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Top 10 concerns in financial services: Skills shortage #1

Almost half (49 per cent) of financial services directors said that finding skilled candidates is their biggest worry over the next 12 months, according to research by Robert Half Financial Services. The survey also highlighted other key concerns, including the impact of tightened regulation controls, new business processes, and training and development for employees.

Other worries included market instability, bank recapitalisation, and training and developing existing employees. The research revealed that new technologies such as blockchain and automation are less of a worry, with many optimistic about their potential – only 13 per cent and 6 per cent fear their impact respectively.

The financial services industry faces a number of unique challenges, from the rise of challenger banks and the need to improve customer service, to digital transformation and impact of new regulations such as MiFID II and GDPR. In the face of these challenges, financial services leaders have identified the skills shortage as their greatest fear, demonstrating the importance of attracting and retaining talented employees.

  1. Finding the necessary talent/skills 49%
  2. Tightened regulatory controls 42%
  3. Implementation new business processes 35%
  4. Training and development of existing employees 32%
  5. Bank recapitalisation 32%
  6. Market instability 32%
  7. Finding growth opportunities 30%
  8. Cybersecurity 28%
  9. Staff retention 27%
  10. Fintech/new technologies 26%

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