Within Great Resignation, Firms Must Adapt to Retain Employees and Engage Next Generation of Talent.

Press Release Changes to workplace culture are here to stay; new cross-practice examines the impacts of the Great Resignation across the financial services industry BOSTON - July 14, 2022—Amid the COVID-19 pandemic, rapid digitalization, and changing demographics, expectations around workplace culture have created more demand for flexibility and oftentimes an incentive to job hunt, a phenomenon dubbed the Great Resignation. In response, companies are rushing to adapt to new workplace culture expectations and more readily engage the next generation of talent. In a new cross-practice Impact Report, The Great Resignation and Resulting Talent Gap, research and advisory firm Aite-Novarica Group examines the impacts of the Great Resignation and talent gap across the financial services industry—including insurance, wealth management, capital markets, and banking—and how these segments can best respond to the changing world of work. “Changes to workplace culture are here to stay,” said Gabrielle Inhofe, Associate at Aite-Novarica Group. “Employees are looking for jobs that emphasize a healthy work-life balance, including remote and hybrid working options. Firms that are unwilling to adapt risk losing talent to firms that are flexible, innovative, and engaging.” A preview of the report is available online, and desk copies are available to qualified media. Please contact pr@aite-novarica.com or call Kaitlyn Labbe at +1.857.327.9442 for more information. About Aite-Novarica Group: Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. Visit us on the web and connect with us on Twitter and LinkedIn.