Tapping into the aging workforce in financial service

As more and more boomers put off retirement, financial services firms have an opportunity to put their skills, values, and tacit knowledge to good use. Learn what they bring to the table.

MOST financial institutions (FIs) across the globe are experiencing two broad-scale trends—a pervasive talent gap and a boom in the number of baby boomers still employed or seeking employment in their workplaces. (See the Methodology section for definitions of the various generations.) We believe these trends could converge powerfully, the second to help solve the first.

First, let’s look at the numbers. Just how big is the talent gap in financial services organizations, exactly? It’s very big and growing: A Korn Ferry study suggests financial and business services will likely be the most severely hit by a talent shortage, experiencing a deficit of 3 million professionals globally by 2020.1 That’s a huge gap, one already vexing many financial services firms as they search for the right talent to fill key roles.

Read the full article at: www2.deloitte.com