In the search for differentiation and digitization, the nature of banks’ work is changing—along with the skills required to deliver it. The impact is being felt most keenly by front-office and information technology personnel. To transform, the investment banking industry must first address critical questions about its workforces. In the wake of advances in technology and more stringent banking regulations there has been a shift toward increased transparency. Previous areas of competitiveness have been largely eroded. Return on equity has reduced. Banks are now looking for new ways to deliver value to clients and create a new competitive edge.

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Workforce of the Future:
Dealing with Business Change and
the Millennial Challenge

2. Are investment banks ready to
attract, retain
reward
a new generation of talent
?
Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
and

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Today, 60—65% of employees are older than 40,
with millennials accounting for a majority of the remainder.
In three to five years, those percentages will flip.
Passing the knowledge that is walking out the door
to younger workers will be essential.

4. Plus, banks are increasingly using external workforces
with valuable—but not critical—skill sets.
This raises new questions around managing extended
workforces—through intermediaries or digital toolsets—
along with investment levels, if any, in career development
to execute changes in products or culture for future success.
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5. Major roles are also evolving.
New IT roles will emerge in service integration, and
cloud and client relationship management—roles
where softer skills will be key.
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The traders of tomorrow will supervise largely automated trading activity,
overseeing asset liability management and maintaining client relationships.

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All these critical issues mean talent management must evolve from an
administrative function to a true partner of the business equipped to:
Attract and retain workers, particularly
millennials, who seek a career network
rather than a career ladder

7. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
All these critical issues mean talent management must evolve from an
administrative function to a true partner of the business equipped to:
Establish a roadmap of required skill sets
that is flexible and transparent

8. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
All these critical issues mean talent management must evolve from an
administrative function to a true partner of the business equipped to:
Answer extended workforce questions on
career development as talent management
moves to coordination, not ownership, of
talent development

9. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
All these critical issues mean talent management must evolve from an
administrative function to a true partner of the business equipped to:
Use human capital analytics to effectively
manage employees, optimize return, and
identify future investments

10. LEARN MORE
about how banks are turning workforce challenges
into new opportunities with our full report:
Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
Workforce of the Future:
Dealing with Business Change and
the Millennial Challenge