We catch up with the latest employment trends in FinTech at the ABA Convention
The BNO Creative Labs team went to the American Bankers Association (ABA) Annual Convention to hear speakers such as Johnny Taylor, President and CEO of the Society for Human Resource Management (SHRM), and Vishal Patel, Global Marketing Director of the Duke Corporate Education, discuss the workforce challenges employers are facing as we head into 2022.
The talent war is real and worsening.
With 10 million open jobs, 40% of current employees looking for new positions, and an annual turnover rate of 25%, competition is only going to increase.
The hottest incentives being offered by employers right now are:
• Student loan repayment
• Open leave
• Pet insurance
• Tuition reimbursement
Remote and hybrid work continue to present challenges for onboarding, productivity, and team engagement.
In order for remote and hybrid work to be viable options at the office, managers face many challenges, from maintaining corporate culture to leveraging technology and changing up their leadership style to be empathetic, encouraging, and empowering.
The career pivot of millions of workers is being called the “Great Reset.”
Millions of people who paused working during the pandemic fully expected to pick up where they left off, but now are facing the prospect of starting over in completely new careers.
Customer preferences and employee preferences will converge.
Organizations built upon the principle of people-first will win. Happy and engaged employees (EX) often result in happy and satisfied customers (CX).
It’s important to have a corporate strategy that includes and addresses all generations in the workplace, and not just Millennials and Gen Z.
The labor shortage makes it likely that companies will have to rely upon a mix of different-aged workers in the workplace and learn how to manage and communicate effectively with all of them, including older Baby Boomers and Gen X. Right now, Millennials and Gen Z only make up 40% of the workforce. What are you doing to make sure you’re inclusive of the other generations in the remaining 60%?
Diversity significantly increases financial performance and returns.
Diversity provides a significant competitive advantage. According to McKinsey’s Diversity Wins 2020 Report, organizations with greater gender and ethnic diversity outperform their counterparts.
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