Every retail bank has been disrupted by the changes in customer behavior in recent years — it’s just a truism to say that now. Some have lived up to heightened digital expectations and remained competitive, while others have struggled. Banks often rely on legacy enterprise technology that makes it difficult for them to offer the digital and mobile-first experiences customers expect. This isn’t because they lack a willingness to invest in technology; rather they lack staff with the next-generation tech capabilities to design and product manage these digital experiences. They need to find the right people — and quickly. The Technology Talent Crunch Research from The Josh Bersin Company suggests that, by 2025, two out of five job postings aiming to recruit talent with a mix of technical and business skills in retail banking will not be filled. You might think that, despite the historically low unemployment levels we’re still seeing in advanced economies, this is a problem that can be solved by simply spending more money on existing recruitment practices to fill the vacancies. However, it is important to note that the kind of people retail banks want to attract are also the same highly skilled, digitally savvy […]
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