Overview
HCLTech and University of St. Gallen, Switzerland- A unique academic collaboration
HCLTech believes in building an ecosystem to grow as well benefit all its stakeholders. As part of HCLTech’s strategic decision to grow our alliances in DACH region, we have invested in academic alliances. The new partnership with University of St. Gallen will bring industry-focused skill development to HCLTech and its customers to better meet the challenges of digital transformation. As part of this collaboration, University of St. Gallen will conduct an independent research to uncover the impact of technology changes on talent.
Objective of the Research
According to the World Economic Forum’s Future of Jobs Report, 75 million jobs are expected to be displaced by 2022 in 20 major economies. At the same time, however, technological advances and new ways of working could create 133 million jobs. These new positions – resulting from demographic shifts and economic changes, including rapid growth in new products and services and new technologies like automation, machine learning, big data analytics and cloud – will require massive reskilling of the workforce. As financial institutions, businesses, think tanks and governments look to prepare for the challenges ahead, there are pressing concerns on what route should they take. For the Swiss financial industry, the risks are even higher. Substitution effects can have a strong impact on the labour market. Objective of the research is to up-skill & re-skill local talent to stay relevant in the industry in the face of changing technology like AI, Automation, Cloud, Digital and Analytics.
Events at A Glance
PAST EVENT
HCLTech- ST. GALLEN UNIVERSITY ROUNDTABLE
DATE: 15TH JANUARY’2020
VENUE: ZURICH, SWITZERLAND
THEME: EFFECT OF TECHNOLOGY ON TALENT- EDUCATING AND RE-EDUCATING FINANCIAL INDUSTRY WORKFORCE
SUMMARY
HCLTech, in partnership with University of St. Gallen, Switzerland, jointly hosted an exclusive and invitation-only executive roundtable in Zurich on January 15, 2020. The event fostered an engaging discussion on research conducted by the department of Information Management of the university. The research is conducted on the topic – "Future trends and requirements in educating and re-educating the workforce in the financial industry."
The objective of our study was to understand the implications of recent developments in the financial industry for the management of the workforce
Topics of discussion
The roundtable discussion will take place on the below mentioned topics that are particularly relevant for leaders and executives in the Swiss banking and insurance industry:
Customer Experience Design
Organizations need to focus on how to provide exceptional customer experience to so that they are at the top of customer’s mind
Incubation and Innovation
How to enable horizontal connects within organization, counter fierce competition and enable meaningful experiences
Agility and Agile Culture
Implementing agile in a meaningful way is a cultural change that challenges existing structural process. This can be addressed with organizational flexibility
Digital Workforce Enablement
Organizations need to enable workforce to use new collaboration tools
Simplification of the application landscape
Implementation of a simplification strategy is an opportunity to increase speed to market
Automation & Efficiency Programmes
Many simple and repetitive tasks will be automated in the future
Summary
With this roundtable, University of St. Gallen will be publishing a research report with findings and conclusions duly incorporated to give a better view on the effect that technology is having on talent. It will give us an idea whether re-education of financial services workforce is a must or it is just a hoax.
This report by Information Management department of University of St. Gallen will be based on real-time interviews of CXOs, CXO-1 and decision makers of top financial institutions.