6/21/21-BottomLeaderboard- SHRM

The Top 6 HR Challenges Facing the Financial Services Industry

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The financial industry is one of the largest industries. It consists of several sectors, including the bank, investment firms, insurance firms, and property companies that see the commercial and retail needs of individuals. Their indirect impact on the economy is too vital to set aside. Since the pandemic hit the world in 2020, every industry has experienced cutting-edge change. This has forced everyone to adapt to new realities. The financial services industry, which was not big on dynamism, had to make changes too. First was working remotely alongside the increase in risks, uncertainties, and more workload for employees. The truth is, without the pandemic, the financial services industry runs a human-capital deficit system. Evolving technologies, new employment policies, and the pandemic make it more challenging. While this issue is not unique to financial services alone, this article discusses some of the challenges that the financial services industry face.

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