As the financial services industry continues its recovery, the focus remains on strengthening risk management and navigating a complex regulatory environment with higher operating costs. At the same time, firms must find growth strategies amidst the potent mix of low interest rates, moderate global economic growth, and heightened competition for customers. Leveraging technology to reduce costs, connect with customers, and deliver innovative new products will be key. Technological disruption brings opportunities to lower costs and open market access, as well as threats, as new competitors emerge from outside the industry and bust status quo business models.

Financial services companies are under pressure to evaluate what digital technologies will mean for their workforce as traditional roles are automated. They must get their people ready for a digital world—whether that means retraining or recruiting. As technology rapidly advances, the workforce may become smaller in some areas, but grow in occupations requiring mathematical, computer, and analytical skills.

Finance & Insurance: By the Numbers

Insurance leaders:
Insurance Leaders graph
Source: PwC’s 2016 Global Data and Analytics Survey: Big Decisions: U.S. Financial Services respondents
Aspects of talent strategies that are being changed in order to have the greatest impact on attracting, retaining, and engaging talent
Pipeline of leaders for tomorrow: 47%. Workplace culture and behaviors: 43%. Effective performance management: 36%. Pay, incentives, and benefits: 36%. Skills and adaptability in our people: 28%. Reputation as ethical and socially responsible: 27%.
Source: FS Respondents of PwC’s 19th Annual Global CEO Survey, 2016

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