The Dubai International Financial Center (DIFC), in collaboration with the London Stock Exchange Group, today launched a report titled “The Future of Talent in Financial Services”, reaffirming Dubai’s emergence as a leading global hub for attracting talent.
“The Future of Talent in Financial Services” is the third in a series of reports covering recent trends emerging in Dubai’s financial industry. It provides an overview of the talent landscape in financial services and insights into what employees now expect from their employers.
The findings reveal a paradigm shift in employee priorities, pointing towards a significant focus on work-life balance, wellbeing and a range of other non-financial benefits.
In addition, talent increasingly seeks purpose, values and satisfaction in their daily work. The report’s findings provide employers with a wealth of data, intelligence and guidance that has the potential to reshape management styles in the industry.
Arif Amiri, CEO, DIFC Authoritysaying,
“As the leading financial services ecosystem in the MEASA region, DIFC is home to more than 39,000 people with more than 160 nationalities. In 2022, we create more new jobs than in any year since DIFC’s inception. Our commitment to nurturing talent is evident through initiatives such as the DIFC Academy, which offers world-class education, and the DIFC Innovation Center, which offers comprehensive training programs fostering collaboration between startups and financial institutions. The DIFC ecosystem is built on innovation, development, diversity and providing an enabling environment for global talent, and we are delighted that the Center continues to attract an increasing number of professionals from around the world.”
The new report, which delves into the post-pandemic needs of a rapidly changing financial services workforce, analyzes data from multiple renowned global bodies, including the World Economic Forum, which shows that 80 percent of companies plan to implement on-the-job learning and training over the next 12 months. It also reports a growing desire among employees to challenge themselves, with 77 per cent of employees ready to learn new skills or retrain entirely.
The report also suggests that employees who find purpose in their work tend to be more productive and are more likely to stay with the company. Additionally, if your sense of purpose is aligned with the organization’s purpose, the benefits extend to deeper employee engagement, greater loyalty, and a greater likelihood that they will recommend their employer to other talent.
The report indicates that management at financial institutions will need to consider the survey results if they want to take advantage of changing employee expectations and attract the talent they need. Employers who are receptive to remote and hybrid work arrangements are more likely to attract desired talent. They could also reconsider and adapt existing management styles to retain their most valuable employees.
News source: Emirates News Agency