Wanted: Banks struggle to attract and retain talent

Corporate growth is compromised with the development of a critical gap in management expertise.

According to talent resourcing company Alexander Mann Solutions, the experienced management that created Asia’s economic miracle during the last 20-30 years is approaching retirement age.

“In fast growing markets such as China, the younger generation just leaving university and business schools does not have the real world knowledge needed to take organisations to the next level,” noted Martin Cerullo, Managing Director – Development – Asia Pacific for Alexander Mann Solutions.

The Recruitment Process Outsourcing firm said the situation has implications for Asia’s financial services enterprises. “Organisations will have to fight harder to acquire and retain talent in the region – and that requires skills that are still fairly scarce in this region."

Alternatively, according to the advisor, organisations can suck talent from other markets like the US or Europe, but that will impact the donor countries and drive up costs.