The power to perform: Human capital 2020 and beyond

Workforce demands are being transformed

Financial services (FS) is being transformed, and with it the talent FS organisations need to succeed, where they come from and what they want from their careers.

And with this comes the need for ...

  • New skills
  • An innovative and agile mind-set
  • And new ways of attracting, motivating and organising your people

By 2020, the make-up of your workforce and how it’s recruited, organised and rewarded will look very different from today. In turn, the role and function of HR will have been overhauled. How can you ensure you have the – human capital – you need to succeed?

The digitised workplace fuels productivity

By 2020, the bulk of routine transactional tasks will have been automated. Robotics and artificial intelligence (AI) will also have taken on an increasing number of high value functions in areas such as trading, underwriting and financial advice. The challenge isn’t just ensuring you have the right systems in place, but judging what role your people will play as they’re increasingly required to work alongside AI. Realising the potential requires a rethink of job roles, accountabilities, skills and mind-set.

Engaging with talent you need to succeed

The expectations of your workforce, and the people you need to attract, keep changing. Seeking to attract, motivate and retain people through an employee value proposition built solely around financial reward is no longer sustainable. People want to work for organisations that inspire trust and reflect their values. The businesses out in front are aligning what they stand for as an organisation with changing stakeholder expectations in key areas including diversity, agility, ways of working and delivering value to society.

The way forward

In The power to perform: Human capital 2020 and beyond, we set out seven key priorities for ensuring your workforce strategy and how it’s executed are fit for the future:

Priority one

  • Build trust and purpose
    Rebuild trust and redefine employer brand to attract and retain tomorrow’s workforce

Priority two

  • Plan for the workforce of the future
    Develop dynamic workforce supply/demand models to prepare for the workforce of the future

Priority three

  • Create digital ‘talent exchanges’
    Maximise the potential of digital ‘talent exchanges’ to promote a better match between talent ‘buyers’ and ‘sellers’

Priority four

  • Rethink skill development
    Influence redesign of academic curricula and modernise corporate learning & development to build an adaptive workforce

Priority five

  • Digitise work
    Digitise the workplace to fuel increased workforce productivity

Priority six

  • Embed human capital analytics
    Integrate human capital data analytics in priority business decisions

Priority seven

  • Redesign compensation models
    Redesign jobs and compensation models to reward contribution to business value Redesign job framework (capabilities, roles and pay) to take account of new business models and disruptive technology.

Contact us

Jon Terry
Partner, Global FS HR Consulting Leader
Tel: +44 (0) 20 7212 4370
Email

Chris Box
Partner, EMEA FS HR Consulting Leader
Tel: +44 (0)20 7804 4957
Email

Bhushan Sethi
Financial services people & organisation practice lead
Tel: +1 (646) 471 2377
Email

Emma Grogan
Partner, Asia-Pac FS HR Consulting Leader PwC Australia
Tel: +61 (2) 8266 2420
Email

Julia Lamm
Director, People and Organisation Practice PwC (US)
Tel: +1 646 471 6392
Email

Maya Bhatti
Global FS Marketing
Tel: +44 (0) 20 7213 2302
Email

Contact us

Nigel Vooght
Global FS leader
Tel: +44 207213 3960
Email

John Garvey
Advisory Financial Services leader
Tel: +1 646 471 2422
Email

Robert Sullivan
Deputy leader, Global FS
Tel: +1 (646) 471 8388
Email

Markus Burghardt
Global FS Assurance Leader
Tel: +49 (0)69 95 85 2240
Email

William Taggart
Global FS and Asset & Wealth Management Tax leader
Tel: +1 (646) 471 2780
Email

Áine Bryn
Global FS Marketing Director
Tel: +44 (0) 20 7212 8839
Email

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