Almost two thirds of financial services firms say their management team is not diverse, in addition to 67% of firms who say they don’t have a pipeline in place for when management positions become available according to our new survey.
The results of our 2014 Employer Skills Survey, which targets leaders and managers across the sector, show that firms are largely positive about the skills of their existing workforce but do have issues where skills action could really help.
Having analysed the responses, we wanted to share them with employers across the sector and to remind employers of the various products and service we offer that may provide some address to the challenges identified.
As an example, our recently developed Statements of effective practice for Boards are freely available to employers and are beginning to prove highly effective in helping Boards to address issues such as diversity and establishing a more positive and inclusive culture across the organisations they govern.
Of equal concern, our survey revealed that only one third of respondents have a pipeline in place for management positions. Where we have developed initiatives such as Through the Glass Ceiling to support more female professionals to realise their management and leadership potential at work, we can help organisations to put together specific strategies for workforce planning. In support of your business plan and to build upon your current strengths we can help you to shape a plan and interventions to ensure that you are developing the leaders and managers you need for tomorrow.
The main drivers for change were reported as improving efficiency and effectiveness, doing more with less, improving organisational culture and meeting legislation changes, and aligning with government policies.
The survey also revealed that employers are proactive about offering opportunities to breathe new life into the sector – almost two thirds offer work experience to young people. What’s more, more than half of the employers have increased the graduate intake in recent times but less than a third are employing at least one apprentice.
To find out more or to discuss help you require with any specific skills needs, please email us
We are working on a final report of the Employer Skills Survey. Please visit our research pages