Other parts of this series:
- Millennials Value Influence, AI in Hiring – Talent & Organization Weekly News Update
- Millenials, “Silver Coders,” AI, and automation—Talent & Organization Weekly News Update
- “Pretirement” in Insurance, Cognitive Recruiting – Talent & Organization Weekly News Update
- Gender Pay Gap, Cloud in HR– Talent & Organization Weekly News Update
Here are the top news stories in talent and organization from this week.
AI’s impact on workforce debated
The impact artificial intelligence (AI) will have on the workforce is a subject of much discussion right now. At a recent panel discussion hosted by WIRED magazine, Accenture’s Narry Singh and George Marcotte contributed to a lively conversation covering many tech trends, including what AI might do to the workforce. Other topics discussed include virtual reality and the growing importance of partnerships in global business.
Young Wall Streeters eye the exit
A new survey from the Toigo Foundation and a New York talent sourcing firm has revealed high numbers of young financial professionals want to leave their jobs. From a sample of 300 early-career finance professionals, the survey found 50 percent want to leave their job within three years, and 20 percent are weighing leaving the industry altogether. The research, which comes amid media reports of a “talent crisis” in financial services, also identifies three themes to help recruit and retain employees: work towards inclusion, stand for something, and remember that easy fixes don’t go that far.
‘Silver Coders’ offer solution to tech skills crunch
The modern workforce is aging. By 2050, the largest age group in the workforce will be the over-50s. Yet many firms struggle to reskill older workers—especially in the tech industry, according to Gareth Jones, the CIO of UK talent consultancy the Chemistry Group. In an insightful blog post, Jones analyses the youth obsession of the tech sector, whose innovations and habits sometimes spill over into financial services through fintech and other means.
Workforce engagement predicts customer experience
The Rio Grande Credit Union runs its annual employee engagement survey four months before its annual member satisfaction survey. This year, the credit union noticed that results from the first survey predict results of the second. “We’ve made the local ‘Best Places to Work’ the past two years in a row,” said Bill Daily, Rio Grande’s vice president of marketing and member experience. “Our 2016 member satisfaction survey generated the highest score in the 15 years we’ve been tracking it.”
The credit union has prioritized boosting employee engagement, which it does with a dedicated budget, public celebration of employee success, and strategic sharing of employee and member engagement data.
“I don’t know if its correlation or causation but it’s there. It’s real. And it’s the first lever I’d recommend pulling to move member satisfaction.”
Labor shortage looms for insurers
By 2030, almost half of today’s insurance workforce will be retired. Filling those vacancies will be a challenge for the industry. The latest issue of Best’s Review, the industry report authored by longtime insurance analysts A.M. Best, looks at what leading insurers are doing to address this looming labor shortage. The issue also includes A.M. Best’s annual global insurance rankings.
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