According to a report1 from PwC, the anxiety of CEOs in the financial services sector regarding the availability of key skills continues to rise. 76 per cent of FS CEOs worry about shortages of digital skills within their workforce, while 91 per cent of FS CEOs believe they need to strengthen soft skills such as the creativity and emotional intelligence needed to innovate and connect with customers, according to the report.
Expansion into emerging markets, changes in finance products and regulations, the increasing use of technologies such as AI and predictive analytics, and Brexit means that finding talented people who can add value from day one is becoming more and more difficult. There has been a sharp decline in interest from EU graduates looking for UK jobs since the Brexit referendum; a recent LinkedIn survey2 states that as Brexit impacts upon the financial services industry, UK educated workers are taking a larger share of new financial services hires and the industry is becoming less international as a result.
What is required is a clear strategy for the whole recruitment and retention process, from planning the search and the brief, to looking at different ways of not only attracting talent but also keeping it through the crucial first few months.
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