Here, drawn from the work of Hilary Scarlett, are eight steps financial services leaders can take to make the workforce less fearful and better able to deal with change. Many of these findings are of tremendous use for financial services leaders. It uncovers all sorts of fascinating findings about how our brains work.
Neuroscience is a dynamic and exciting multidisciplinary field of study that examines the fundamental properties of the nervous system. Improving change management with neuroscience Some of the most powerful of these insights come from neuroscience.
The good news is that there are lots of robust insights available to leaders looking to address the fears of the workforce and improve its ability to deal with change. In the research linked above, 74 percent of 800 surveyed financial services leaders reported that staff inability to change and fear of change due to a poor track record was one of their greatest obstacles. This is mostly driven by concerns about job loss.Īs you might expect, a fearful workforce does not embrace change or perform to its potential. Recent research from Accenture shows that the level of fear and anxiety experienced by the financial services industry is much higher than the average in other industries. It’s also creating huge amounts of fear and anxiety in the workforce. Game-changing technologies like artificial intelligence and blockchain are swiftly reaching maturity, causing complex knock-on effects.Īll of this change is creating huge opportunities. New competitors, new ways of working and new generations in the workforce are all making waves. The financial services industry is at an inflection point. The impact of fear on the financial services workforce Neuroscience and organizational agility in financial services.Three key insights into FS workforce learning from neuroscience.Eight neuroscience insights on FS change management.
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