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[Infographic] The Costs of Hiring Lag in Financial Services

Published: March 30, 2020 In: Recruitment Best Practices

Nearly 90 percent of professionals in the BFSI sector rated Talent Acquisition as their worst nightmare, as reported in the State of Talent Acquisition Report 2019.

According to another recent CEO’s survey by PwC, 76 percent of Financial Services CEOs worry about the shortage of digital skills within their workforce, while 91 percent of them believe they need to strengthen soft skills such as creativity and emotional intelligence needed to innovate and connect with customers.

Recruiters across the financial sector are facing the same issue. There is a surge in demand for tech-savvy employees as the need for digitization in financial services increases. Not just that, problems such as skill gap, attracting and retaining the millennial generation, maintaining diversity in the workplace, and campus hiring add challenges further.

These challenges are bound to take a toll on your hiring process. The problem is not just to find the right talent, but also in time. Given all the challenges, top talent won’t survive in the market for more than 10 days. The cost of delayed hiring is tremendous and businesses often don’t realize how much they could be saving if only they have an efficient hiring process. This is why we have listed down 8 costs of hiring lag for you in the financial services.

Here are 8 Costs of Hiring Lag in Financial Services:


Costs of hiring lag in BFSI




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Tags: Recruitment Best Practices, Financial Services

Written by: Olivia Gomes

Olivia is a Content Marketer at Talview. She completed her graduation in English Literature and MBA specializing in HR, so she combined her two interests and now writes about HR tech updates and latest trends in the world of talent acquisition. Her other interests are traveling, writing, and deconstructing the psyche of people around her.

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