Key Highlights
- 78% of financial services firms have accelerated their upskilling programs since 2020
- 62% of financial institutions plan to increase their investment in employee reskilling over the next year
- 45% of financial sector employees consider digital skills their priority for upskilling
- 54% of financial companies report struggling to find candidates with future-proof skills
- 89% of financial service firms have implemented reskilling initiatives focused on data analytics
- 60% of financial institutions use online platforms for employee upskilling
- 73% of financial services companies report increased budgets for upskilling post-pandemic
- 68% of financial professionals feel more confident in their skills after participating in reskilling programs
- 45% of financial firms see automation as a major driver for their reskilling efforts
- 52% of financial industry HR leaders believe that reskilling reduces turnover rates
- 80% of financial services companies plan to incorporate AI skills into their upskilling programs by 2025
- 70% of financial firms find it challenging to measure the ROI of upskilling initiatives
- 65% of financial institutions now offer micro-learning modules for employee reskilling
As financial institutions race to upskill and reskill their workforce, with 78% accelerating programs since 2020 and nearly half prioritizing digital skills, it’s clear that continuous learning is no longer optional but essential for staying competitive in a rapidly transforming industry.
Workforce Development and Upskilling
- 78% of financial services firms have accelerated their upskilling programs since 2020
- 62% of financial institutions plan to increase their investment in employee reskilling over the next year
- 45% of financial sector employees consider digital skills their priority for upskilling
- 54% of financial companies report struggling to find candidates with future-proof skills
- 89% of financial service firms have implemented reskilling initiatives focused on data analytics
- 60% of financial institutions use online platforms for employee upskilling
- 73% of financial services companies report increased budgets for upskilling post-pandemic
- 68% of financial professionals feel more confident in their skills after participating in reskilling programs
- 45% of financial firms see automation as a major driver for their reskilling efforts
- 52% of financial industry HR leaders believe that reskilling reduces turnover rates
- 80% of financial services companies plan to incorporate AI skills into their upskilling programs by 2025
- 70% of financial firms find it challenging to measure the ROI of upskilling initiatives
- 65% of financial institutions now offer micro-learning modules for employee reskilling
- 67% of surveyed financial professionals recognize that upskilling can lead to faster career progression
- 39% of finance companies are investing in virtual reality training for complex procedural skills
- 58% of financial firms report that their reskilling efforts have directly contributed to increased customer satisfaction
- 74% of financial institutions plan to expand their AI-related reskilling programs in the next two years
- 42% of financial services employees feel that their current skills are not aligned with industry needs
- 54% of financial firms have partnered with educational institutions for reskilling initiatives
- 76% of financial service companies prioritize reskilling in risk management and compliance
- 83% of financial services firms anticipate a talent shortage in emerging technologies within the next five years
- 47% of financial institutions are now offering dedicated reskilling programs for fintech innovations
- 69% of financial firms report that their upskilling initiatives have improved overall productivity
- 55% of financial services companies report high employee engagement levels following upskilling programs
- 49% of financial recruiters say they increasingly seek candidates with reskilling experience
- 58% of financial service organizations are planning to increase investment in VR/AR training tools
- 63% of financial firms believe that reskilling helps mitigate skills obsolescence caused by technological change
- 72% of financial companies have identified cybersecurity as a critical area for reskilling
- 66% of employees in financial services feel that continuous learning opportunities increase their job satisfaction
- 80% of financial firms plan to implement more personalized upskilling plans driven by AI analytics
- 57% of financial institutions have reported that reskilling has resulted in improved audit outcomes
- 44% of financial services organizations believe that upskilling can close the gender and diversity gap
- 69% of financial organizations recognize reskilling as essential for digital transformation success
- 61% of financial institutions have integrated reskilling into their strategic planning
- 80% of financial firms perceive upskilling as a key to competitive advantage in the industry
- 52% of financial services companies have seen a reduction in skills-related layoffs since adopting reskilling programs
- 74% of financial service firms report that reskilling initiatives have helped retain top talent
- 65% of financial companies believe that reskilling can help adapt to remote/hybrid work models
- 49% of financial services leaders see upskilling as essential in combating cyber threats
- 77% of financial institutions plan to increase their focus on reskilling underserved employee segments
- 55% of financial services companies focus their reskilling efforts on emerging risk and compliance areas
- 68% of financial firms aim to develop internal training programs aligned with future industry needs
- 63% of financial institutions believe that continuous reskilling can help address talent shortages
- 50% of financial organizations have incorporated gamification into their upskilling curricula
Workforce Development and Upskilling Interpretation
Sources & References
- Reference 1PWCResearch Publication(2024)Visit source
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- Reference 3DELOITTEResearch Publication(2024)Visit source
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- Reference 5EYResearch Publication(2024)Visit source
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- Reference 8MORGANSTANLEYResearch Publication(2024)Visit source
- Reference 9GARTNERResearch Publication(2024)Visit source
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- Reference 11KNOWLEDGEHUTResearch Publication(2024)Visit source
- Reference 12CIGIONLINEResearch Publication(2024)Visit source
- Reference 13EDWEEKResearch Publication(2024)Visit source
- Reference 14FINTECHMAGAZINEResearch Publication(2024)Visit source
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- Reference 16TANDFONLINEResearch Publication(2024)Visit source
- Reference 17MCKINSEYResearch Publication(2024)Visit source