Is there anything to worry about?
With our imminent departure from the EU John Glen, Economic Secretary to the Treasury, delivered a speech at the launch of the Financial Services Skills Task Force report to address matters such as why financial services are not even in the top ten career choices for young people.
Mark Hoban, chair at Financial Services Skills Taskforce, stated:
“There is no doubt that the financial services sector is facing an existential skills crisis. While there are many examples of good practice, the industry lacks the overarching vision, coordination and focus needed to weather the megatrends transforming global business.”
So yes, there does appear to be a skills shortage looming which will undoubtedly have a direct impact on business growth.
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What is happening to address this?
Highly skilled workers are crucial to business growth and innovation. The financial services industry sector is competing for skilled workers with other industries that may be seen as more attractive.
Organisations that approach recruiting more proactively, and focus on building relationships and pipelining the best talent will have better success when it comes to attracting new talent into their business.
Showing how diverse and opportunistic a career in the financial services industry can be the edge that financial services need to win the battle for talent.
How can Expert Pensions help?
An empowered learning and development strategy improves employee retention. In fact, 93% of employees say they will stay longer at a company when that company invests in their career development. There is no doubt about it learning and development is amazing. It helps companies gain and retain top talent, it improves productivity, and helps your business to grow.
By engaging with our Corporate package we can help to align employee goals and performance with that of your business. Helping to identify skill gaps and then develop and deliver training to bridge those gaps.
87% of millennials say learning and development in the workplace is important while 59% of millennials say having opportunities to learn and develop are extremely important when deciding whether to apply for a job. We can help to reduce your staff turnover and retain your current employees by investing in their learning and development.
Your employees are your greatest asset. With the right team in place, anything is possible! Our learning & development package will focus on filling in knowledge gaps and upskilling employees so that they can reach their full potential.
So get in touch and see how we can help you grow your business: