Research

24 April 2024

Bridging the skills gap in a rapidly evolving sector - Skills for the future of Financial Services 2024

This research identifies new skills and talent trends and tracks the demand and supply of the new skills needed to power the growth of the sector. Despite persistent skills shortages the sector is experiencing, the report outlines the positive steps the industry has made to collectively prioritise skills in the Boardroom, increase skills forecasting measures and employee learning hours.

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28 November 2023

People + Technology: How Skills Can Unlock Value for Financial Services

This report, produced by the FSSC and supported by EY and PwC UK, is the result of forty-five interviews with sector leaders, senior stakeholders, and commentators. For the first time, we have been able to quantify skills proficiency gaps and produce new insights into how our workforce is changing. The result is a series of practical recommendations which will further intensify action, create skills-based organisations that can adapt to the tech-driven, people centred future we see approaching over the next decade.

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27 April 2023

Future Skills Report 2023

This report highlights increasing demand for 13 future skills, including data analytics, cyber security, software development and coaching, identified by FS firms over the last 12 months as critical for the sector’s sustainable growth. Despite organisations’ increasing their focus on skills forecasting and upskilling, demand for these future skills is approximately 20% short of supply, further widening the industry’s existing skills gaps. Findings from the report show data analytics skills are most in demand, with 1 in 8 job roles in financial services now technology centric – double the proportion of the wider economy. Furthermore, firms believe that the ongoing skills shortages are increasing operating costs and existing staff workloads, impeding opportunities for innovation and growth across the industry.

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24 April 2023

Menopause in the Workplace: Progress and Priorities' April 2023

This summary report produced in partnership with Standard Chartered, outlines the action undertaken by Financial Services Skills Commission members and wider industry on addressing the many barriers facing menopausal women in the workplace, which were highlighted in our initial research published in October 2021. The report outlines progress is being made by firms through the delivery of education and training initiatives and the menopause is now a Boardroom priority. This will ultimately help the industry retain and progress talent and build more inclusive working environments.

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October 2022

Menopause - What's changed

Menopause - What's changed, presents findings from a survey of Financial Services employers on how they are supporting employees with menopause transition.

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September 2022

Collecting Socioeconomic Background Data – Best Practice for Financial Services Firms

Insight Paper

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14 July 2022

Inclusion Measurement Guide (Updated from July 2021)

Our Inclusion Measurement Guide enables organisations to measure inclusion in three priority areas: analyse the behaviours and actions of employees, measure inclusion for the first time, as well as assist firms who are already using inclusion metrics to develop their existing data and analysis. This Guide is updated one year on from its original launch based on learnings from the pilot survey ran in partnership with Financial Services Culture Board (FSCB) in October 2021. We have revised the survey questionnaire based on FSCB’s cognitive testing insights and added a question on stereotyping as well as an updated list of demographic characteristics which firms can use to strengthen their internal metrics. Firms will be able to gain a more in-depth picture of inclusion across their workforce, identifying areas for development and improvement.

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24 March 2022

Mind the gaps – Skills for the future of financial services 2022

Our Future Skills report consolidates our member firms' insight on future skills and best practice in skills forecasting. Based on data from our Skills Gap Survey, our Member Survey, interviews and workshops, we have identified a set of five skills - three technical skills and two behaviours - which are crucial to future business success.

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23 February 2022

Inclusion across financial services: piloting a common approach to measurement

This report represents the largest sector survey in the UK on inclusion to date with over 3,000 employee responses. The findings showed that, while the majority of employees surveyed felt their managers promoted an inclusive environment at work, individual experiences differed by (for example) disability, ethnicity, tenure and leadership responsibility. This was particularly the case when it came to concerns relating to being stereotyped, speaking up about issues, and the perceived fairness of workplace processes.

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27 January 2022

Reskilling: A business case for financial services organisations

This report highlights the return on investment financial services firms can benefit from when they reskill an employee versus hiring someone new with the relevant skills.

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25 November 2021

Staying ahead in a changing world: the skills leaders need in financial services

This report outlines skills shortages across data and technology, communication and environmental, social and governance currently facing financial services sector leadership teams.

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18 October 2021

Menopause in the Workplace: Impact on Women in Financial Services

Menopause in the Workplace: Impact on Women in Financial Services reveals women’s experiences of the menopause impacts their confidence to perform their role.

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28 June 2021

Skills for future success: How financial, professional, and business services can address skills challenges to deliver recovery and growth in UK regions and nations

The ‘Skills for Future Success’ report sets out how financial, professional and business services can address skills challenges to deliver recovery and growth in UK regions and nations.

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May 2021

Financial Services Skills Commission Marketing Guidelines

The FSSC Marketing Guidelines set out key benefits to working in the FS sector which we recommend highlighting in career marketing materials and job applications to improve the attractiveness of the sector. Through a collaborative approach, consistent messaging from multiple firms should begin to change opinions of working in FS.

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January 2021

Keeping the pipeline of talent moving: making internships virtual

COVID-19 has introduced a global shift in how we work, impacting entire workforces. This research covers how some firms moved to online internships, keeping the pipeline for talent open.

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October 2020

Diversity Data: The challenges of data collection and developing a culture of self-reporting

Improved diversity and inclusion leads to better diversity of thought and therefore better business outcomes. Having the data available to analyse diversity is the crucial first step to being able to target improvements in workforce diversity and inclusion. Here we explore some of the barriers to collecting diversity data and how these can be addressed, highlighting examples of best practice.

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October 2020

The Future of Work: Lessons from a pandemic

COVID-19 has profoundly shifted how financial services workers want to do their jobs in the future. The sector has been able to successfully transition to a remote working model, with 78% of financial services workers surveyed saying they’ve been able to work effectively from home during this period. But the skills needs of those workers have changed, and what they want from their employers in future has shifted. Read our new research, conducted with KPMG, on the lessons from the pandemic.

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January 2020

Financial Services Skills Taskforce report

The the HMT-led Financial Services Skills Taskforce report sets out the actions that need to be taken to address the skills and talent crisis facing UK Financial Services.

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