Canadian Banks 2020: Upskilling the workforce

Canadian banks are in the midst of several forces of change that are creating opportunities for them to think differently about the capabilities required for the future of work. This has been fuelled by increasing customer adoption of digital-first service models, the rapid growth in data and the rising presence of both fintech and large technology players in financial services.

Canada’s banks have a tremendous opportunity to accelerate their own transformation by focusing on an issue that many organizations are addressing: building a workforce with the skills needed most in a digital world. So how can they leverage their workforce to ignite ongoing transformation that drives business value?

PwC Canada’s Diane Kazarian and Jennifer Johnson preview Canadian Banks 2020

To be truly effective in upskilling their workforce, banks are going beyond traditional training programs and fundamentally rethinking their approach to developing the workforce of the future. In Canadian Banks 2020, we outline a road map for upskilling the banking workforce that focuses on a unique, people-led approach to igniting the digital journey.

Watch a message from our leaders.

Duration: 00:02:02

Rising to the upskilling challenge

The digital world isn’t just about technical skills—it’s also about mindsets, relationships and behaviours that enable new ways of working and help to transform cultures.

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From training programs to gig exchanges to transformed workplaces, Canadian banks have been making significant investments in upskilling their workforces.

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As they think about their next steps in their upskilling programs, there are a number of key actions for Canadian banks to consider.

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CEO Spotlight

"We always need to be thinking of new ways to innovate. Driving value and creating a seamless customer experience is what differentiates us."

- Gillian Riley, President and CEO, Tangerine Bank

Coming soon

Envisioning a new model for growth and prosperity

By upskilling their existing workforce, Canadian banks will create new energy and excitement to reimagine the possible while making themselves fit to compete in a digital and data-driven world. Not only can they find efficiencies, but they can also harness the value of their digital investments to develop the innovative and personalized solutions many of their customers are looking for and create a stronger, purpose-led employee experience.

Canadian banks are leaders in their communities and in all aspects of business, and they employ significant workforces across Canada. Who better than our Canadian banks to lead the upskilling journey, all the while having a sustainable, positive socio-economic impact on Canadian society.