Consumer and Commercial Financial Services

Investing in proven talent strategies to secure your future

The banking industry is reinventing itself. Ongoing digital transformation is leading banks to focus on innovation, preparing for a tech-driven future. With the rise of FinTech and other disruptive technologies, banks have been forced to transition away from traditional ways of doing business. Combine the push for digitalization with intense competition, global economic uncertainty, and a restrictive regulatory environment, and all banks must find new ways to improve operational efficiencies and offer exceptional customer experiences.

To deliver on the promise of technology and avoid falling victim to the risks inherent in change, banks need a new set of strategies and, to execute them, a new breed of leaders. As senior-level talent retires, banks will also need to find the next cohort of executives—and ensure they have the skills to connect the dots between the tech and financial services worlds.
 
The Korn Ferry team of highly specialized banking consultants can help you find talent to bridge the gap. We deliver end-to-end talent solutions tailored to our banking and FinTech clients of all sizes, from start-ups through multinationals. With candidate profiles on over 1 million banking professionals and assessment and rewards data on over 2 million financial services professionals, we have the insights and reach to help you create a leadership pipeline and cultivate emerging talent to maximize your productivity and profitability.

Where we can help

Your performance and results are what matters. We partner with you to continually evolve and optimize to reflect the changing needs of your business. We have helped our banking clients address challenges like these:

Improving diversity and inclusion

Wall Street has long struggled to create more diverse and inclusive cultures. Although many financial services organizations have run campaigns to improve its hiring and engagement of diverse employees, those efforts have not created a sustainable pipeline of diverse talent. As a result, few women and people of color make up banks’ leadership ranks. 
 
We help banking clients adopt a systemic approach to diversity and inclusion. We work with you to build the two critical pillars of a diverse and inclusive organization: behavioral inclusion, where we enable leaders and employees to recognize and mitigate bias, and structural inclusion, where we reshape your talent processes to ensure these are fair and equitable. In short, we show you how to eliminate exclusionary preferential patterns and adopt equitable practices that allow you to maximize the full potential of your workforce.

Managing digital transformation

Digitalization continues to revolutionize traditional banking. Whether the goal is to enhance the customer experience, reduce bottom-line costs, or grow market share and reach, digitalization plays an important part in achieving banks’ goals. But the benefits of digitalization—higher productivity, lower transaction costs, greater capital efficiency, and stronger operational resilience—require banks to develop new capabilities in existing talent and to attract, engage, and retain new talent that can stay connected with consumers and businesses. Banks also need leaders who are ready to drive the transformation journey.  

We work with banks to establish the key supports for digital transformation. To capture new opportunities in the banking market, and thrive during disruption, you’ll need a workforce teeming with learning agility.

Our research has shown that companies with a highly agile workforce have 25% higher profit margins than its peers. You’ll also likely need to evolve your culture. Most banks prize traditional values, such as limiting risk and ensuring predictability. We help banks embrace disciplined risk-taking that allow them to seize the opportunities that FinTech and technology present. Finally, we develop strong employer branding to attract qualified talent across compatible industries and more deeply engage existing team members. 

Building a leadership pipeline

Preparing successors requires an organization to understand its internal talent pipeline and to develop a thoughtful and transparent succession strategy. But fewer than a third of financial services executives (28%) believe there’s a ready-now successor to their position. And only 56% believe their organization has a comprehensive succession plan.

Our banking consultants offer actionable, research-backed insights that help our banking clients understand and develop the talent they have. We create an executive Success Profile, aligned to your organization’s strategy, to show you whether you’ve got the talent you need for the future. Our leadership assessments will assist you as you decide how to allocate your resources: in learning and development for high potentials or in recruiting new prospective leaders. Then we help you implement succession strategies and planning processes, so you can map out generations of future leaders.  

Let us be part of your success story

Contact us and see how our industry expertise can help you achieve your business goals.

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