When your company is ready, Digitization and growth in skilled work will bring opportunities. You will need people with different skills to help compete.

That’s why leaders need a workforce strategy that matches its direction and the pace of change. One must begin with Insight:

Leverage assessments to identify and track opportunities and critical gaps in the existing workforce.

This process will provide valuable information that can aid in talent acquisition planning, career development and retention.

Provide Meaningful Career Management – Critical skills, especially those related to cyber security and regulatory compliance, are getting more expensive to acquire and difficult to retain.

Providing ongoing opportunities for career development will help ensure your organization can attract and retain top talent.

Manage Your Talent Supply Chain – Think outside the box when evaluating the best way to acquire additional resources.

For example, many security needs can be met with one-time or periodic support through contract expertise, project-based consulting, deliverables based temporary staffing initiatives, or a shared talent pool that can be leveraged across multiple organizations. (Collaborating with Competitors: Sharing Talent Pools to Meet Workforce Challenges)

Fill Your Leadership Pipeline – In times of transformation, having the right type of leaders in place can set the tone for business success. A powerful leadership model focuses on three things: outcomes, enablers and capabilities.

• Consumers globally now use digital channels to fulfill their banking needs.
• Consumers have used or expect to use non-bank providers in the near future.
• Consumers trust their banks to put their interests first and offer unbiased advice.
• Consumers feel extremely confident in the banking industry today.

More than ever, the industry will need an agile workforce in place, poised to provide a personalized experience for the customer and world-class security for their money.

Consumers, across generations, indicate that they still want and need a human touch.

Jobs requiring higher levels of skills proficiency are growing fastest. Companies are challenged to identify the roles and skills that are business-critical in years to come

executives believe automation will significantly change or completely transform banking over the next three years.

By 2020, more than 1/3 of the desired core skill sets of more occupations will be comprised of skills that are not yet considered crucial to the job today.

The jobs GenZ will perform, do not yet exist.

Suresh Shah, Pathfinders Enterprise