The BFSI sector isn’t just evolving—it’s reinventing itself through innovation, intensifying regulations, and a workforce hungry for change. Financial institutions are integrating technologies like AI, machine learning, and advanced analytics to transform how they deliver services. Regulatory bodies are raising the bar, forcing organisations to adapt with greater agility and compliance. At the same time, a new generation of ambitious, tech-savvy professionals is driving companies to rethink traditional talent strategies. These forces are pushing the industry to adapt rapidly, transforming not just an advantage but a necessity for survival and growth.

Hence, these pain points were at the heart of a recent roundtable discussion titled "Reinventing BFSI Talent Strategies: Creating an Agile, Growth-Oriented, and Engaged Workforce", hosted by People Matters in collaboration with UNext Learning (Manipal Group). This engaging session brought together HR leaders and industry experts to explore strategies for building a future-ready workforce. Yet the BFSI sector grapples with rapid technological advancements, the adoption of AI-driven systems, increasingly complex regulatory frameworks, and a restless new-generation workforce,

The event began with opening remarks by Aatash Shah, Senior Vice President and Business Head of UNext Manipal Academy of BFSI  (Manipal Group), followed by a moderated group discussion by Atul Mathur, EVP-HR and Head of Learning and Development, Aditya Birla Capital.

In his context-setting remarks, Shah emphasised the critical role of the workforce in driving BFSI's growth and resilience. He shared how over the past 16 years, Manipal Academy of BFSI has trained over 200,000 professionals, equipping many with industry-specific skills. Moreover, Shah highlighted that by prioritising skill mobility, continuous learning, and agility, the Academy has aligned talent development strategies with organisational objectives, empowering the workforce to meet the evolving demands of this dynamic industry. 

Designing scalable talent ecosystems

Post the context-setting, Mathur began moderating the leader session to discuss the pain points further. The first discussion point revolved around designing scalable talent ecosystems to attract, develop, and retain employees effectively. Leaders shared approaches that balance operational needs with employee aspirations and there is a need to cultivate a culture where mentorship plays a vital role. Leaders must be directly involved in guiding employees and fostering accountability, which strengthens the talent ecosystem.

Digital-first organisations are leveraging technology to personalise employee journeys. For instance, real-time performance scorecards could help track progress in areas such as knowledge acquisition, business metrics, and process efficiency, allowing for immediate feedback and clearer growth pathways.

Upskilling and reskilling: Preparing for the future

Upskilling and reskilling emerged as a central theme during the discussion, with organisations underscoring their importance in maintaining relevance in a fast-changing market. An interesting approach came up during the discussion, where all new employees must complete foundational training in data and artificial intelligence (AI) within their first 45 days. This would not only set the tone for a technology-driven culture but also prepare employees for a data-centric future. Also, advanced certifications in data science and AI must be encouraged, with employees being rewarded for completing these programmes.

Mathur also highlighted the role of flexible career paths in retaining talent. Employees are provided with rotational opportunities, allowing them to explore diverse roles while sharpening their skills. Some organisations continue to focus on adaptive learning, ensuring training programmes evolve rapidly to meet regulatory and market changes.

Retention strategies: Building careers, Not just jobs

Employee retention was another key focus of the session. Panellists agreed that creating meaningful career pathways is crucial to retaining talent. Organisations could empower their employees by treating them as “CEOs of their branches”, and curate a sense of ownership that can enhance engagement and help employees feel valued.

Gamification is another emerging trend in retention strategies. Several organisations have moved towards non-monetary rewards, such as points-based incentive systems, to keep employees motivated. However, attrition remains a challenge, particularly for sales roles, where employees often leave due to unrealistic targets or lack of career progression.

To address this, the panel leaders agreed that adopting initiatives like transparent career roadmaps and focused mentorship can help employees understand the distinction between a short-term job and a long-term career within the organisation.

Industry collaboration and technology adoption

The discussion underscored the urgent need for greater collaboration within the BFSI sector to address systemic talent shortages. Rather than perpetuating the cycle of talent poaching, which only fuels attrition, organisations were encouraged to partner with academic institutions like UNext Manipal Academy of BFSI to design bespoke training programmes that produce job-ready professionals. Standardised certifications across the industry were also proposed as a strategic solution to ensure skill credibility and minimise turnover.

In parallel, technology and AI emerged as indispensable tools for modern talent management. Advanced CRM systems, for example, enable sales teams to access real-time customer insights, driving engagement and efficiency. Meanwhile, AI-powered platforms like Lumen are revolutionising learning experiences, delivering personalised training modules and offering deep analytics to enhance both employee performance and satisfaction.

Creating a future-proof workforce

As the session concluded, the spotlight shifted to creating a future-proof workforce. In his closing note, Shah summarised the discussion by underscoring the importance of continuous learning. Employees must not only feel supported in their development but also see tangible opportunities to grow within the organisation. Leadership involvement in fostering a culture of accountability and innovation is pivotal to achieving this goal.

The panellists also stressed the importance of collective action. Collaboration between industry players, academic institutions, and regulators is vital for building a resilient and future-ready workforce. This roundtable discussion reinforced that the journey towards creating an agile, growth-oriented workforce requires innovative thinking, technological adoption, and a commitment to employee well-being.

BFSI organisations can ultimately, secure their future by aligning talent strategies with business goals, harnessing cutting-edge technology, and fostering a culture of continuous learning. By actively embedding agility and innovation into their operations, they not only adapt to change but also drive it. As the industry grows increasingly dynamic and competitive, these strategies form the foundation for sustained success, ensuring organisations remain ahead of the curve.