July 14, 2022 – Amid the COVID-19 pandemic, rapid digitalization, and changing demographics, younger baby boomers are retiring earlier than expected, while midcareer and younger employees are switching jobs at an astronomically high rate. This phenomenon—dubbed the Great Resignation—has resulted in a talent gap, a labor shortage that has had firms in the financial services and cybersecurity dramatically rethinking their approach to retaining and attracting talent.

This report analyzes the Great Resignation and subsequent talent gap, and how financial services firms can best respond to the changing world of work. This report, which includes sections by representatives of each Aite-Novarica Group practice, draws on surveys, expertise, and quantitative and qualitative desk research.

This 36-page Impact Report contains seven figures and one table. Clients of Aite-Novarica Group’s Capital Markets; Wealth Management; Commercial Banking & Payments; Retail Banking & Payments; Healthcare Payments; Life, Annuities, & Benefits; Property & Casualty; Cybersecurity; Fraud & AML; Customer Experience; or Financial Services CIO/CTO Advisory service can download this report and the corresponding charts.

This report mentions Alphabet (Google), Amazon, Apple, Facebook, and Microsoft.