Improving future business outcomes requires creating new roles and new ways of working; empowering people with next-generation tools, deep intelligence and personalized training; matching the right people to the right projects; and defining a clear purpose. Banks that stick to old talent management strategies risk losing ground to FinTechs, neobanks and other non-traditional competitors. And they’ll see their skills gaps continue to widen.
Reimagining work — the employee experience, the workplace, talent programs, roles and job types — is essential to long-term success. Why? Because it enriches the organizational culture, strengthens workforce capability, and enables gains not only in productivity and efficiency, but also in growth and innovation.
By focusing on four bold imperatives, banks can differentiate in the competition for top talent and drive higher returns on people investments:
- Liquid careers: tailored career pathing and coaching, dynamic learning and development, and platforms and tools that auto-match talent and opportunities in line with business needs.
- Empathic design: wellness systems and dashboards, artificial intelligence (AI)-based personal productivity tools, biometric schedulers and smart, responsive workspaces that adapt to the needs and moods of individuals and teams.
- Omniscient operations: always-on, corporate intelligence systems built on deep historical knowledge to inform decision making, promote best practices and inspire peak performance across all operations and projects.
- Responsible results: a clear narrative around purpose to attract top talent, fostering an environment where employees see the social impact of their contributions.
By focusing on four bold imperatives, banks can differentiate in the competition for top talent and drive higher returns on people investments:
- Liquid careers: tailored career pathing and coaching, dynamic learning and development, and platforms and tools that auto-match talent and opportunities in line with business needs.
- Empathic design: wellness systems and dashboards, artificial intelligence (AI)-based personal productivity tools, biometric schedulers and smart, responsive workspaces that adapt to the needs and moods of individuals and teams.
- Omniscient operations: always-on, corporate intelligence systems built on deep historical knowledge to inform decision making, promote best practices and inspire peak performance across all operations and projects.
- Responsible results: a clear narrative around purpose to attract top talent, fostering an environment where employees see the social impact of their contributions.
No one can predict the future with precision. But technology developments and talent management trends make it clear that tomorrow’s banking jobs will demand more adaptive skill sets and fluency with AI. Rich, varied and purpose-oriented careers will be within reach for more bank employees. There’s never been a better time to explore what’s possible for banks that establish and execute a compelling vision for the future of work in banking. Stefanie Coleman, a leader in the EY global People Consulting practice focusing on the banking sector says, “In addition to exploring the possibilities of AI, putting humans at the center of business strategy will lead to better outcomes for everyone — banks, employees, customers and society at large. The more banking leaders prepare the workforce for a dynamic future, the better.”
