‘Twas the month before new year, when all through the org, leaders finalize strategic plans that will satisfy the board. Managers boast internally about how their teams have thrived, and employees shirk responsibilities as the holidays arrive.
As many financial services leaders get ready to take a short break before diving head-first into 2023, I wanted to share some essential reading for leaders over the holidays. Not only are these some of our most popular blogs from the past year, but they provide insight into critical priorities that leaders are struggling with, according to our recent business priority survey.
So have seat by the fireplace. Grab a cup of hot cocoa or a glass of eggnog. And dive into these essential reading items for financial services leaders.
Three Ways to Meet Employes Demands in Financial Services
By Michael Horney
Just 25% of financial services leaders are confident in hiring and retaining talent in today’s market. Despite this challenge with hiring, many organizations have artificial barriers to entry with their current talent pool. (See my colleague Kyle Owen’s blog about inclusivity in the hiring process.) And as I wrote last month, compensation increases may help with hiring and retaining talent in the short term. But there are more impactful things you can do to hire and keep top talent, like creating a sense of purpose, enabling radical flexibility, and prioritizing career and skill development.
Four Ways to Win On ESG Goals
By Jasleen Sindhu
Only 34% of financial services leaders are confident in investing in or expanding ESG initiatives. Most executives I speak with would agree that this is “important.” Still, few are making progress because the long-term benefits to customers are not as definitive as other critical priorities. As my colleague Sophia Palmstedt pointed out, ESG is something the next generation of customers really cares about. And our research from earlier this year demonstrates how leaders are exploring new ESG initiatives, like inclusive banking or green investing.
8 Success Factors to Expand Your Value Proposition Beyond Financial Services
By Ben Seesel
Just 35% of financial services leaders are confident in exploring partnerships and ecosystems with other companies. Like any strong partnership, it comes down to identifying a business or technology goal, assessing internal capabilities, and evaluating how a fintech or third party can improve the necessary capabilities to achieve that goal. Many financial institutions struggle to engage with and evaluate fintech capabilities. Others fail to see the benefits of partnerships altogether. Not only can fintechs and vendors advance your capabilities to better serve today’s customers, but they can also help you evolve your value proposition to expand beyond “traditional” services offered by a financial institution. My colleague Micah Margolis recently outlined a couple of good examples of successful partnerships.
5 Questions to Ask for #NoRegrets Technology Purchases
By Gladys Yeo
Just 40% of financial services leaders are confident in accelerating investments in new technological capabilities. This includes technology like blockchain, public cloud, APIs, and microservices. This lack of confidence stems from uncertainty about how these technologies will benefit the financial institution. Regardless of the technology, there are specific questions financial services leaders should consider before purchase and implementation. And Ben Seesel recently spoke about how some of these technologies will be crucial for the future of banking.
Conclusion
As you move into the new year, remember: our Gartner experts are here to help you with your priorities and these essential readings are just the tip of the iceberg. Just like Santa, we have a workshop of tools, survey data, case studies, and guides that will inspire confidence in 2023. Schedule an inquiry to discuss your strategic priorities!
The Gartner Blog Network provides an opportunity for Gartner analysts to test ideas and move research forward. Because the content posted by Gartner analysts on this site does not undergo our standard editorial review, all comments or opinions expressed hereunder are those of the individual contributors and do not represent the views of Gartner, Inc. or its management.