C-suite executives in the financial services sector are more likely to view talent acquisition and retention as a major business risk than their counterparts in other sectors, according to a recent survey of 722 U.S. executives by accounting firm PricewaterhouseCoopers. Forty-four percent of financial service executives surveyed cited staffing as a “serious” risk versus 38% across all sectors. Cybersecurity was the top business risk that worried executives in all sectors, with 40% of respondents listing it as a serious threat—a higher percentage than any other category.
The financial services sector was also among the most likely to offer flexible work options, with 68% of respondents saying they’ve expanded remote work choice where possible or plan to do so. Only 27% said they’ve implemented a plan for having employees on-site more often, compared to 32% overall. At the same time, financial services executives were less optimistic about the future of the economy than their counterparts, with 70% of respondents believing a recession was likely in the next 12 months, compared to 60% overall.