Workforce transformation services
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
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
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
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
- Hybrid work and business travel
- Mobility managed services
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