19 Spring | 2022 Find some winks and learn more at icba. org/reinsurance Rest easy with the comforting coverage available through ICBA Reinsurance. Full credit life and disability coverages for your customers’ unexpected surprises. Secure support from proven, A-rated carriers during uncertain times. Woven through with new fee income opportunities in the form of tax-advantaged dividends. The first step in finding a solution is to quantify the problem and address the main reasons for the current recruitment challenges. There are two problems in finding employees with the right skills. First, economic downturns often cause students to pursue something other than a finance career. Second, digital technology has created new finance roles. Instead of only looking for people who are well-versed in finance, organizations are now looking for people who have a background in data science, artificial intelligence or software. Another reason for the employee shortage is the Great Recession and the years after it ended. Those were low economic years. Many people left the financial services industry and went to work somewhere else. Those people have probably advanced by now to management positions in other industries, but they’ve left a gap behind. The industry has fewer professionals in management than would have been the case without the severe downturn. Continued on page 20 To attract and retain talent, the most effective strategy is to keep as many good employees as possible, so start by developing a retention program for your best employees.
RkJQdWJsaXNoZXIy MTIyNDg2OA==