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:

Our latest thinking

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.

12 Sep 2023 Liz Fealy + 1

How banking on Gen Z talent will make or break the future of banking

To attract talent with tomorrow’s skills, banks will need to win over a Gen Z workforce. Learn more.

10 Jul 2023 Jan Bellens + 3

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.

17 Mar 2023 Jan Bellens + 2

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.

15 Mar 2023 Joost Smits + 2

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.

10 Jan 2023 Jan Bellens + 4

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.

10 Jan 2023 Jan Bellens + 2

How do you harness the power of people to double transformation success?

Read about how EY and the University of Oxford explored the emotional cost of failed transformations and what it takes to get them right.

20 Oct 2022 Errol Gardner + 2

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.

03 Mar 2022 Jan Bellens + 3

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.

14 Jan 2022 Heidi Boyle + 1

    The team

    Jan Bellens

    EY Global Banking & Capital Markets Sector Leader

    Passionate leader on innovation in financial services, especially in emerging markets. Global citizen. Keen traveler.

    New York, USA

    Stefanie Coleman

    Principal, People Advisory Services, Ernst & Young LLP

    Workforce transformation leader advising the world’s leading banks on strategic people issues. Australian in New York, mother of girls, fitness and food enthusiast.

    New York, USA

    Michael Schoonmaker

    EY Americas People Advisory Services Reward Leader

    Leader of the EY total reward resources in the Americas. Focused on aligning compensation and benefits with business objectives. Father. Avid reader. Runner.

    New York, USA

    David Storey

    EY EMEIA Workforce Advisory Leader

    Helps clients transition into the Future World of Work. Frequent speaker. Entrepreneur. Fascinated by politics. Family man.

    London, GBR

    Heidi Boyle

    Principal, Financial Services Workforce Consulting, Ernst & Young LLP

    Passionate about helping people thrive in the workplace and creating a sense of belonging for all. Writer. Musician. Cooking enthusiast.

    Chicago, USA

    Simon Stanaway

    EY Americas Mobility Leader

    Passionate about implementing people and digital solutions for transforming businesses. Husband to Veronica and father to Dylan. Very active in local community and active Board Member at Bronxworks.

    New York, USA

    Joost Smits

    EY Global People Advisory Services Mobility Leader

    Experienced people advisory leader who strives to align corporate objectives to enhance mobility ecosystems. Loves cycling, sports and his family.

    Eindhoven, NLD

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