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Staffing shortages in the financial sector in Poland: On technology, upskilling, work-life balance and employees vs. AI
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Photo: Cengiz SARI, Unsplash
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What competencies are in demand?
Poland's financial sector is facing serious staffing challenges, mainly due to a shortage of employees with the right technological skills. Among the most in-demand skills on the job market, those related to technology development dominate. Employers in the financial and real estate sectors point to difficulties in finding specialists in IT and data analysis, sales and marketing, and technical skills. There is also a shortage of administrative, office support and HR workers.
Upskilling is important, but it's not everything
Technological transformations, such as artificial intelligence and digitalization, are making it necessary for the financial sector to hire many specialists in this field. Nowadays,organizations must not only educate and train their employees but also ensure their comfort in the workplace.
Competition for a qualified worker
A survey cited in Hays Poland's "Salary Report" from late last year indicates that half of Poland's employers are experiencing a shortage of managers and specialists, and 36 percent rate competition for employees as high.
Employer and employee expectations: The game of wages and work-life balance
PageGroup's "Talent Trends" report indicates that staffing problems may be caused by a growing discrepancy between the expectations of employers and employees.
Salary and work flexibility issues are a particularly important concern. Nearly half of employees are not satisfied with their current salaries. However, earnings are not the only issue. Work flexibility, the ability to work remotely and work-life balance are becoming key aspects. For 45 percent of employees, work-life balance is the most important element they look at when choosing an employer.
Generation Z changes assumptions
Employers must also face the challenges of generational differences. Older generations find it difficult to understand and adapt to younger generations, especially Generation Z, for whom work is not a value in itself.
Artificial intelligence raises concerns for workers
The development of technology also raises concerns about the future of employment. While some professions may be threatened by automation and artificial intelligence, many experts promise that technology should support people, not replace them.
However, recent hiring and layoff trends seem to suggest that the relationship between AI and a human worker might be more competitive than cooperative. AI has been named as the cause of massive layoffs in various areas of the economy. In the United States, nearly 65,000 lost their jobs because of AI, in April of this year alone. On another side of the Atlantic, the British organization The Institute for Public Policy Research (IPPR), in its recent report predicts a bleak scenario in which up to 8 million jobs in the UK could disappear in the coming years due to artificial intelligence.
Sources:
Forbes, Almost 65,000 Job Cuts Were Announced In April-And AI Was Blamed For The Most Losses Ever
The Guardian, AI 'apocalypse' could take away almost 8m jobs in UK, says report
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