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Many changes in the workplace that were already underway were accelerated by the pandemic. In a now more borderless global village, we see the continuous rise of remote working and collaboration, digitization, upskilling employees, and offshoring qualified talent. 

These changes are here to reshape the future of work for many industries. This is particularly true for the Financial Services sector, as the talent shortage continues to hinder its growth. According to a report from PwC, the limited availability of talent in the Financial Services industry is a more pressing issue than changes in consumer behavior and increased competition.

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While braving the changing world can be overwhelming, it also presents many opportunities that will allow companies to future-proof their business, modernize their operations, and find capable talent that will immensely contribute to their growth.

At the core of the changing nature of work globally is technology. Embracing it and integrating it into your business will boost your way forward. As the world transitions into the digital era, the question of the value of the human element remains. Where do people go from here? Will machines start taking people’s jobs? How can the human workforce stay relevant?

Empower People with Technology

Planning your business in consideration of the rise of technology means promoting new ways of working and capitalizing on the best tools to better serve the market. The first step to achieving this progress is investing in upskilling your talent.

Many people are concerned about the possibility of technology taking over human jobs, but a number of industries still require human input to succeed. Customers today, especially in the finance and banking industry, demand a personalized, customer-centric experience that offers human connection.

Technology should not be deemed a threat. Instead, consider its potential to enhance the work experience of people helping them accomplish tedious tasks quicker, and solve complex problems easier. Harnessing the combined power of human connection and the speed and efficiency of technology brings us a powerful advantage to thrive in the digital transformation era.

The digital economy prompts companies to prioritize knowledge acquisition and upskilling for their talent pool. Investing in a learning culture develops a solid skill inventory in your business and is as critical as investing in modern infrastructure and technology.

Creating New Opportunities with Offshoring

According to Global Workplace Analytics, remote work has increased by 91% in the last decade.  The COVID outbreak adds up to the adoption of agile work. In recent years, we have learned that people can be trusted to deliver work wherever they are. The workspace is now global, and country borders do not hold as much limit as they used to.

For financial services companies, the current situation presents opportunities to overcome the challenges of the talent shortage the industry is facing. Through finance and accounting outsourcing, your business can find outstanding qualified talent. 

Whether you are a big corporation, medium-sized business, or startup, opening doors to competent professionals beyond geographical constraints can offer great value to your company. The Philippines is one of the most popular offshoring destinations in the world. Because of its competitive and multilingual workforce, multinational corporations outsource talent to the country. With a cheaper cost of living in the country, the salary range of your Filipino talent is very cost-efficient. 

If your company is looking to enrich your pool of talent, finding the right offshoring partner is your first step. Satellite Office is more than just any traditional offshore outsourcing provider. In the past, we have proven to be effective at driving business growth for our clients by helping them find highly qualified offshore talents with specialized skills that match their needs.

Satellite Office can help you find industry-experienced talents to take on roles in accounting and finance; cybersecurity, IT and software development; back office support; and customer management. 

 

Looking for an offshore support service partner? Get a free assessment now, and let’s see how we can help.

 

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