The business world changes at an ever-increasing rate, and for those of us working in Financial Services, we know there are not just one but multiple drivers of change. Former Barclays CEO Anthony Jenkins said recently the financial services’ ‘Uber’ moment is still five years off. If this is true, disruption will soon be upon us but we still face a rapidly evolving landscape. Downward pressure on fees is now the norm. Changing client expectations and increased competition impact the way services are offered and the actual services themselves, plus the evolving regulatory climate is pushing for ever more transparency. These trends challenge legacy processes, technologies and everyone’s professional skills.
A recent Fujitsu study of financial services found 56% of firms surveyed believe their businesses will not exist in the current form in five years’ time. Nearly all, 96%, of the financial services firms feel the need to evolve further to ensure a long term future. This may sound bleak to some but it’s exciting evidence of new and exciting industry developments which are coming.
Innovation is now imperative. The expectation is for individuals and organisations to embrace this dynamic landscape but moving from a static environment to a dynamic one with fundamentally different working practices can be overwhelming. People are being asked to deliver more and at speed, but this means individuals don’t have the necessary support they need to excel.
If organisations are not able to find the time and resources to nurture talent in this demanding environment – where should we look for the support we need to continually innovate within our working lives as well as have the career mobility we seek?
The answer is to be more proactive.
In this new environment, the winners will be professionals who reach beyond their current network and link to the best people and companies to help them achieve their ambitions and goals.
You might be looking for advice on a topic that you don’t feel you can ask a colleague or support on something transformative, like moving to a new industry or a different department. But how do you go about actually finding it?
Over the last year, as I’ve moved outside of my comfort zone and into digital innovation, I’ve sought out mentoring and support from a variety of sources well outside the usual boundaries of my existing professional network. This journey has seen me mentored by CEOs of start-ups (some 15 years younger than me!) and respected leaders who have worked in the industry longer than I’ve been in this world.
By extending and growing my network, I was fortunate enough to meet my business partner. We set up AlgoMe to augment this paradigm shift away from looking inwards for support and now we are building a community of proactive people that want to help each other adapt to the challenges of the future through discussion and mentoring. AlgoMe will help professionals search and find these useful connections not by mere chance, but through our unique data and advanced algorithms which matches finders with seekers and more.
The benefit for those looking to become mentors are significant too – by increasing your network and exposing yourself to new ideas and ways of thinking. Either way, it’s a great opportunity. You could meet your future business partner or the person that introduces you to your dream job, or just give back and stay in touch with an industry that you may have left behind.
Would you like to be part of our community? Please pre-register with us now to stay informed of AlgoMe’s launch date.