights into the following key dimensions: talent acquisition, employee engagement and culture, HR technology and reskilling of the HR function.

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Inside magazine issue 8, April 2015

Inside is Deloitte’s quarterly magazine offering an exclusive insight into best practices, trends and opportunities faced by our clients across all industries.

Inside focuses on the main hot topics relevant for the market (Asset management, Banking, Insurance, Public sector, Healthcare, Private equity, Real estate, TMT, Manufacturing and consumer business, Transport and logistics).

PDF - 10.7mb
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