Forces of change in financial services industry
The fundamentals of traditional industries, such as financial services and insurance, continue to be impacted by factors including disruptive technology, globalization, and the changing workforce demographics. To master these forces of change and to remain competitive, companies must not only implement new ways of thinking in order to attract, develop and retain talent, but also align their talent strategies with these challenges.
Closer look at Mercer's newest report
In the first publication of a three part series, Mercer explores the implications of these forces and trends for financial services companies, and how to reorient the Human Resources function to meet the talent management demands of rapidly changing markets. A few examples of which are seen below:
- Conduct robust workforce planning to address changing skills needs
- Leverage new technologies to enhance talent processes
- Re-imagine the employee value proposition and employee experience
- Create agile and fluid organizations
- Foster diversity and inclusion for competitive advantage
Rounding out this research Mercer looks into the subsequent role HR must take in order to align organizational structure and strategies with these new implications.