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A talent shortage for European banks
As European banks grow and expand their geographic reach in an increasingly competitive landscape, they’re finding it ever more difficult to fill critical positions with qualified people. Indeed, recent interviews with top HR executives of European banks reveal that they face shortages in the sheer number of top-notch executives they need, as well as in the specific skills executives must have for banks to execute their business plans.The 13 banks represented in our study can be grouped into three distinct categories based on the relative effectiveness of their talent-management practices. Even the intermediate and advanced banks have much room for improvement. The common theme is that the CEOs and top executives of banks must personally endorse and live talent management, so that an understanding of its importance percolates throughout the organization.
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