The financial services industry is facing difficulties in retaining and attracting top talent. Having taken the brunt of the impact of the 2008-09 financial collapse, FSI companies still carry a tarnished reputation. The sector also faces a widening talent gap, stunting growth and disrupting productivity. The struggle to adapt to global digitization also leaves FSI corporations in its wake, discouraging valuable millennial talent from entering the sector.
While companies focus on digital strategy to improve evolving consumer demands, most neglect internal digitization to honor evolving employee demands. As a result, only 38 percent of FSI respondents to the 2016 Digital Business Global Executive Study and Research Project agree or strongly agree that their organization offers employees the resources or skill-development opportunities they would need to thrive in a digital environment, and nearly half—41 percent of survey respondents—plan to stay at their current organizations for three or fewer years.
