The future of financial services is flexible and automated
Insights from the KPMG American Worker Survey on how FS companies can thrive
The financial services industry is undergoing a significant transformation, driven by technological advancements and changing employee expectations. Our research, based on insights from the KPMG American Worker Survey, highlights key trends shaping the future of financial services.
Our recent research shows that seventy-two percent of financial services employees believe the future of finance will be more flexible and automated. This shift is being driven by technological advancements and the increasing demand for remote work options.
Automation anxiety? Not so fast.
Automation is already having a major impact on the financial services industry. Seventy-three percent of financial services professionals use automation tools at least weekly, and fifty-one percent agree that automation has improved their professional capabilities. Automation is helping financial services firms improve productivity, reduce costs and enhance customer service.
72%
of FS employees believing in a more flexible and automated future, and
73%
using automation tools weekly.
Flexibility is the new currency.
Remote work is also becoming increasingly popular in the financial services industry. Eighty-seven percent of financial services employees say that remote work has helped them balance home and work responsibilities. However, fifty-eight percent of financial services employees also value the social aspect of working in an office.
Upskilling is non-negotiable.
Upskilling is essential for career growth and talent retention in the financial services industry. Eighty-seven percent of financial services employees recognize the importance of upskilling, and twenty-six percent cite learning new skills as the primary reason for staying in their current role.
87%
of FS employees believe upskilling is essential for career growth, making learning and development key for employee retention.
The takeaway for financial services leaders
To attract and retain top talent, financial services firms must embrace automation, prioritize employee well-being, and invest in upskilling initiatives. Offering competitive compensation and benefits, flexible work arrangements, and a culture of continuous learning are also crucial for success in the future.
Download the infographic to explore more sector findings and to see how FS workers compare to the larger survey results.
Dive into our thinking:
American Worker Survey —Financial Services
KPMG explored attitudes on automation, upskilling, and flexibility
Download the infographicA new beginning
Insights from the KPMG American Worker Survey
To read the full findings and recommended actions that can help organizations build a resilient and innovative workforce
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