How do HR strategies determine the future of banks? From sideshow to key discipline …

Skills shortages, demographic change, cultural upheaval: HR work in banks is facing the biggest structural change in decades. While fintech companies are scoring with speed and innovation, traditional institutions are increasingly losing touch. Yet the decisive competitive advantage is not speed, it’s strategy. Companies that fail to recognize the need for a sustainable HR strategy today jeopardize the entire organization’s ability to act tomorrow.

In this article, we want to take a fresh look at HR strategy – not as an operational duty, but as a strategic lever. It is also a teaser for our white paper “Strategy beats speed – HR strategy as the key to combating the skills shortage”, which is designed to give food for thought and encourage discussions and actions.

From sideshow to key discipline: does an HR strategy make banks fit for the future?

“HR is a line responsibility.” This sentence sounds familiar but often proves ineffective. Yet it has long been clear: the war for talent is not decided in job interviews only, but at all levels of a bank.

Strategic HR planning, well-founded succession processes and data-based HR decisions are all critical levers for a future viability and not some kind of HR gimmicks. Successful organizations see HR work not as a cost center, but as a driver of growth.

And this is exactly where the work begins – not with choosing the next recruiting tool, but rather with looking at the organization’s strategic map: What are our ambitions? What skills will we be needing in five years’ time? And what cultural conditions do we need to establish for this?

Is employer attractiveness a campaign or an attitude?

Yoga in the lunch break, organic fruit basket, feel-good managers? A good start. But convincing HR work starts at a deeper level. If you really want to retain employees, you have to specifically create a “cultural fit”, individual development paths and emotional attachment.

A strong HR strategy combines all these factors. It defines different target groups, differentiates and segments into life phases and does not focus solely on the “perfect fit” in the here and now. Instead, it looks for employees with long-term development potential: the “long-term match”.

Many organizations invest in employer branding, but their measures often fizzle out because they are too generic, too short-term or simply not credible. You can only create lasting retention if you approach attractiveness from a strategic and not a campaign perspective, because then the message also reflects reality.

This also includes listening. Because mostly, the solution to a lack of retention or low employer attractiveness is not to introduce new measures, but to consistently live up to your existing values. In this context, an employee survey is not a control instrument, but rather a mirror that encourages self-reflection and strategic adjustment.

What do the best talents expect from an employer today?

A learning organization is not made up of learning platforms and a multitude of training courses alone, it requires real development strategies. Continuing education is a strategic instrument for securing competitiveness, especially in times of digital transformation. What does this entail? Personalized learning paths, targeted upskilling and consistent talent development.

More and more organizations are realizing that the best employers not only support their employees today, but also specifically invest in their future. It is no coincidence that strategic personnel development is the most stable pillar to support performance, motivation and loyalty.

What’s more, it’s no longer just about management careers. Project careers, expert tracks and mentoring are all elements of a holistic approach to personnel development that adds perspectives in all directions. This is not just nice to have, but a key factor in securing a skilled workforce.

Don’t do things for the sake of doing things, but develop a strategy: how zeb’s control cycle provides orientation

It’s not the quantity that matters. Individual HR measures are only effective if they are embedded in an overall strategic concept. Our zeb “strategic HR management” cycle presented in the white paper combines corporate strategy, target picture, HR organization, controlling and communication, thus creating a blueprint for effective HR work.

In the white paper, we describe not only what the model looks like, but also why it works. And we can already reveal this much: the difference between orientation and excessive demands often “only” lies in a clear structure.

No off-the-shelf solutions

In our day-to-day consulting work, we support banks in shaping their HR strategy in a well-founded, coherent manner and with clear priorities. The white paper is a practice-oriented navigation system for decision-makers, not an academic thesis paper.

Our ambition: no platitudes, no pipe dreams, but a model kit that works in real life. With best practices, tried-and-tested tools and a clear compass. And with the knowledge that every organization has to find its own answer.

What’s not in our white paper and why exactly is this valuable?

The white paper is not a cure-all. And it deliberately does not contain a list of ten measures for quick success. Why? Because every organization has different challenges.

Instead of one-size-fits-all solutions, we provide orientation: concrete questions, well-founded contexts, proven frameworks. So, if you want to really understand strategy-based HR work and seek inspiration to discover your own answers, we invite you to take a look at the white paper.

Outlook: how can strategic HR work become a real competitive edge?

The challenges are complex, but solvable. Companies who think HR work from a strategic perspective can not only mitigate existing problems but also build real competitive edge: through higher retention, targeted development and a culture that promotes collaboration, learning and trust.

Our white paper invites you to take the next step: out of crisis mode and into strategy-based HR work that has a long-term impact – on figures, on culture and on people’s minds.

You should now be able to talk about these key points of the article:
  • Why is HR strategy more important than ever for banks today? Traditional banks are losing ground to agile fintech companies. The decisive competitive advantage is not speed, it’s a clever strategy, especially in HR. HR work must be seen as a driver of growth and not as a cost center. Strategic HR planning, well-founded succession processes and data-based HR decisions are critical levers for a future viability and not some kind of HR gimmicks.
  • How does “employer attractiveness as an attitude” differ from superficial measures? Superficial measures such as yoga during the lunch break or organic fruit baskets are nice to have, but not enough. Convincing HR work starts at a deeper level and needs to specifically create a “cultural fit”, individual development paths and emotional attachment. A strong HR strategy defines different target groups and looks for employees with long-term development potential (“long-term match”) instead of just looking for the “perfect fit” in the here and now. It’s about credibly connecting the employer branding message with reality and about listening in order to better live up to existing values.
  • What role does “listening” play in increasing employer attractiveness and employee retention? Listening plays a decisive role, since mostly, the solution to a lack of retention or low employer attractiveness is not to introduce new measures, but to consistently live up to your existing values. An employee survey is not regarded as a control instrument, but rather as a mirror that encourages self-reflection and strategic adjustment. It’s about understanding the reality of employees and adapting the HR strategy accordingly in order to create credibility and long-term retention.

Do you want to know how your organization can not only manage the skills shortage, but also use it as an opportunity? Do you want to take HR work to a new strategic level?

Then contact us or directly request our white paper / order the white paper here.

Feel free to contact us!

Justus Herfurth / author BankingHub

Justus Herfurth

Senior Manager at zeb Office Hamburg
Dr. Jörk Jarick / author BankingHub

Dr. Jörk Jarick

Senior Manager at zeb Office Frankfurt
Christian Kossendey / author BankingHub

Christian Kossendey

Senior Manager at zeb Office Hamburg
Laura Klempau / author BankingHub

Laura Klempau

Senior Consultant at zeb Office Hamburg

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