5. Talent
As the global economy picks up, banks are feeling a
significant shift in the war for talent as the balance of power
transfers from the employer to the employee.
With around 50% of banking employees now
engaged in IT and technology related roles, banks are
competing not just with their direct market competitors,
but also with the likes of Google and Microsoft,
companies which have spent the last decade investing
heavily in work, work methods and workplace.
Expectations of the workforce are also changing, mostly
driven by a generational shift, with generation Y soon to
become the largest group in the workplace. In a 2012 survey,
graduates in the UK were asked what factors made an
employer attractive to them as an ‘employer of choice’. The
top factor with 82% was ‘a good workplace environment’,
followed by 81% saying ‘good salary and benefits’.
With this new generation also comes a change in career-
long expectations, with most expecting to move roles (and
often companies) every three years. Banks are looking
at ways in which they can ensure employees who leave,
become ambassadors for the company, and are also
looking at ways of attracting people back after they have
taken up a role elsewhere.
12
The future of the financial workplace
|
September 2014
