Novel approaches to banking sector talent management and digital skills development
Posted: Apr 21, 2022
Abstract
The contemporary banking sector stands at a critical juncture where digital transformation has ceased to be an optional strategic direction and has become an existential imperative. Financial institutions worldwide are grappling with the dual challenge of rapidly evolving technological landscapes and the corresponding transformation of required human capital competencies. Traditional talent management approaches, developed during eras of relative technological stability, prove increasingly inadequate for addressing the dynamic skill requirements of modern banking operations. This research addresses this gap by proposing and validating a comprehensive framework that reimagines talent management through the integration of emerging technologies and novel pedagogical approaches specifically tailored to the banking sector's unique requirements. Banking institutions face particular challenges in digital skills development due to the sector's stringent regulatory requirements, legacy system dependencies, and the critical nature of financial operations. Conventional training methodologies often fail to account for the cognitive complexities involved in transitioning from traditional banking roles to digitally-enhanced positions.
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