Three-quarters of the financial Services industry is being ‘held back’ by a lack of digital skills leaving significant gaps in workforces, according to new research from strategic talent solutions partner FDM Group.
A staggering 75% of workers believe that their organisation has struggled to fill vacancies requiring digital skills, rising to 83% of workers aged 18-24, holding back the UK from becoming a global Science and Technology superpower.
The findings follow a survey of 250 decision makers at UK financial institutions and banks, polled via independent polling agency Censuswide, to discover how the Financial Services is being affected by the current skills crisis.
In a digitally advancing world, 91% of workers believe that improved digital skills would support the implementation of technology at their organisation highlighting the need for more opportunities for upskilling and training to allow organisations to enjoy the use of emerging technologies.
It was also revealed that 86% of workers agree that their organisation prioritised staff training and digital skills, with this figure rising to 92% of females that agreed.
Sheila Flavell CBE, Chief Operating Officer of FDM Group said: “Tech skills are essential across all industries, especially financial services with the increasing adoption in areas such as AI and analytics. A lack of tech proficient staff is holding back the industry from effectively implementing new technologies and is ultimately stunting the growth of many financial services institutions.”
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