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WRAP-UP
EMERGING TRENDS IN FINANCIAL SERVICES INDUSTRY AND THEIR IMPACT ON THE WORKFORCE
31 MARCH 2016
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THE WORLD IS CHANGING…
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Glocalization 2.0International competition is growing and becoming even more diversified with a higher risk
Steering your organization through the perfect storm
SIX MEGATRENDS YOU NEED TO UNDERSTAND
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THE WORLD IS CHANGING…
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Environmental CrisisScarcity of natural resources leads to challenges in corporate branding and supply chain management
Steering your organization through the perfect storm
SIX MEGATRENDS YOU NEED TO UNDERSTAND
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THE WORLD IS CHANGING…
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Individualization & Value pluralismCustomers and employees expect attention to their individual needs, dismissing the concept of loyalty.
Steering your organization through the perfect storm
SIX MEGATRENDS YOU NEED TO UNDERSTAND
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THE WORLD IS CHANGING…
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The Digitization EraHigher access to smart technology changes global residential behaviour as well as business operation and big data analytic
Steering your organization through the perfect storm
SIX MEGATRENDS YOU NEED TO UNDERSTAND
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THE WORLD IS CHANGING…
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Demographic changeGlobal workforce paradigm is shifting rapidly with expected proportion of 25% in 2016
Steering your organization through the perfect storm
SIX MEGATRENDS YOU NEED TO UNDERSTAND
Note: Graphic sourced from Thaipublica, NESDB
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THE WORLD IS CHANGING…
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Technological convergenceNanotechnology and biotechnology merge, creating a massive wave of technological advances.
Steering your organization through the perfect storm
SIX MEGATRENDS YOU NEED TO UNDERSTAND
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WHAT HAS IMPACTED FINANCIAL SERVICES,
MOST?
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DIGITALIZATION IS FORCING BANKS TO UNDERGO THE MOST EXTENSIVE TRANSFORMATION IN THEIR HISTORY
Branches
Major channel to serve customers
Mobile/Online banking
Expantion of channels to attract customers and compete with newcomers
Digital wallet / Social media
banking
Moving to social media to „anchor“loyalty
Leveraging data and points of contact to anticipate needs and create relevant value
The term 'digital' is the core of a transition and getting digital banking right is a matter of life and death for banks today
NextNow
Near Field Communication
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FOCUS IN BANKING SECTOR: RETHINKING BANKING SERVICES FROM A PUSH TO A PULLMODEL
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Customer
Product
Regulator
Customer
Technology Technology
…before …now
Product
Regulator
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IMPLICATIONS ON CHANGE OF ORGANIZATION AND HUMAN CAPITAL IN FINANCIAL SERVICES INDUSTRY
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“Banking is no longer
somewhere that you go,
it’s something that you do”
Mindset change Organizational change
Cultural and behavioral change
Changing roles and jobs
Changing people profile
Demand for new leadership
style
Changing recruitment philosophy
Changing T&D philosophy
Note: The first edition of BANK 2.0--#1 on Amazon's bestseller list for banking and finance in the US, UK, Germany, France, and Japan for over 18 months
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WHAT KEEPS FS CEOAWAKE AT NIGHT? How to manage balance between
legacy clients and “new” customer?
Who and how to serve both?
How to keep competitive in terms of product range?
Do we still need so many branch network as digitalization?
Do they have right skillset for current and future to serve both?
How to Ensure security to manage unpredictable and uncontrollable risks?
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IF BSC IS THE WAY TO CLARIFY STRATEGY,
SWP IS THE WAY TO TRANSLATE ITS
STRATEGY TO REAL EXECUTION
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THE 5 RIGHTSRIGHT SIZE
The required number of people for the jobs that are
needed to achieve the strategic goals efficiently
and effectively
RIGHT SHAPE
The right composition of workforce, in terms of
structure and purpose, in –and outsourcing, as well as
the appropriate diversity mix
Clarity about the capabilities that are necessary and pivotal to bridge current gaps and meet future goals
RIGHT SKILLS
Availability of people with the right capabilities at the right locations, ensuring critical mass, to meet changing requirements RIGHT SITE
RIGHT SPEND
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CASE STUDY: RETAIL BANKING
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“DYNAPLAN COMBINES CONSISTENT METHODOLOGY WITH A POWERFUL PLANNING TOOL AND A STRONG CUSTOMER FOCUS. AS A RESULT, THERE IS A CLEAR ADDED VALUE TO STRATEGIC WORKFORCE PLANNING, AND HR IS STRENGTHENED AS A BUSINESS PARTNER.”
Frank VonderlindLeiter HR Strategy & Research
Commerzbank
“THANKS TO SIMULATION WE ACHIEVE CLEAR AND JOINTLY BACKED ASSESSMENTS OF BUSINESS SCENARIOS.”
Armin GläserHR Management Information Services
Deutsche Bank AG
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DEFINE CRITICAL ROLES – ensuring which positions are critical to help you win the battle
DEFINE CRITICAL SKILLS & KNOWLEDGE NEEDED –ensuring your people capable enough to win the battle
DEFINE RIGHT SHAPE – ensuring right people structure that flexible to adapt for competing in the battle
HELP & HIRE WORKFORCE – ensuring sustainable demand and supply of workforce
DEFINE OPTIMAL HR COSTS – ensuring you have high productivity HR cost for competing in the battle
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http://www.haygroup.com/en/your-challenges/strategic-workforce-planning/
THANK YOUFOR MORE INFORMATION PLEASE CONTACT.HAY GROUP LTD.18TH FLOOR UNIT 3, Q. HOUSE LUMPINI,1 SOUTH SATHORN ROAD, THUNG MAHAMEK,SATHORN, BANGKOK 10120, THAILANDTEL: (02) 677-7515
FAX : (02) 677-7505