The financial crisis left the business world with a fundamentally different competitive and regulatory environment. Now COVID-19 is creating different, but equally daunting challenges. Forward-looking financial services organisations recognise that a different strategy, set of skills, smart deployment of talent and the realignment of compensation structures are critical for adapting to the new reality of a post-crisis world.
In addition to attracting, nurturing and compensation talent, firms must now also grapple with remote working challenges as well as how and when to safely return to the workplace. It is therefore important to establish sound underlying principles for remuneration and development, while keeping safety in mind.
Ultimately, the commitment and behaviour of the people within your organisation will be critical in rebuilding the trust of consumers, markets and governments. Without investment, growth and profitability will not recover.
PwC is helping financial services organisations to develop the capabilities they need to respond to challenging market conditions and changing regulatory requirements. Our dedicated financial services team works closely with clients to ensure that key aspects of talent management, including recruitment, retention and reward, reflect and support the overall strategy of the business.