If financial services firms want to remain competitive both now and into the future, they must focus on acquiring and developing new skills. In this webinar—featuring results from PwC’s Global CEO Survey—learn why digital upskilling is the key to workforce transformation in the rapidly changing financial services industry.
2. PwC
Over the next hour we plan to:
1. Discuss the growing importance of
upskilling in our current economic
environment
2. Explore the unique challenges facing
financial institutions in upskilling their
workforce
3. Share leading practices and unique
industry perspectives
Agenda:
Introductions
Financial Services and Digital Upskilling
Roundtable
Q&A
Welcome!
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3. PwC
Today’s Facilitators
Julia Lamm
Workforce Strategy Leader at PwC
Jim Gahagan
Financial Services Technology and
Software Executive at Workday
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Joe Fleischer
Moderator at Argyle
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5. PwC
Policy
Uncertainty
34%
Cyber
Threats
33%
Over
Regulation
36%
Uncertain
Economic
Growth
34%
Upskilling is Imperative in the New Working World
Now more than ever, there is a growing need for organizations to upskill their workforce in order to
remain competitive and innovative in a rapidly changing environment.
Findings from
PwC’s CEO Survey
● CEOs list the availability of key
skills as an extreme concern for
a fifth straight year
● Only 21% of US CEOs
reported “significant progress”
in defining the skills needed to
drive their future growth strategy
● Most employees (77%) want to
learn new skills now or
completely retrain to improve
future employability
Source: PwC, 23rd Annual Global CEO Survey
Availability
of Key
Skills
32%
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6. PwC
The availability of key skills is a top concern for CEOs year
over year
Are you concerned about the availability of key skills?
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Source: PwC, 23rd Annual Global CEO Survey
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7. PwC
24%
of programs have led to greater
innovation transformation
vs 30% across all industries
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17%
made progress in improving
knowledge of technology
vs 20% across all industries
15%
say retaining employees who have
learned new skills is their biggest
challenge
40%
have made no real effort to partner
with institutions in academia or
government to help develop new skills
16%
have been effective in reducing
skills gaps and mismatches
vs 20% across all industries
Financial Services Firms are Lagging Behind
Financial Services is lagging behind other industries in upskilling their workforce.
Source: PwC, 23rd Annual Global CEO Survey
25%
of Asset and Wealth managers have
made no progress at starting an
upskilling program
8. PwCPwC
A Closer Look at Financial Services Approach to Upskilling
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Source: PwC, 23rd Annual Global CEO Survey
Defined the skills
needed to drive
future growth
strategy
Looked to
improve worker
& leader
knowledge of
technology
Established an
upskilling
programme
Collaborated
with academic/
government
institutions
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Talent Competition
Most desirable skills
needed to support future
ways of working are in
high demand
Technology Disruption
& Innovation
New entries and
innovation requires
Financial Services
institutions to rethink both
their technology
ecosystem and their
supply chain
Financial Demands
Variety of forces placing
unsustainable or short-
term cost pressures on
Financial Services
institutions
Regulatory Pressure
Increase scrutiny and
regulations on Financial
Services institutions, since
the financial crisis
Unique Challenges Impacting the Financial Services Industry
10. PwC
Integrate the initiative with
existing talent and training
programs
On demand, bite-sized, tech enabled
learning
Tell a powerful story about the value of
upskilling and evangelize the vision
Focus on digital tools and new
ways of working
Gamification and employee
choice
Actions that
have
Impact
What can you do to
get started?
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