Service providers had massive rounds of layoffs in 2019, 2020, and 2021 but the tide seems to be turning as worker shortages have flipped the script. Service providers and major fund providers have seen overall attrition or stagnation of workforce numbers over the past year and this sea change is heightening competition for skilled employees. “They’re all in dire need of good, skilled resources,” said Tom Secaur, chief operating officer at Citisoft. Meanwhile, many firms are seeking cost efficiencies, and labor shortages have helped them reach budget goals without the need for layoffs that have been prevalent in recent years.
For more on how talent, cost efficiences, and the evolving talent landscape, read the full article here.