A new, risk-based approach to HCM allows global financial services companies to achieve long-term business advantage by better assessing future risks, and aligning them with current people management activities within the overall strategic direction.
Financial services firms rely heavily on their people to enable them to succeed. Achieving strategic change and a sustainable return to growth depends on attracting, retaining and developing the right staff. Companies are increasingly appreciating the importance of helping their people realise their potential. At the same time, firms need to cut costs, and are challenging Human Resources (HR), along with other front and back office functions, on their operating model and contribution to the business. Instead of simply reporting and managing lagging indicators like attrition, leaders want HR to help them understand the wider people risks and impact of macro-economic change, and the causal relationships involved.