Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
Big Four audit firm KPMG has said the UK financial services sector is facing a “talent crisis”, due to its “reputation and lack of social mobility”.
The firm said that at a time when competition for talent is “fierce”, 65% of the UK’s population would not consider taking a role in financial services – with the main reason being the perception that finance is “boring”.
Some 41% of people outside the sector said they wouldn’t work in financial services because it “sounds boring”. However, the firm said people working in finance are happier than average, with 87% of bank, insurance or asset management employees saying they like their job compared to 82% of workers in different sectors.
Tim Howarth, head of FS consulting, KPMG, said: “There’s clearly a gap between what the public thinks, and the realities of working in financial services. That has to be addressed if we are to attract the diverse mix of skills and experiences needed to navigate the changes going on in financial services and society.
“Technology and customer engagement is a priority for most of my clients right now, so people working in retail, leisure or IT could have a huge amount to offer. But, the sector has an image problem that’s putting off that talent.”
