Something that always surprises me about the financial services industry is its pace of transformation.
One of the most positive changes we have seen has been the growth of a real sense of purpose beyond simply managing money and making profit.
Of course, these aspects are still important, but in recent years there has been a welcome recognition that our role in society runs much deeper.
That purpose is about helping to solve major challenges like climate change and social inequality, creating rewarding and meaningful work, and supporting growth and opportunity in our economy and our communities. It’s also about embracing the value of diversity and inclusion, which is so important to keep to driving us forward.
Despite this progress, we have work to do as an industry to make this message resonate with the young people we so strongly depend on for our future workforce.
According to a new poll commissioned by advisory firm True North, more than half of 16 to 24 year-olds are unlikely to consider a career in financial services. Meanwhile, a quarter of all ages polled do not believe the sector represents an attractive career for young people.
In an effort to reach young people with our positive message about careers in financial services, Scottish Financial Enterprise is this week launching a new programme, A Future in Finance, created in partnership with Skills Development Scotland, Developing the Young Workforce and our members, with input from young people and the third sector.
The programme aims to inspire young people about the opportunities in finance and challenge some of the stereotypes that may exist about the sector, highlighting our growing focus on technology, our global nature and our role in supporting societal change.
A Future in Finance will also underline the need for diverse talent and the ways the industry has become more welcoming and inclusive.
We know that as a sector we need to be clearer about pathways, less fragmented and better at promoting the roles and skills that are needed to help us continue to grow and thrive.
That’s why we launched our ambitious Skills Action Plan last year, which aims to respond directly to these objectives by driving our focus on pathways, promotion and skills.
Changing attitudes and getting more young people excited about our industry is a key part of this plan and an important first step in developing the bigger pipeline of diverse talent that we need to respond to skills gaps and ensure our continued growth and development.
Sandy Begbie is the chief executive of Scottish Financial Enterprise
