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Workforce transformation services
In Banking and capital markets
The digital revolution, geopolitical factors and generational shifts are all factors driving increased urgency for banks to radically transform the workforce to compete for talent and customers in a dynamic market.
What EY teams can do for you
EY Workforce transformation services in banking and capital markets are comprised of workforce strategists and technical professionals who are dedicated to improving the financial services workforce across the globe.
Combining deep banking industry knowledge with principles of effective workforce management, including business transformation, EY professionals help solve the most complex workforce challenges in banks of all sizes and operating models. Some of these challenges include:
- How can we put humans at the center of our transformational programs?
- How do we get the right people, in the right place, at the right time?
- What competencies do we need today and tomorrow – and how do we get them?
- How do we build a digitally and data-enabled workforce?
- What do regulatory mandates, environmental, social, and governance (ESG) and geo-political factors mean for our workforce?
- How do we attract, retain and motivate the best banking talent?
As a trusted advisor to the world’s leading banks on the full spectrum of workforce-related issues, we provide a comprehensive range of services.
Organization and workforce transformation
Banks must be prepared to address market demand. Whether it is keeping pace with digital innovation, adapting to a post-COVID-19 pandemic era, managing recessionary risks, or bolstering ESG commitments, banks must continuously transform and rethink their operating models in response.
However, a critical piece of the operating model is the workforce – including its size, profile, and capabilities. EY Organization and Workforce transformation services help banks align their workforce to their organizational needs – both today and tomorrow. EY teams can help with:
- Operating model and organizational design
- Workforce strategy and planning
- Talent management (including skills design, succession planning, career pathing)
- HR transactions and people in deals
- Learning and digital engagement
- Change management
People experience
The pandemic created unprecedented flexibility and ways of working that cannot be ignored. At the same time, Gen Z is entering the workforce, with new rules of engagement and employment demands. To attract and retain the type of digital talent that is needed to deliver the customer-centric experience that is now expected, banks must put the people experience at the heart of their workforce strategies and talent programs.
EY people experience services can assist by providing innovative, industry-relevant support in the following areas:
- Learning and development services
- Digital work enablement
- Employee value proposition
- Purpose, leadership, culture and diversity, equity and inclusion
- Total rewards
- Workforce analytics
HR transformation
To navigate the rapidly evolving talent landscape, leading-class HR capabilities are required. To help CEOs, chief HR officers (CHROs) and other banking leaders optimize the performance of HR functions and delivery of HR programs, a number of services are provided.
- HR operating model and organizational design
- HR policies and procedures
- HR governance
- HR technology and data
- HR strategy
People mobility
The race for talent requires banks to broaden their global talent strategy with a renewed sense of purpose, recognizing that the people experience is as important as the process. With the easing of COVID-19-pandemic related restrictions, many banks have ramped up deployment of talent and are navigating the compliance risks associated with business travel, remote work policies, and more. Providing a compliant people mobility service that is frictionless and digitally-enabled is a central element of the people experience.
EY people mobility services combine compliance, regulatory and advisory support to help banks create a cross-functional approach to cross-border business. Services range from global immigration, travel risk and compliance through to employment tax and compensation accumulation to social security, all accessible in EY Mobility Pathway. By combining these services with others within the broader EY workforce transformation portfolio, banks can transform their workforce mobility programs to create positive, life-changing experiences for their people and their families, while promoting global growth and opportunity for their business. EY teams can help with:
- Core mobility services
- Immigration
- Hybrid work and business travel
- Mobility managed services
Our latest thinking
Three ways to unleash the power of people in banking transformation
Banks need to adopt a fail-fast culture, actively engage employees and diversify employee backgrounds and skillsets. Learn more.
If transformation needs to be bold, do banks have the right tools for success?
EY discussions with banking transformation leaders across the globe uncover six recommendations for overhauling organizational change. Learn more.
How can reimagined mobility help organizations see reward and not risk?
Unlock insights from the EY 2023 Mobility Reimagined Survey showing workforce mobility’s reality doesn’t always live up to potential. Read more.
How bank CROs are responding to volatility and shifting risk profiles
The EY/IIF global bank risk management survey shows that banks must manage multiple interconnected risks and the impacts of external events.
How can a rebalance of power help re-energize your workforce?
Explore the EY 2023 Work Reimagined Survey with global insights from 17,050 employees, and 1,575 employers, revealing the contours of workforce realities.
How will you reframe the future of advice if today’s client is changing?
Find out how wealth managers and private banks can enhance their clients’ lives using a blend of people and technology to deliver personalized advice.
Why workforce resilience is now a critical focus for bank CROs
The 11th annual EY/IIF global bank risk management survey reveals the growing importance of workforce resilience in the wake of COVID-19. Get the details.
