The evolution of financial services Deloitte US

Effective talent management has become increasing complex with three overlapping groups of employees in the workforce—Baby Boomers, Gen Xers, and millennials—and another waiting in the wings (Generation Z). As the workforce evolves, a renewed focus on organizational culture and employee engagement are one of the most powerful levers companies have to attract and retain top talent.

Companies today are witnessing an ever-increasing role of robots in the daily workplace but the question remains whether humans will be fully replaced. These dramatic changes present an opportunity to rethink how to conceive of work by freeing resources from simple tasks and redeploying skills and knowledge to more value-add instances.

Banks today are struggling to keep their balance as they tackle three major fronts at once: simplifying the business, complying with regulations, and modernizing/differentiating themselves. So what can banks do to tackle these challenges? This episode outlines five things we believe financial institutions can do to succeed in this changing market.